Terms of Service

Effective Date: April 2, 2026

Acceptance of Terms

By downloading, installing, or using Penciled ("the App"), you agree to be bound by these Terms of Service. If you do not agree, do not use the App.

Description of Service

Penciled is a financial calculator application that provides loan payment estimates, amortization schedules, and comparison tools. The App is available in a free tier and a paid Pro tier ($4.99 one-time purchase).

Not Financial, Tax, or Legal Advice

Penciled is a mathematical estimation tool only. It does not provide financial, investment, tax, legal, or real estate advice. Specifically:

Income-driven repayment (IBR, PAYE, REPAYE) estimates are approximations and do not account for annual income recertification, family size changes, or program-specific rules that may affect your actual payments or forgiveness timeline.
Rent-vs-buy and invest-vs-pay-down analyses use simplified assumptions about appreciation, returns, and tax treatment that may not reflect your actual financial situation.
PITI calculations including property tax and insurance estimates are illustrative only and will differ from actual costs in your area.
Affordability estimates do not constitute a lending determination and are not a substitute for a lender's qualification process.

All results are estimates based on standard mathematical formulas and the inputs you provide. Actual loan terms, payments, tax implications, and costs may differ significantly. You should consult qualified financial, tax, and legal professionals before making financial decisions. Equity Level Operations LLC assumes no responsibility for decisions made based on the App's calculations.

Accuracy

While we strive for mathematical accuracy, Penciled provides estimates only. Results may differ from actual lender calculations due to rounding methods, day-count conventions, and other factors. The App is not a substitute for official loan disclosures or amortization schedules provided by financial institutions.

In-App Purchases

Penciled Pro is available as a one-time, non-consumable purchase for $4.99. This purchase unlocks all Pro features permanently on the platform where purchased. Purchases are processed by Apple (App Store) or Google (Play Store) and are subject to their respective terms and refund policies.

You can restore purchases on the same platform using the "Restore Purchase" option.
Refund requests must be directed to Apple or Google, not to the App developer.

Intellectual Property

All content, design, code, and trademarks associated with Penciled are the property of Equity Level Operations LLC. You may not copy, modify, distribute, or reverse-engineer the App.

User Data

All data you enter into Penciled is stored locally on your device. We do not collect or transmit personal data. See our Privacy Policy for details.

Disclaimer of Warranties

Penciled is provided "as is" without warranties of any kind, express or implied. We do not warrant that the App will be uninterrupted, error-free, or that results will be perfectly accurate for all scenarios.

Limitation of Liability

To the maximum extent permitted by law, Equity Level Operations LLC shall not be liable for any indirect, incidental, special, consequential, or punitive damages arising from your use of the App, including but not limited to financial losses based on calculations provided by the App.

Changes to Terms

We reserve the right to modify these Terms at any time. Changes take effect when posted. Continued use of the App after changes constitutes acceptance of the revised Terms.

Governing Law

These Terms are governed by the laws of the State of Wyoming, United States, without regard to conflict of law principles.

Dispute Resolution

Any dispute arising from these Terms or your use of the App shall be resolved through binding arbitration administered by the American Arbitration Association under its Consumer Arbitration Rules, except that either party may bring claims in small claims court if eligible. Arbitration shall take place in the State of Wyoming. You agree to waive any right to participate in a class action lawsuit or class-wide arbitration.

Indemnification

You agree to indemnify and hold harmless Equity Level Operations LLC, its members, and affiliates from any claims, damages, or expenses arising from your use of the App or reliance on its calculations.

Severability

If any provision of these Terms is held to be unenforceable, the remaining provisions shall continue in full force and effect. These Terms, together with the Privacy Policy, constitute the entire agreement between you and Equity Level Operations LLC regarding the App.

Contact

For questions about these Terms, contact us at:

Equity Level Operations LLC — penciled.app@gmail.com