Most homebuyers will agree that purchasing a house can be a stressful experience. To reduce that anxiety, PNC Bank is introducing a new online tool – Home Insight Planner to make the homebuying process easier, the company announced in a release.
Home Insight Planner lets house hunters create scenarios using their monthly budget to assist them in searching the inventory of houses on the market.
This online tool assists homebuyers to determine how much home they can afford. But unlike other online tools, Home Insight Planner combines a home affordability analysis and a monthly payment estimator that incorporates insurance, taxes and maintenance as well as the ability to search for available home listings.
It connects various budgets, real-time rates and loan products with a real estate listings search capability to help prospective home buyers better understand what they can afford, the release said.
“Planner is not just another mortgage calculator. With Home Insight’s guidance through the mortgage process, customers are better prepared to buy the home they desire and feel more confident in understanding what they comfortably can afford,” Peter Boomer, head of Mortgage Production at PNC Bank, said in the release.
The Home Insight Planner works this way:
- Profile: Creates a household profile by entering information such as annual income, household size and veteran status;
- Budget: Builds a budget including basic living expenses, savings and retirement goals, as well as taxes and recurring debts and obligations to find an affordable or target monthly home payment; and
- Homes: Provides a list of possible homes from the target monthly home payment, including estimated taxes and insurance. The homes are listed by address, city, ZIP code or neighborhood. It also furnishes each home’s monthly cost in relation to a budget using current loan rates and payments as well as access photos and the ability to save favorite candidates.