iAPR Helps Borrowers Compare Loans Wisely and SaveSBG Real Estate launches a new iPhone app, iAPR, to help borrowers make ...
Features: 1. APR calculator (home, auto, refinance loans) 2. Calculates the true costs of a loan in terms of APR (%) ...
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Press release i apr_v1

Published on: Mar 4, 2016
Published in: Real Estate      

Transcripts - Press release i apr_v1

  • 1. iAPR Helps Borrowers Compare Loans Wisely and SaveSBG Real Estate launches a new iPhone app, iAPR, to help borrowers make intelligent choices whenshopping for loans or mortgages.Milpitas, CA. March 29, 2011Shopping for a mortgage or loan is not a easy task. In addition to comparing rates, borrowers have tocompare loan costs and fees which vary from one lender to another. Common borrowing questionsincluding when is it a good time to pay additional fees to lower the interest rate, what is the minimumholding period to justify paying additional costs to lower the interest rate, and what is the overall costsof the loan.SBG Real Estate introduces an iPhone app, iAPR, that will answer the above questions in a matter ofseconds. iAPR will ease the pain of comparing loans, whether it a home loan, auto loan, or a refinanceloan. It will help borrowers compare loans with confidence and make a intelligent choice when pickinga loan.iAPR analyzes and compares loans based on the loans APR (annual percentage rate). APR is theeffective cost of a loan in terms of percentage which takes into account of all loan costs. In effect, theoverall loan costs is converted to a percentage, so that loans can be compared easily in a apple-to-applecomparing fashion.The definition of APR varies due to the inclusion and exclusion of certain loan charges. Therefore, theAPR presented by lenders may not include all of the loan costs. This app will allow a borrower toinclude ALL or ANY loan costs in the calculations and comparisons, so he /she knows the true costs ofthe loan.If a borrower has to pay additional fees or costs such as points to get a lower interest rate, iAPR willcalculate the breakeven point or minimum holding period to justify paying the additional fees andcosts. Because the costs of loans are based on loan size and term, holding periods will only becalculated for loans with the same amount and term.This app is designed with consumers and professionals in mind. Consumers with access to the app canmake intelligent mortgage and loan choices. Loan, mortgage, and real estate professionals can helptheir clients/customers pick mortgage according to their needs.What is more? This app also comes with a simple payment calculator with amortization feature and amortgage calculator for home buyer. Home buyers can simply enter their home price, downpayment,and loan information to obtain a estimate of their monthly housing expenses that includes mortgagepayment, property taxes, insurance, HOA, and other housing expenses.Finally, this app is packed with many features including bookmarking, email, help info, settings, andmore.This is a valuable iPhone app for anyone looking for a home, an auto, or a refinance loan. It will helpborrowers to compare wisely and save.
  • 2. Features: 1. APR calculator (home, auto, refinance loans) 2. Calculates the true costs of a loan in terms of APR (%) 3. Calculates the holding period of a loan should you pay additional costs to get a better rate 4. Compare two loans side-by-side 5. Identify the loan with a lower cost (APR) 6. Loan calculator for borrower (home, auto, credit card loans) 7. Purchase calculator 8. Help info available for Buyer calculator 9. Ease of use – large number keypad 10. Ease of navigation – never have to scroll to input numbers 11. Intuitive & user-friendly user interface 12. Convenient calculator for adding loan costs 13. Email feature – email results to clients 14. Bookmark feature– save important calculations for future reference 15. Settings – property tax rate and insurance in the iPhone Settings app 16. Calculate APR for any loans including FHA, VA, & conventional loans 17. Monthly payment 18. Monthly housing payment summary 19. Amortization schedule 20. iOS 4.2 or later (please download the latest iOS)Go to the the iTunes App Store: http://itunes.apple.com/us/app/iapr/id427544287?mt=8&ls=1About UsSBG Real Estate (www.sbg81.com) is a real estate software company that develops mobile applicationsfor the iOS platform.Visit us on Twitter: http://www.twitter.com/sbgrealestateContact UsIf youd like more information about this topic, please contact us at info@sbg81.com. You can alsowrite to us at 45 S. Park Victoria Dr., Suite 333, Milpitas, CA 95035###

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