ClosingCorp has announced the introduction of its SmartClosing Mortgage Calculator, which allows homebuyers to shop for mortgages and estimate closing costs for any residence in the country. San Diego-based Z57 Inc., a real estate Internet solutions provider, will implement the tool to enable its real estate agent clients to make shopping for mortgages and accurate closing costs available to homebuyers. These services will help consumers make informed decisions regarding home purchases.
The SmartClosing Mortgage Calculator provides instant mortgage rate shopping, annual percentage rates (APRs), monthly mortgage payments, closing costs and cash-to-close estimates in a single tool. Real estate agents and mortgage lenders can also use the calculator to identify and capture valuable lead information for individuals proactively seeking homebuying information.
Z57 Inc. will integrate the SmartClosing Mortgage Calculator with its Internet marketing products as a valuable source of content for home shoppers. By offering closing cost estimates at key stages of the property research process, a consumer can make an informed decision regarding a property. The tool also will be used to identify potential home buyers for Z57’s real estate agent clients.
“While other calculators only provide monthly mortgage payments, ClosingCorp’s SmartClosing Mortgage Calculator provides accurate closing cost data that consumers need to gauge the real costs associated with buying a home,” said Ryan Whitlock, chief executive officer of Z57. “It takes local regulations and customs into account while using real, up-to-date rates to ensure the most accurate data delivery. By partnering with ClosingCorp, Z57 is able to provide yet another value-added service for our real estate agent clients to provide to their home buying clients.”
The SmartClosing Mortgage Calculator uses actual costs from ClosingCorp’s proprietary, real estate service provider database, making it unique in the marketplace. It also generates property-specific recording fee and transfer tax costs, and calculates prepaid costs and reserves.
“In today’s real estate and mortgage environment, it is important to provide consumers with a convenient, online source to shop for and price mortgages and accurately estimate closing costs for any residential property in the country,” said Paul Mass, president of ClosingCorp. “Our SmartClosing Mortgage Calculator gives consumers data that is unmatched by any other tool, while at the same time offering our partners the ability to brand the calculator and receive leads, making it a valuable business tool for real estate agents and mortgage lenders.”