My Loan Officer

Simple but Powerful.
Whether out at an open house, viewing houses online, or just for fun, this app provides a fast "in the field" pre-qualification estimate - with or without loan officer assistance. The app instantly estimates the debt to income ratio, total monthly payment, and typical closing costs.

Easy to Understand Tutorials.
The user has access to the Tutorial web site, linked in the app, for step-by-step details on what information to enter in each cell.

Income and Debts Screen.
The user enters some basic information:
annual income
monthly debt payments.

The App Screen.
The user:
selects a state from the drop down,
enters a purchase price,
enters down payment,
enters costs to be paid by the seller,
enters an interest rate,
enters a loan repayment term.

Pressing the button tells the app to:

Calculate the user's debt to income ratio. A "red number" suggests that the ratio exceeds the industry maximum of 45%.
Calculates an estimate of additional cash needed for closing costs, prepaid expenses and escrow for taxes and insurance.
Calculates a total estimated monthly house payment.

The app has a very useful "what-if" capability through Edit. The User can increase the down payment, reduce the interest rare, or return to the Income and Debts screen to edit those entries and rerun the calculation.

Contacts Screen - Easy Communication.
The user enters:
A Mortgage Loan Officer’s name, email and phone number. (A loan officer can assist you in calculating the Income and Debt entries for greater accuracy,
A Real Estate Agent’s name, email and phone number.

The app saves this information. The user can email, text or call either contact from within the app with a single click. Found a house on your own - easily email, text or call your Real Estate Agent - instantly!

Private.
The app does not use or save any personal financial information.

Summary.
This app is a simple and fun tool to use for anyone thinking about buying a house. Run scenarios on purchase prices, interest rates, down payments, etc… privately while out at open houses, reading the real estate ads or online.