NO MORE HASSLE WITH LONG AND TEDIOUS CALCULATIONS. Buyer’s Tool is the easiest and most effective tool to calculate the CASH TO CLOSE and the MONTHLY PAYMENT when you are planning to purchase your home. With Buyer’s Tool you may arrange as many scenarios as you want to make sure the deal meets your financial possibilities so you are able to make a better decision for such an important purchase.
With Buyer’s tool you may have scenarios for cash deals as well as for financed ones and you can change any value as desired. You just need to enter very simple information like purchase price, loan amount & terms, annual property tax, annual Insurance premium, monthly maintenance fee if any, estimated closing cost and you will obtain an immediate results for:
CASH TO CLOSE: The amount of money you need in order to close a particular transaction. You will be able to easily enter an estimation of the closing cost and extra expenses, either as a percentage of the purchase price or a fix amount as per your desire, which when added to the down payment will be your cash to close the transaction.
MORTGAGE LOAN PAYMENT: In case some portion of the purchase price is to be financed, you may conveniently enter a first mortgage loan and also a second mortgage loan, if any. You will have the option to enter each loan as either a percentage of the purchase price or as a fix amount as desired. On the Loan information section you will be able to enter each loan term like the annual interest rate and the loan term (number of years to repay the loan). Also, in case needed, you will have the option for the loan to be interest only or regular amortization.
MONTHLY PAYMENT: You will get a close estimation for your Monthly Payment which will include mortgage payment, Real Estate Tax, Association Dues, Insurance and other expenses corresponding to the information you may enter to arrange each scenario.
There is a free version of Buyer’s Tool which will allow you to make 3 free calculations so you can get familiar with the app. Then, you may purchase the plus version which will allow you to make unlimited calculations and also save result for future use as well as to retrieve and edit them and even e-mail up to five results at a time to a third party in a very well designed pdf files.