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Understanding Homebot Home Search's Estimated Payment Insights
Understanding Homebot Home Search's Estimated Payment Insights

Homebot Home Search's personalized insights help buyers understand affordability and investment strategies.

Erica McGarvey avatar
Written by Erica McGarvey
Updated this week

What are Homebot Home Search's Insights?

Homebot Home Search lets buyers browse homes for sale with a smarter, simpler twist: They'll see personalized financial insights on each listing. These insights make it easy to understand affordability and investment potential based on the listing’s data, budget, and market trends.

Keep reading to learn more about how Homebot Home Search calculates estimated payments. Jump into this article for an overview of Homebot Home Search.

How Insights Are Calculated

People using Homebot Home Search can see helpful financial insights on every listing without doing any math. These insights are based on the listing’s data, market trends, and national averages.

Clients customize their downpayment to specify a dollar amount or percentage:

First-time home buyers, renters, or clients without a home in a Loan Officer's database get started with default information based on national averages.

Based on the buyer's estimated downpayment, Homebot makes calculations to provide additional home cost information on the following:

  • Principal & interest

  • Mortgage insurance

  • Property taxes

  • Home insurance

  • Homeowner's Association (HOA) fees

Homeowners who are already in a Loan Officer's database begin with defaults based on their current home loan details in their home digest.

Pro tip: Tell clients to update the Estimated Payment section as soon as they begin searching so they can see their personalized information on the very first listing they look at! They can update this info any time while browsing properties and Homebot will handle all the math automatically.

Have questions? Send support a direct message using the pink message icon in the bottom right-hand corner.

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