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Property Investors: 5 Home Loan Apps You Can’t Live Without

Home loan apps essentials

These days, looking for a new home to invest in has never been easier. With the advent of the Internet and apps and mobile devices, you can now search for home listings, compute mortgage costs, explore businesses and attractions near prospects, and translate real estate terminology all without leaving your home.
When it comes to looking for a home, the future is indeed here. Here are 5 apps built to help you find a home. Coupled with a mortgage broker, your search has never been simpler.

1. Multiple Listing Service Apps

Apps like Realtor, Redfin, Trulia, and Zillow are designed to help you scour through local multiple listing services (MLS) to find properties for sale. Home searchers can filter their search by city, state, or zip code, and see listings filtered by price, number of bedrooms, number of baths, size (square feet and lot), age of the property, features, and more.

Many mortgage brokers and real estate agents tend to recommend the Realtor.com app, mainly because the site boasts of the most accurate and updated database of property listings sourced from over 800 MLSs.

2. Homesnap

Available on both iOS and Android, Homesnap is a free MLS app that boasts of one key feature: it let’s you Snap a picture of any home you see in the country to get property details, such as property values, date of last sale, number of bedrooms and baths, lot size, taxes, and more. If the home you just snapped a photo of is on the market, you also get a number of interior photos.

If you want to buy a property or sell yours, you can use the app to contact a real estate agent for a showing, or conversely, add your home to the listings.

3. Trulia’s Mortgage Calculator

If you’re like most people looking to invest in property or a home, you probably need a mortgage to get started. Apps like the Trulia Mortgage Calculator, available on both iOS and Android, allow you to compute the property value you can afford, your monthly payments, and even go through property rates in real-time.

You can also get a side-by-side comparison of loan rates from different lenders, as well as lender reviews and ratings. The app also allows you to contact lenders directly from your smartphone to inquire more about loan quotes and other details. And finally, these apps come with refinancing calculators to help you compute how much you can save on a monthly basis (or in total) by refinancing your loan.

4. Dictionary of Real Estate Terms

If you’re looking for property on your own, you might be intimidated by all the terms you hear being thrown around in the real estate industry. Dictionary of Real Estate Terms is a handy app available on iOS that gives you a crash course on over 3,000 real estate terms, helping you understand just what your agent or mortgage broker mean when they’re talking about easements, encumbrances, joint and several liability, and more.

5. AroundMe

The AroundMe app automatically determines your location and brings up a list of all nearby establishments and attractions, sorted by distance to your location. Why would you need this, you ask? Think about those times when you’ve had to look for a home in a city, state, or province you’re unfamiliar with. Knowing where the nearest ATM, bar, café, hospital, and gas station can help you assess the value of the property you’re eyeing.

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