New app for Android
Homes.com has just announced the release of their Mortgage Calculator application for Android smartphones after earning high praises and a high volume of downloads of their iPhone app which we noted in May was a highly untraditional and useful calculator.
Where the Homes.com Mortgage Calculator strays from the standard “loan amount – interest rate – years” formula, the “buy vs. rent” calculator looks deeper into the affordability of what a buyer can truly afford, and asks more important questions like how long the home will be owned and what taxes will be to determine a more accurate living expense figure. Homes.com says, “It is the first of its kind offered for the Android platform.”The Android app also offers a mortgage refinance calculator alongside its mortgage payment calculator and a debt-to-income calculator which even goes so far as to offer feedback on whether they should buy now based on their finances (a move that the industry could have used about seven years ago).
The calculators are integrated into their property search as well, so consumers can search homes and calculate simultaneously without launching separate apps. Homes.com emphasizes the ability for a mobile consumer to connect with a real estate professional via the device and screenshots reveal that consumers can pre-qualify for a loan through the Android app.
“The release of Homes.com’s Android Mortgage Calculator app is in direct response to Android users’ requests for their own version of the extremely popular iPhone app that quickly helps consumers determine whether they should buy or rent in their local market. Creating an app for the Android users reinforces our commitment to serving all consumers through every step of the home search process, starting with the very first step—deciding whether to buy or rent,” said Jason Doyle, Homes.com vice-president and general manager. “This user-friendly app links consumers directly to homes for sale or rent depending on their needs.”