MortGauge is a set of online educational and financial tools used by aspiring homeowners, realtors and mortgage professionals to provide an overview of the home-financing process, to facilitate the process itself, and to provide ongoing home-financing support.
It's a self-serve solution that allows consumers to get concrete answers, specific to their personal financial situations without obligating them to commit to buy a home before they're ready.
It provides a convenient, permanent, and secure place to store information and to use in a hands-on way to learn how different aspects of one's financial situation affect the GDS and TDS ratios the banks use to determine mortgage eligibility.
The app will actually determine exactly how much a pre-approval will be for.
While home shopping, the question of "what will happen if I go over my pre-approval limit?" always comes up. Not only will the MortGauge system help answer this question, it'll do so on the spot via any internet enabled smart phone.
At document submission time a client's online account will now display a list of conditions and allow them to upload the documents needed to fulfill them. They're able to check or update the status of each document and allow others, such as their realtor, to do the same. It is also possible for a client's whole team to receive email or sms updates whenever changes to the condition list occurs.
Finally, after funding mortgages are automatically monitored. Log in at any time check the remaining balance, see how much interest is being paid, see the effect changing payments might have or investigate an endless array of possibilities related to mortgages and each client's personal financial picture.
To learn more, please view our how-to videos on youtube at www.youtube.com/users/mortgauge or get started today at either www. MortGauge.ca or apps.facebook.com/mortgauge.