Application Description
The mReferral Mortgage Calculator App is a comprehensive tool designed to assist users in navigating their property and mortgage needs effectively. This innovative app provides a range of calculators to help with mortgage expenses, determining affordable property prices, and calculating cash-out amounts following refinancing. Users can seamlessly apply for mortgages through the app, which also offers the convenience of comparing selected P-loan plans with low interest rates. Additionally, the app collaborates with Bank of China (Hong Kong) to offer property valuation services. It's important to clarify that mReferral itself does not provide mortgage or P-loan products but serves as a referral platform connecting users to partnering banks and financial institutions.
The mReferral Mortgage Calculator App offers the following key features and advantages:
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Mortgage Calculator: This tool allows users to input their desired mortgage amount, repayment period, and interest rate to calculate the monthly repayment amount, interest expenses, and stamp duty values. It's versatile enough to be used for both first and second mortgage plans.
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Refinance Calculator: A crucial tool for those looking to refinance, this calculator helps determine the cash-out amount and the change in monthly repayment by comparing existing and new mortgage plan details. It also features an early settlement calculation function for added convenience.
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Affordability Calculator: This calculator enables users to input a mortgage amount and LTV ratio to find out the affordable property price, income requirements, and stress test requirements, making it easier to plan financially for a property purchase.
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Mortgage Application: The app simplifies the mortgage application process through its API technology, allowing users to apply directly to banks for a fast and user-friendly experience.
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Property Valuation: In collaboration with Bank of China (Hong Kong), users can quickly obtain the latest property valuation by simply entering the address, providing valuable insights for their property decisions.
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P-loan Application: Users can compare various P-loan plans with low interest rates and apply instantly within the app. These loans can go up to $3 million, with flexible repayment periods ranging from 3 months to 10 years, and an APR ranging between -99% and 8%.
It's essential to note that mReferral does not directly offer mortgage or P-loan products but acts as a referral service. The app provides information and facilitates connections to mortgages or P-loans offered by partnering banks and financial institutions. Any offers, privileges, or handling fees are governed by the terms and conditions set forth by these institutions, which may also charge handling fees and alter their product terms without prior notice. Detailed examples and conditions of P-loan applications can be found in the T&C section of the app.
mReferral Mortgage Calculator Screenshots
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