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TiCOON Pro

TiCOON Pro
  • #: 21363
  • Price: $2.99 In Apple Store
  • Category: Finance
  • Updated: 2010-11-30
  • Current Version: 1.4
  • 1.4
  • Size: 0.40 MB
  • Language: English
  • Seller: The Xylem LLC
  • Requirements: Compatible with iPhone, iPod touch, and iPad. Requires iOS 3.1.2 or later
  • © 2009 The Xylem LLC
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Description

TiCOON Pro is the essential tool for real estate professionals, investors and loan officers. An entire real estate transaction may rely on the ability to quickly provide a potential buyer with two pieces of accurate information: payments and out-of-pocket costs.

Offering complete versatility to conform to any real estate transaction, TiCOON Pro is the most comprehensive App for lightning fast mortgage payments and estimated closing costs. Don’t just get to the closing table. Own the closing table.

Key Features:

♦Professional grade application for industry professionals

♦Property taxes paid in advance? In arrears? Set up unlimited templates tailored to each geographic area or customary method of doing business

♦Automatically calculates Mortgage Insurance (MI) based on Loan-to-Value (LTV) and mortgage type (FHA or Conventional) using latest industry MI rates

♦Automatically calculates Up-Front Mortgage Insurance (UFMI) for FHA

♦Includes check-and-balance system warnings for potentially unfeasible inputs (insufficient down payment, improper escrow waiver, etc)

♦“Quik Payment” module to instantly calculate simple amortization payments

♦Working with Land Contracts? Use the “Quik Payment” module to calculate payments and balloon payoffs.

♦”Extra to Principal” feature easily calculates long-term and balloon payoff savings

♦Evaluating multiple properties? Export each TiCOON Scenario via email to yourself and your clients for easy retrieval.

♦Customize inputs for hazard insurance, flood insurance, association dues, and more

♦Calculates total monthly payment with breakdowns for Principal & Interest, Mortgage Insurance, and Property Taxes, including Flood/Hazard Insurance and Association Dues if applicable.

♦Provides estimated closing costs as High, Mid and Low brackets, combined with down payment to formulate Total Out-of-Pocket Brackets.

♦Quickly edit inputs and re-run TiCOON Scenarios

♦Intuitive interface for easy navigation

What's New in Version 1.4

Resolved lock-up issues experienced by users upgrading to iOS4.x.
FHA Up-Front MI and Monthly MI updated per HUD Mortgagee Letter 2010-28.

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Rated 5/5 based on 3 customer reviews.

 

5/5 stars

Must Have for RE Agents

:
Very useful tool...I can run numbers on the fly and email them to clients (I also email a photo of property separately). Highly recommend....don't count on the online calculators or your bank person to be there...this app will help your buyers make purchasing decisions.

5/5 stars

True Review

:
I do "normal" Real Estate by day and real estate investing on the side. In either case, I'm either pressed to give my buyers an idea of payment/costs or looking to figure it up on my own if considering a quick purchase on a hot property.

I work in an area where some tax authorities have one bill per year (paid backwards), and others where taxes are in July/December and paid in advance. Believe it or not, this can make a HUGE difference on bottom line cash to close. The last thing I need is to write up a deal for my buyers only to have them sit down with their lender and find out their cash to close is too high. The deal dies and my buyers are sour on the whole process. Don't get me wrong: I don't want to put myself in the position of being responsible for their financial figures. I don't know if they are paying points, etc. But I need something to give them an ESTIMATE of where the numbers will shake out.

The app does just that. I have 2 templates set up: One for the 2x tax paid in advance, and one for the 1x tax bill paid backwards. Dependig on which area I'm in, I choose that template, pop in the tax figures, and off I go.

You do need to know which type of financing to choose. Is your buyer going FHA or conv? If you don't know this already, then that's a problem anyway. Find out what they are pre-approved for so you can simply make the choices in the app. I've found that the app gives me some basic error messages if I make a mistake (like trying 0% down on FHA), but it does help to know the type of financing. Since I'm not the lender, I simply use a rate that my buyers suggest, and the rest is simple. I can email the results (I also like to send them a photo of the home separately), and we're either off to the next house or ready to write up an offer.

SUMMARY: The app works great. No lockup issues with new version. I was able to go through their tutorial on their web site and found them reponsive to an email (within 24 hrs).

Overall, this is a great tool and a smart addition to my arsenal. Bottom line, it helps me make money.

5/5 stars

Great Resource

:
I'm impressed that the makers of this app are so up to date on FHA PMI. I doubt most others even know what a "Mortgagee Letter" is, lol. It's easy to use and accurate. In the field, best tool available for payments, land contracts, balloons, closing costs, etc. LO's in my company with other smart phones are jealous of my iphone just for this app as it appears it's only for apple prods at this point.

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The information may be outdated (2011-03-28 00:20:03). For actual information go to iTunes


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