Home Sweet Apps let your fingers do the walking through the housing market

Kellogs! Leggo those Eggos!

The apps come with the convenience of having real estate information in your pocket, but be aware that some of the apps connect you to the Internet and/or require you to input personal private information, including name, phone numbers and email.

by Broderick Perkins
© 2010 DeadlineNews.Com



Unauthorized use of this story is a copyright violation -- a federal crime


Deadline Newsroom - Hundreds of real estate and mortgage applications are cropping up in the growing catalogue of housing related apps for Apple's iPhone and iPod Touch and they put housing information at your finger tips.

While the apps come with the convenience of having your home, mortgage and real estate market information in your pocket, be aware that some of the apps connect you to the Internet and/or require you to input personal private information, including name, phone numbers and email.

As is the case with any request for personal information online or off, be sure to check the requesting party's privacy policy, terms of use and disclosures regarding how the app maker, real estate company, agent, lender or any related third parties will use your private personal information. It's not always so clear and it's up to you to determine what will happen to your private data.

Begin your search for housing related apps in the iTunes store using keywords like "real estate," "housing," "mortgage," "home loans," and others -- with and without quotation marks.

Apps mentioned in this article were selected randomly without review, comparison or examination beyond each app's own description and are included only to provide a flavor for what is available.

(Also see: Mortgage comparison apps for iPhone, iPod reviewed)

Home buying, selling, renting apps

The largest crop of real estate apps are listing engines designed largely to help you buy, sell or rent a home.

Depending upon the app, in addition to offering listings of homes for sale or rent -- searched with myriad criteria -- some also offer images of the homes inside and out, open house schedules, mapping and location information and general information about home vales, prices, neighborhoods and a host of related and peripheral information on everything from appraisals to zoning.

Realtor.com Real Estate Search is the 800-pound gorilla of the bunch from the National Association of Realtors. It boasts a whopping 4 million listings you can search for photos, property details, open house info, pricing and a connection with your real estate agent. It also includes a rental search.

With some of them plugging into Realtor.com's vast data base, virtually every real estate company and online real estate operation offers a listings app with varying levels of features and usefulness, including Redfin, Trulia, Zillow and ZipRealty as well as national and/or local offices of Better Homes and Gardens, Coldwell Banker, Century 21, Keller Williams, RE/MAX, Prudential, ERA and others.

NewHomeSource.com offers New Home Search for newly-built homes.

Also look for apps direct from your friendly neighborhood real estate agent including the likes of Valarie "The Real Estate Physician" Jacobs, Washington, D.C. area; Whitney Pannell, Lexington, KY; Beth Lutgen, Minneapolis, MN; and Susan "iSusan" Ullery, Mishawaka, MI.

Special apps

Some specialty apps include Home on the Tube, which lets you use your iPhone to upload videos of your home for sale. Condo Rants and Raves offers comments -- good, bad and ugly -- from residents of 20,000 condo complexes nationwide. WhereULive uses numerology to determine the "energetic nature" of a property. The Walk Score iPhone app determines "Walkability" (reduced dependence on a car) based on the proximity of nearby amenities, such as grocery stores, restaurants, schools, and parks. Local Vibe is a messaging application to keep you connected to what's happening in your local area.

For rental housing, along with Realtor.com's rental listings, try Complete Rentals, CribQ (Craig's List), Find An Apartment, Rentals.com, and Apartment Search - Near Buy.

Mortgage shopping apps

Mortgage shopping applications run the gamut from simple mortgage calculators and average rate monitors to those offering interest rate and loan comparisons.

The Erate Current Mortgage Rates app, with its unique extended menu item sorting feature and horizontal mode and Mortgage Marvel, both let you compare rates without requiring personal information. Others apps in this category include Lending Tree, the nearly identical LoanXEngine, and TheMorty.

To find mortgage calculators search "mortgage calculator" on iTunes and you'll find more than 130 mortgage calculator type apps that will let you know how much you can expect to pay per month based on the home loan, interest rate and other factors.

Utilities

Utilities run the gamut from checklists and comparisons to special listings.

Checklists - Selling Your Home Checklist tracks your selling chores. Rentals allows rental home searchers to collect details and pictures of rentals visited and later make comparisons. iHouse does the same for home buyers.

Comparisons - Mortgage or Rent helps you make the buy-vs-rent decision. Home Value Pro - RealQuest Mobile let's you examine home values. iCrimeAware puts crime stats at your fingertips. Climate Wise Pro Weather offers weather trends by location.

Education - First Time Home Buyer schools newbies. Real Estate Investor tutors investors. Flip Houses teaches you how to flip. Property Flipper Lite allows investors to analyze flipping schemes. Floorplan shows you how to sketch one.

Reference - Realty glossaries include The Real Estate Handbook; Kaplan Real Estate Terms Flashcards and Reference; and iStudy: Real Estate Terms.

Special listings - Auction.com Real Estate Auction Search points you to auctions. Get Foreclosures Now finds foreclosures. Moofuslist finds bank owned properties.

Games

You might as well have some fun while you're at it.

Build-a-lot lets you build, buy and sell homes on your way to Donald Trump mogul status. Trump Tycoon makes you an apprentice in the employ of The Donald. Tower Bloxx lets you build modular housing to the sky, provided it remains in plumb all the way up.

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© 2010 DeadlineNews.Com

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You are reading a sample of "News that really hits home!", now available from several beats and published in a growing number of locations.

Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop.

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• National Real Estate Examiner

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Mortgage apps for iPhone, iPod reviewed

Owners of 200 million phones
just say "No!" to telemarketers

A growing number of mortgage comparison and information apps are available from Apple's iTunes App Store network for iPhones and iPods. The apps also include mortgage calculators, average mortgage rate and index monitors and others.

by Broderick Perkins
© 2010 DeadlineNews.Com



Unauthorized use of this story is a copyright violation -- a federal crime


Deadline Newsroom - Mortgage apps for iPhone, iPod reviewed

by Broderick Perkins

DeadlineNews.Com

A growing number of mortgage comparison and information apps are available from the Apple iTunes App Store network for iPhones and iPods.

The apps range from virtually useless and incomplete apps to those that can be useful adjuncts to mortgage shopping. Even the best are only adjuncts.

In addition to mortgage comparison apps that offer rates from a host of lenders and brokers, there are also mortgage calculator apps and those that monitor average mortgage interest rates, mortgage indexes and other financial indexes.

Reviews here concentrate on mortgage comparison apps, but also include one each from the two other categories.

The reviews here are unscientific and do not attempt to rate the apps or compare one app against the other, except where there was obvious similarity. These reviews only seek to report what each app offers. The reviews here are also not all-inclusive. Other apps are available.

When it comes to finding a mortgage that fits, mortgage rate comparison apps aren't silver bullets. Users still must do some leg work, perform online searches and otherwise hunt down rates that don't show up in the apps. Comparison shopping is always the best bet when it comes to finding a mortgage.

Also, some apps connect to lenders via the Internet and require users to input personal private information, including name, phone numbers and email. As is the case with any request for personal information online or off, consumers are advised to be sure to check the requesting party's privacy policy, terms of use and disclosures regarding how the app maker, lender or related third parties will use personal private information.

Fortunately, all the apps that require users to input personal information will work even if users input disingenuous information.

Search criteria

For reviews of loan comparison apps, to the extent possible, each search included these criteria: a 740 or better FICO credit score; a 30-year, fixed rate, 20 percent down, $400,000 no-cash-out loan with zero points on a $500,000 single-family detached primary residence in the 95112 ZIP Code area (San Jose, CA).

All searches for loan rate comparisons were conducted in one eight-hour period on Feb. 8, 2010.

Loan comparison apps in alphabetical order

Erate Current Mortgage Rates Free Erate.com

There's no need to provide personal private information to search for rate comparisons for 25 loan types. In "Settings" just select the loan type, loan amount, points, purpose (purchase or refinance) and state or District of Columbia and get rates. The app requires Internet access.

The search turned up rates and information from 11 unique lenders. With each lender comes the asking mortgage interest rate, annual percentage rate (APR), points and fees in the vertical mode. Turn the app to the horizontal mode and monthly mortgage payment and the rate lock period are added to the menu. Click on any menu item to sort by that item. The sorting feature is unique to Erate.

Tap on any quote and go directly to web site of lender for more information including loan applications. The app frames the web site, allowing easy transitions back and forth between the app and the web site.

Pros: Easy to use, simple interface. App does not require or collect personal private information. Excellent use of iPhone technology. One of only two apps that provides direct access to lenders' web sites. Sorting ability is unique to the app.

Cons: Not clear how many lenders are in data base. Not property-type specific. No additional assumptions beyond settings.

Mortgage RateFinder Free Lending Tree

Lending Tree's Mortgage RateFinder is cleaner and has a more visually appealing interface than the nearly identical LoanXEngine (reviewed below), a technology partner with Lending Tree.

RateFinder offers fewer features than LoanX, the two turn up different lenders, but they operate similarly. The app requires Internet access.

In addition to loan amount and home value, plug in loan type (22 varieties); loan purpose (three types of purchases, two refinances); cashout required; buy down points; type of purchase/occupancy (primary, second home, investment); FICO credit score and the number of quotes required (5 to 30), among other variables.

Unlike the LoanX app feature, users cannot sign up for emailed rates, including target rates and best rate of the day emails.

After asking for and getting 30 quotes, half the quotes came in from a single lender, six from another lender and the rest from four or five different lenders for a total of about six or seven lenders.

Tap a quote and the page slides to a page of loan details including lender's name, loan type, loan rate, APR, points, closing costs, monthly payment, down payment and origination fees. From the loan details page, users can click "Contact me about this loan" and personal information is sent to the lender who, in turn, will contact the app user. Privacy remains intact only until users hit the "contact me" button.

Lending Tree's "Important Disclosures" (privacy policy and terms of use) link is not embedded in the app, but sends app users to its Mortgage RateFinder app page online where privacy policy and terms of use information are at the bottom of the page.

The app contains an assumptions page (upon which the rates are based); tips about requesting quotes, lenders, the app itself and network issues; and a disclosure that explains when private information is sent to the lender.

Pros: Tips are useful. Not necessary to key in authentic private information. App retains submitted information, eliminating need to repeat the process when changing variables. Easy to use after initially keying in formation.

Cons: Requirement to add private personal information (name, phone numbers and email), before obtaining quotes, is intrusive, tedious and unnecessary beyond Zip Code information for pinpointing lenders nearby. Forced visit to web site for disclosures is likewise tedious. Not clear how many lenders are in the data base. Limited lenders, little variety among lenders found in search. Not clear if the privacy policy for the web site is the same as for the app. No horizontal view.

Other mortgage apps

Calculator

Mini Mortgage Manager $0.99 Bluespark

A souped-up, self-contained, attractive mortgage calculator by a small New Zealand software company, the Mini Mortgage Manager determines your principal and interest or interest-only mortgage payment on a monthly, "fortnightly" (biweekly) or weekly basis.

Use the handy sliders to adjust the loan amount, term of the loan and the interest rate (but not points and other costs) and the app will also give you a complete amortization table including total interest paid over the life of the loan.

A "Canada" mode allows for semi-annual calculations common to Canada's mortgage lenders.

The amortization results can be emailed and then copied and pasted into a spread sheet app, but an Internet connection is not necessary.

Pros: Slick, easy to use estimating tool. Nice, clean interface. Among the highest rated mortgage calculator apps on iTunes.

Cons: Rudimentary. Limited to fixed rate, purchase mortgages only. No horizontal view.

Average rates, indexes

RateWatch Free ($4.99 Pro version) MF Software Online

RateWatch is a simple app offering, not rates from lenders, but real-time average rates, interest rate indexes and benchmark rates grabbed from an Internet connection.

The list includes (and that's all each page is, a list), seven average mortgage interest rates (30-year FRM, 15-year FRM, 30-year jumbo, 30-year FHA, etc.); eight LIBOR indexes; nine Federal Reserve rates; three CD rates and lots of advertisements across the bottom of the screen in the free version. Move up to the $4.99 Pro RateWatch to lose the advertisements.

An economic calendar offers other rates and indexes including unemployment rates, GDP, etc.

Pros: App may be handy for traders, mobile users and rate/index junkies who can't otherwise access this information while on the road.

Cons: Only fringe consumers with a penchant for trading action or those with some unusual monkey-on-their back need for 24-7 access to these indicators will find this app useful. The $4.99 Pro version (which removes ads and adds more decimal points to some indexes and rates) is overpriced compared to similar apps that are free or available for a fraction of the cost but offer a lot more.

LoanXEngine Free LoanXEngine.com

A technology partner with Lending Tree, LoanXEngine boasts a search of "4,000 loan products" users can tap by plugging in certain criteria - in addition to loan amount and home value; loan type (22 varieties); loan purpose (three types of purchases; two refinance and one equity); cashout required; buy down points; type of occupancy (primary, second home, investment); FICO credit score; interest rate wanted, and how many quotes required (5 to 30); among other variables.

Otherwise nearly identical to Lending Tree's Mortgage RateFinder, LoanX claims to offer more lenders and it reveals more features.

Users can sign up for emailed rates, including target rates and best rate of the day emails. The app requires Internet access.

After asking for 30 quotes, the search returned 30 quotes, but several or more quotes each were from a total of about 10 lenders.

Tap a quote and the page slides to a page of loan details including lender's name loan rate, loan type, APR, points, closing costs, monthly payment, down payment and origination fees. From the loan details page users can click "contact me about this loan" and contact information is sent to the lender to trigger personal contact. Privacy remains intact until user hits the "contact me" button.

LoanX app clearly discloses a detailed privacy policy, its terms of use, assumptions used to gather rates. It also offers tips, contact information and a mortgage glossary.

Pros: Tips are useful. Not necessary to key in authentic private information. App retains submitted information, eliminating need to repeat the process when changing variables. Easy to use after initially keying in formation. Easily accessed disclosures and privacy policy available in the app.

Cons: Requirement to add private personal information (name, phone numbers and email), before obtaining quotes, is intrusive, tedious and unnecessary beyond Zip Code information for pinpointing lenders nearby. No horizontal view. Limited lenders found, little variety found among lenders in search.

Mortgage Marvel Free MortgageMarvel.com

Mortgage Marvel boasts access to more than 100 lenders to compare rates and fees without the need to add private personal information. The app requires Internet access.

Key in the loan amount, loan purpose (purchase and refinance with or without cash out), loan type (12); property value; ZIP Code; property use (primary, second home, investment); property type (single family, condo, plex, manufactured, coop); and the number of quotes sought, from 10 to 40.

The app contains assumptions (upon which the rates are based) and terms of use pages.

The search results include the lender, loan type, asking rate, the annual percentage rate (APR), monthly payment amount and closing costs.

Click on a quote for more details (payment schedule, all rates from the lender, etc.) and to go directly to that lender's web site and apply online. The app frames the web site, allowing quick return to the app.

A search turned up 14 quotes, but only from eight lenders, primarily credit unions (7), small banks and mortgage lenders.

Pros: Easy to use. No need to add personal private information in the app. App frames the web site making it easy to switch back and forth between the web site and the app. One of only two apps reviewed that allows users to go direct to lender's web site.

Cons: Relatively few results. Fewer lender choices within results. No horizontal view.

Broderick Perkins, DeadlineNews Group, author of this story, provides content for Erate.com. The Erate Current Mortgage Rates app is an Erate.com product.

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© 2010 DeadlineNews.Com

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Advertise on DeadlineNews.Com | Shop DeadlineNews.Com

Get "News that really hits home!" for your Web site or blog from the DeadlineNewsGroup.Com.

You are reading a sample of "News that really hits home!", now available from several beats and published in a growing number of locations.

Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop.

Perkins is also the first Examiner to cover three beats for the Examiner.com news service:
• National Offbeat News Examiner
• National Consumer News Examiner
• National Real Estate Examiner

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