Iley's Mortgage Calculator FAQ
Quick answers about mortgage rates, PMI, payment estimates, and why lender numbers may differ.
Where can I download Iley's Mortgage Calculator?
You can download
Iley's Mortgage Calculator from the App Store here:
View on App Store.
Where does the mortgage rate come from?
Iley's Mortgage Calculator can optionally retrieve current mortgage rate data from the Federal Reserve's public FRED API, based on Freddie Mac Primary Mortgage Market Survey data. You can also enter a rate manually at any time.
How is PMI calculated?
PMI is estimated from loan-to-value ratio, credit score tier, and standard industry ranges. Actual PMI varies by lender, loan type, credit profile, and market conditions, so you should confirm final numbers with your lender.
Why might my lender's payment differ from the app estimate?
The app estimates principal, interest, PMI, and related mortgage figures from the inputs you provide. Your lender may include taxes, insurance, escrow rules, fees, credits, discount points, rate locks, or underwriting adjustments that change the final payment.
Are ESP Software calculations guaranteed?
No. Mortgage calculations are for informational planning only. Actual mortgage terms, PMI, taxes, insurance, escrow rules, and closing costs may vary. Always confirm final numbers with your lender or qualified financial professional.
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