Calculator Finished!

Update 09/29/2009:
I’ve added the plugin for download on this site. So that I can keep track of beta testers, you first have to register on this site before you can download. I won’t send spam or anything like that, it’s just so I have all the beta testers emails so that I can give you a heads up when there are updates and ask if you’ve noticed any problems that I can fix before the public release.

I’ve finally finished the updates and testing on my WordPress mortgage calculator plugin. You can see the final implementation in the sidebar of this website. I’ve tested it pretty thoroughly, although I need some beta testers who are willing to run the calculator on their website and keep me apprised of any errors so that I can flush out any remaining bugs in the software.

If you’re interested in being a beta tester, leave a comment on this post. The comment form asks for your email, which will not be displayed so you don’t have to worry about spam, but make sure you enter the best contact email so that I can get in touch with you and send you the files and help you get the plugin setup if need be.

APR Calculation Using the Actuary Method

One of the bits of this calculator plugin that I’m really proud of is its use of the Actuary method of calculating APR (also known as the iteration method). There are a number of ways to approximate the annual percentage rate using different algebraic formulas, but none of them are as accurate as the Actuary method, which is one of the only two methods for calculating APR approved by the Federal Trade Commission for use on Good Faith Estimates.

I’m not sure what other mortgage calculators online use, but my research suggests most of them use one of the approximation methods. So, using this calculator means you can provide your website visitors with the most accurate method of APR calculation available.

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9 Comments

  1. Adam
    Posted September 13, 2009 at 4:40 am | Permalink

    I’m designing a real estate site for my client and was looking for some decent mortgage calculators to use on it. Yours looks pretty good. Will this work on a non-sidebar configuration?

    Also any plans on expanding it to include an example amortization schedule if it were to be able to be used on a post/page?

    • Posted September 15, 2009 at 7:22 pm | Permalink

      Hi Adam.

      Yes, it will work as is anywhere on the site as is. You’ll obviously have to style it quite a bit for that as its currently designed to fit the sidebar.

      I do have plans to expand the calculator quite a bit and amortization tables are one of the items in the plan. My idea is to release the sidebar version and expand on that to also include in-post/in-page versions that are more detailed and produce all the appropriate charts and tables with the results.

  2. Posted September 24, 2009 at 2:16 am | Permalink

    I would LOVE to beta test it!! I have a blog (hasn’t been maintained in months since I became a Loan Officer) which is about to get revamped. Let me know!

    -Jason Arnold

  3. Posted September 24, 2009 at 2:34 pm | Permalink

    Like the look of the new calculator. Doing a site for a realtor and a title company and this might just fit the bill. Others that I have seen look a little bloated. Simple is better. Let me know if I can beta test for you.

  4. Jamie YL
    Posted September 25, 2009 at 4:16 pm | Permalink

    I’m interested in your Mortgage Calculator Plugin, can you email me it? Thank you.

  5. Posted September 26, 2009 at 1:24 am | Permalink

    Looks good, I’d like to beta test it for you…

  6. Posted September 29, 2009 at 9:41 pm | Permalink

    Hi everyone…thanks for your interest in the plugin!

    I decided to just add the plugin to the site for download…you just have to register in order to download the plugin.

    This is easier than having to keep track of emailing it to everyone.

    Installation instructions can be found in the readme.txt file included with the download.

    Get it here

  7. masey
    Posted November 21, 2009 at 5:14 am | Permalink

    Try as I might I can’t get a download link that works????

    It keeps telling me that I have to be logged… but I AM???

  8. Posted December 7, 2009 at 3:58 pm | Permalink

    Hmm…it seems to work just fine for me, even when registering a new account.

    Anyone else having this problem?

    Try downloading it from here – you don’t have to be logged in at that page:
    http://www.mortgagecalculatorplugin.com/wordpress-mortgage-calculator-plugin-version-1-1-released/

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