SANTA CLARA, Calif.,
Aug. 19, 2019 /PRNewswire/ -- "How
much can I afford?" is one of the largest decisions that faces
every home buyer, no matter his or her budget or where he or she
wants to live. Realtor.com®, the Home of Home Search℠,
today announced an industry-first monthly payment filter that helps
buyers stick to their budget by hiding homes that exceed their
target monthly payment, as well as two new calculators that help
take the financial guesswork out of home buying.
"At realtor.com®, we go beyond listings search to
help people figure out what homes are right for both their
lifestyle and budget," said Chung Meng
Cheong, chief product officer, realtor.com®. "The
fear of overextending themselves financially is one of the biggest
concerns for today's home buyers. Our new cost calculators give
buyers deep insights into what specific home prices mean for their
bottomline, while our new monthly payment filter prevents them from
seeing homes outside their monthly budget so they can stay on track
financially."
The new features include:
- "How Much Home Can I Afford?" Calculator for iOS,
Android, and Web: Helps estimate your ideal home budget. Simply
click "More" on the realtor.com® iOS app or "Mortgage"
on the Android app. You can then enter your annual income, monthly
debt, desired down payment, and location and
realtor.com® will help you calculate a target home price
and estimated monthly payment based on current interest rates.
Results include the full range of homes you can afford and allow
you to customize your budget to be more conservative or
aggressive.
- "Monthly Cost Calculator" for iOS and Android: Provides
you with a detailed and transparent look at the estimated monthly
payments on a new home. First select "More" on the
realtor.com® iOS app or "Mortgage" on the Android app
and tap "Monthly Cost Calculator." Then enter the anticipated home
price, anticipated down payment, and any other parameters such as
loan type, interest rates, etc. and realtor.com® will
help calculate your total estimated monthly home cost and break it
down by category. If you aren't sure about some of the information,
the feature will use averages that you can update later. The
calculator is also accessible from the Listing Details Page on the
iOS and Android apps.
- Monthly Payment Filter for iOS: After you determine how
much home fits into your monthly expenses, the
realtor.com® Monthly Payment Filter can help you stick
to your budget by filtering out all the homes that are estimated to
exceed your range. Simply enter a home search, tap "Filter" and
select "Monthly Payment" to enter your expected down payment and
target monthly mortgage budget. The app will then return all the
homes currently on the market that meet your search and approximate
budget parameters. This feature, a first among national real estate
portals, is especially helpful for first time buyers who are used
to paying monthly rent, but have trouble budgeting based on total
home price. This feature will be coming soon to the
realtor.com® Android app.
For more information about these tools, please visit:
https://www.realtor.com/homemade/finding-the-right-home-and-the-right-price-for-you/
About
realtor.com®
Realtor.com®, The
Home of Home Search℠, offers the most MLS-listed for-sale listings
among national real estate portals, and access to information,
tools and professional expertise that help people move confidently
through every step of their home journey. Through its Opcity
platform, realtor.com® uses data science and
machine learning to connect consumers with a real estate
professional based on their specific buying and selling needs.
Realtor.com® pioneered the world of digital real
estate 20 years ago, and today is a trusted resource for home
buyers, sellers and dreamers by making all things home simple,
efficient and enjoyable. Realtor.com® is operated
by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move,
Inc. under a perpetual license from the National Association of
REALTORS®. For more information, visit
realtor.com®.
Media contact:
Lexie Puckett
Holbert
Communications Director
805.557.3151
Lexie.Puckett@move.com
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content:http://www.prnewswire.com/news-releases/house-poor-no-more-300902769.html
SOURCE realtor.com