iAPR iPhone App Takes the Headache out of Shopping for a Mortgage

April 20, 2011 - PRLog -- Milpitas, CA.

Shopping for a mortgage is a not a easy task at all, especially comparing mortgages or loans. Comparing loans is too complicated to be done with a simple calculator, especially with time value of money in the mix. In addition to comparing rates, borrowers have to compare loan costs and fees which vary from one lender to another.

iAPR will take the headache out of shopping for a loan or mortgage. iAPR is an easy to use iPhone app that helps users to compare loans by simply inputting loan information and fees such interest rate, loan amount, loan term, and loan fees and costs. The app will analyzes the loans and provide recommendations.

iAPR is the only iPhone app on the App Store to provide detail analysis of loans and recommendations. The only iPhone app that allows users to compare loans in a apple-to-apple manner using APR or annual percentage rate.

iAPR will answer the following commonly asked loan or mortgage questions?

1.Should I pay additional fees to lower the interest rate?
2.If I do pay additional fees to lower the interest, how long should I hold to justify the decision?
3.What is the true costs of my loan in terms of a percentage or APR?

iAPR makes loan comparison easy and eases the pain shopping for a loan, whether it is a home loan, auto loan, or a refinance loan. It will help borrowers compare loans with confidence and make a intelligent choice when picking a loan.

iAPR analyzes and compares loans based on the loan's APR (annual percentage rate). APR is the effective cost of a loan in terms of a percentage which takes into account of all loan costs. In effect, the overall loan costs is converted to a percentage, so that loans can be compared easily in a apple-to-apple comparing fashion.

The definition of APR varies due to the inclusion and exclusion of certain loan charges. Therefore, the APR presented by lenders may not include all of the loan costs. This app will allow a borrower to include ALL or ANY loan costs in the calculations and comparisons, so he /she knows the true costs of the loan.

This app is designed with consumers and professionals in mind. Consumers with access to the app can make intelligent mortgage and loan choices. Loan, mortgage, and real estate professionals can help their clients/customers pick mortgage according to their needs.

There is more. This app also comes with a simple payment calculator with amortization feature and a mortgage calculator for home buyer. Home buyers can simply enter their home price, downpayment, and loan information to obtain a estimate of their monthly housing expenses that includes mortgage payment, property taxes, insurance, HOA, and other housing expenses.

Finally, this app is packed with many features including bookmarking, email, help info, settings, and more.

This is a valuable iPhone app for anyone looking for a home, an auto, or a refinance loan. It will help borrowers to compare wisely and save.

Features:
1.APR calculator (home, auto, refinance loans)
2.Calculates the true costs of a loan in terms of APR (%)
3.Calculates the holding period of a loan should you pay additional costs to get a better rate
4.Compare two loans side-by-side
5.Identify the loan with a lower cost (APR)
6.Loan calculator for borrower (home, auto, credit card loans)
7.Purchase calculator
8.Help info available for Buyer calculator
9.Ease of use – large number keypad
10.Ease of navigation – never have to scroll to input numbers
11.Intuitive & user-friendly user interface
12.Convenient calculator for adding loan costs
13.Email feature – email results to clients
14.Bookmark feature– save important calculations for future reference
15.Settings – property tax rate and insurance in the iPhone Settings app
16.Calculate APR for any loans including FHA, VA, & conventional loans
17.Monthly payment
18.Monthly housing payment summary
19.Amortization schedule
20.iOS 4.2 or later (please download the latest iOS)

Go to the the iTunes App Store:  http://itunes.apple.com/us/app/iapr/id427544287?mt=8&ls=1

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Contact Us

If you'd like more information about this topic, please contact us at info@sbg81.com. You can also write to us at 45 S. Park Victoria Dr., Suite 333, Milpitas, CA 95035

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SBG Real Estate (www.sbg81.com) is a real estate software company that develops mobile applications for the iOS platform.