“‘Mortgage insurance rates vary so much that such calculations would be unreliable,’ said Gregory Raiz, the president of the Raizlabs Corporation in Brookline, Mass., which produces the Mortgage Calculator iPhone and iPod touch application ($1). The Mortgage Calculator is a good example of how the simpler mobile applications work. With sliders and data-entry fields, the software determines the monthly payment on a single screen.
The program also allows users to type in the square footage of the property, for comparing different homes. Users may send the results of the calculation to themselves, with notes, as e-mail messages.”
Read the full story in the New York Times here: http://www.nytimes.com/2009/09/13/realestate/13mort.html