TheXylem released and iPhone app that calculates Mortgage Insurance based on Loan-to-Value and mortgage type using latest industry MI rates. It can also calculate up-front mortgage insurance. The app can also calculate the total monthly payment with breakdowns for principle & interest, mortgage insurance, property taxes, insurance, and association dues.
TiCOON Pro is the essential tool for real estate professionals, investors and loan officers. An entire real estate transaction may rely on the ability to quickly provide a potential buyer with two pieces of accurate information: payments and out-of-pocket costs.
Offering complete versatility to conform to any real estate transaction, TiCOON Pro is the most comprehensive App for lightning fast mortgage payments and estimated closing costs. Don’t just get to the closing table. Own the closing table.
Calculates total monthly payment with breakdowns for Principle & Interest, Mortgage Insurance, Property Taxes, Insurance, and Association Dues if applicable
Price: $5.99
Screen shots:
Check out the developer’s website for a demo.
Key Features:
♦Professional grade application for industry professionals
♦Property taxes paid in advance? In arrears? Set up unlimited templates tailored to each geographic area or customary method of doing business
♦Automatically calculates Mortgage Insurance (MI) based on Loan-to-Value (LTV) and mortgage type (FHA or Conventional) using latest industry MI rates
♦Automatically calculates Up-Front Mortgage Insurance (UFMI) for FHA
♦Includes check-and-balance system warnings for potentially unfeasible inputs (insufficient down payment, improper escrow waiver, etc)
♦“Quik Payment” module to instantly calculate simple amortization payments
♦Evaluating multiple properties? Export each TiCOON Scenario via email to yourself and your clients for easy retrieval
♦Customize inputs for hazard insurance, flood insurance, association dues, and more
♦Calculates total monthly payment with breakdowns for Principle & Interest, Mortgage Insurance, Property Taxes, Insurance, and Association Dues if applicable
♦Provides estimated closing costs as High, Mid and Low brackets, combined with down payment to formulate Total Out-of-Pocket Bracket.
♦Quickly edit inputs and re-run TiCOON Scenarios
♦Intuitive interface for easy navigation
Posted by Bryan McDonald (Follow him on Twitter)
