CAMPBELL, Calif. - Contour Software Inc. has introduced software to offer potential homebuyers advice about each step of the homebuying process.
The Windows-based program, known as the Homebuyer's Guide, will be distributed by Contour to the mortgage industry. Through a licensing agreement, mortgage companies may purchase the software for $750 and copy it an unlimited number of times to distribute it to potential customers and business partners.
The program will also be offered to real estate agents, financial planners, and accountants for distribution to their clients.
Each copy of the software would have the mortgage company's name and contact information embedded throughout the program's screens. This is aimed at helping mortgage companies use the software to generate leads.
The Homebuyer's Guide takes the consumer through prequalification and house selection to the signing of final papers. Users choose from the following specific exercises: renting versus buying, hunting for a house, making an offer, determining how much a borrower can afford, outlining the kinds of loans the borrower should consider, and comparing mortgages.
The program also uses graphics to illustrate various issues, such as loans over their lifetime, principal reduction, interest expense, mortgage insurance, property tax, and hazard insurance.
The application may be printed out as well as saved on diskette.