Case Study 04 :
Mortgage Calculator for TIAA Bank
PROBLEM:
TIAA Bank wanted to provide their customers with a convenient tool to estimate monthly mortgage payments based on variables such as paying extra each month, a yearly amount or a lump sum. This tool helps users assess affordability, compare different loan options, and plan their finances effectively.
SOLUTION:
I utilized UX design principles to create a user-friendly mortgage calculator for TIAA Bank. By understanding user needs and preferences, I designed an intuitive interface that allows users to input loan details easily and obtain accurate estimates of their mortgage payments and pay-off options. The design prioritized simplicity, clarity, and accessibility to ensure a positive user experience.
MORTGAGE CALCULATOR
DESIGNS
Option to make additional monthly mortgage payments provides a clear view of how much savings the user can obtain by adding just $250.00 a month to their mortgage payment.
Lastly, this example shows how a lump sum payment of $50,000.00 more than doubles the borrower’s impact. They would save $120,000.00!
This example shows the impact of making a yearly payment of $2,500.00 will save the borrower $80,000.00.