Really good
Great app that is very user friendly. The interface is easy to add all your investments and debts into one place. The best feature is your ability to simulate the time and/or amount of interest it will take to pay off a given debt
Free
About
This app helps you manage and pay off debts, featuring a unique mortgage recast calculator to optimize payments and save on interest. It also tracks home equity, PMI removal, and supports couples managing finances together.
✓Mortgage recast calculator
✓Debt payoff strategies (snowball/avalanche)
✓Home equity and PMI tracking
✓Amortization schedules
✓Couples/household debt mode
✓PDF report export
✓Net worth dashboard
Show original description
What's New in DebtDrop
1.2.0
April 30, 2026
What's new in DebtDrop 1.2: • Optional Face ID / Touch ID lock keeps your financial data private • Interest rates now support 3 decimal places (e.g. 19.638%) • Smarter payment recording — Minimum is pre-selected on open, escrow auto-disables for principal-only payments, and a new "Min + Extra Principal" mode applies extra payments entirely to principal • Fixed: keyboard "Done" button now properly dismisses the keyboard Got feedback? Tap More → Support to reach us. Thanks for tracking with DebtDrop.
MoreUser reviews
Developer apps
FAQ
What is DebtDrop?
DebtDrop is a free finance app designed to help users manage and pay off their debts. It includes a unique mortgage recast calculator, equity tracking, and supports couples in managing joint finances.
How does the mortgage recast calculator in DebtDrop work?
The mortgage recast calculator allows you to simulate how lump sum payments can lower your monthly mortgage payment, reduce total interest paid, and accelerate your debt-free timeline. It provides detailed before and after payment comparisons.
Does DebtDrop offer different debt payoff strategies?
Yes, DebtDrop supports both the snowball method (paying off smallest balances first) and the avalanche method (paying off highest interest first). It runs simulations to show projected payoff dates and savings.
Can DebtDrop help with home equity and PMI?
DebtDrop tracks your home equity in real time and alerts you when you reach the 80% Loan-to-Value ratio threshold, which is typically when you can request PMI removal to save money.
Is DebtDrop suitable for couples managing finances?
Yes, DebtDrop features a 'Couples Mode' that allows partners to track individual and joint debts side by side, providing combined payoff projections for household financial management.
Does DebtDrop collect or share user data?
No, DebtDrop prioritizes complete privacy. It does not collect, store, or share your data, and there are no analytics or ads. All data stays on your device.
What devices is DebtDrop available on?
DebtDrop is available on iPhone and iPad devices, indicated by its support for these platforms.
How often is DebtDrop updated?
The latest version of DebtDrop is 1.2.0, which was last updated on April 30, 2026. This indicates a recent update and ongoing development.