Application Description

The mReferral Mortgage Calculator App simplifies property and mortgage management. This handy tool offers a suite of calculators for various mortgage-related needs, including calculating mortgage expenses, determining affordable property prices, and estimating cash-out amounts after refinancing. Users can even apply for mortgages directly through the app, comparing various P-loan options with competitive interest rates. The app further enhances convenience by providing property valuation services powered by Bank of China (Hong Kong).

It's crucial to understand that mReferral itself doesn't provide mortgage or P-loan products; instead, it acts as a referral service, connecting users with partner banks and financial institutions.

Key features of the mReferral Mortgage Calculator App include:

1. Comprehensive Mortgage Calculator: Calculate monthly repayments, interest costs, and stamp duty for both first and second mortgages by inputting loan amount, repayment period, and interest rate.

2. Refinance Calculator: Easily determine potential cash-out amounts and changes in monthly payments by comparing existing and proposed mortgage plans. Includes early settlement calculation functionality.

3. Affordability Calculator: Estimate affordable property prices based on your desired loan amount and Loan-to-Value (LTV) ratio. Calculates income requirements and stress test thresholds.

4. Streamlined Mortgage Application: Apply for a mortgage directly through the app, leveraging its API integration for a quick and easy process.

5. Convenient Property Valuation: Obtain up-to-date property valuations from Bank of China (Hong Kong) by simply entering the property address.

6. P-Loan Comparison and Application: Compare various P-loan plans offering low interest rates and apply instantly. Loans are available up to $3 million with flexible repayment periods (3 months to 10 years) and APRs ranging from -99% to 8%.

Important Disclaimer: mReferral solely provides referral services. All mortgage and P-loan information is presented on behalf of partner banks and financial institutions. Offers, benefits, and fees are subject to the terms and conditions of those institutions. Some institutions may charge handling fees and may alter product terms without prior notice. Refer to the app's Terms & Conditions (T&C) section for specific examples of P-loan applications and details.

Finance