When Grandpaw Stonebender helped the newlyweds buy their new home, the young folks turned to him for assistance in finding out how they could finance their new purchase. Grandpaw would drag the blushing young couple down to the bank, where they would sit, fan themselves, eye the folks coming in and out to make deposits and withdrawals, and eventually talk to a bank official who would, if they were lucky, tell them what the current interest rate was on the mortgage they were about to take out. If they were really lucky, or if Grandpaw was friends with the bank official, they might get a slightly better rate than the bank was offering the average rube off the street. Thankfully, things have changed since those “good old days.”
Bankrate.com is not quite as old as Grandpaw Stonebender. It’s been around since 1976 as a financial newsletter specializing in financial trends and information. In 1996, they joined the great migration online. Recently they unveiled a mobile app that gives a panoply of financial data useful to realtors and homebuyers, including the various rates being offered by over 4,800 financial institutions around the United States.
The mobile app is free for Apple, Android, Kindle Fire and Windows devices. What do you get when you plug this app into your phone?
- current rate quotes
- a mortgage calculator that helps you determine what your client can afford and what they can secure from a lender
- search for foreclosures nationwide
- store your calculations and rate quotes for future use
- share your data with clients or fellow agents via e-mail, Facebook or Twitter
- access to articles and blog posts about different aspects of finance, including many that pertain directly to real estate and even remodeling and contracting
- access to a wide array of tax forms and infor, both federal and state
Bankrate.com’s mobile app is a nifty and useful companion app that joins with the other tools in your mobile arsenal to help you keep up with the ever-changing financial world in which you work. It helps your clients find, calculate and land the best mortgage rates for their upcoming home or property purchase, and it helps you provide that information simply by checking your phone. You can find the perfect mortgage for your prospective buyers before the hapless husband can beat a level of Angry Birds.