If you're buying a house, what do you know about your ability to buy that dream home, and what format do you prefer if you don't know? Here's a great one from NPDodge.com that automatically inputs the price of the house and it's really nice how it changes when you click on down payment % options. But is this enough? Too much? Never used?
Stephen,
Such programs are fun, but are a dis-service to most consumers. The likely hood of even coming reasonably close to your final payment is low. The consumer is going to underestimate his cost and look for housing he can't have or over estimate his cost and rule himself out of good affordable housing.
The sooner the consumer seeks good professional mortgage consuling the better the out come.
Bill
William, that goes to what we're leaning toward, i.e. an easy one that just shows P&I for the list price. The whole concept of THEM picking a rate is so naive, huh? We're thinking we'll tie into a mortgage company at that point and allow them to click on somebody that can pre-approve them. How's this for an idea? We have an icon on the logged-in consumer that shows "I'm pre-approved" and follows them throughout the site for any requests for further information? Just a thought. Thanks for the comments.
Comments(4)