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Google Launches Built-in Mortgage Calculator

Lenders who were unhappy with the Consumer Financial Protection Bureau’s new mortgage payment calculator will soon have a new target for their ire, Google (GOOG).

That’s because the internet search monolith began very quietly rolling out a mortgage payment calculator of its own on Tuesday. The built-in mortgage calculator will apparently appear when a user searches for terms like, “mortgage calculator,” “loan interest calculator,” and “interest calculator.”

The native mortgage calculator was first spotted by Searchengineland.com. HousingWire searched for Google’s mortgage calculator and found it on an Android-powered phone.

We also captured a screenshot of the tool in action:

Google mortgage calculator

While the roll-out of the Google mortgage calculator seems to be limited thus far, Google did share some news on the mortgage calculator on its Google+ page.

“Preparing for homeownership just got a bit easier,” Google’s post states. “Starting today you can ask Google things like ‘How much can I borrow at $200 a month?’ or ‘At 5% APR how much can I borrow over 10 years?’ You can even adjust the mortgage amount, interest rate, mortgage period and more to see which financial options fit your needs.?”

via Google launches built-in mortgage calculator | 2015-02-03 | HousingWire.

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