Introducing PREQ2
Way Faster, Far Better and more Accurate
The World's most comprehensive pre-qualification tool just got better. It now comes with tons of customizations, predicts closing costs and analyzes 20+ rental worksheet simultaneously.
Clients
Conveniently estimate their maximum purchase price and send you important details for your initial assessment. Many advanced customizations are not available to clients.
Mortgage Professionals
Have access and can customize all qualification parameters to maximize the client’s purchase power with extreme accuracy.
Real estate Professionals
Save a tremendous amount of time while helping clients narrow down their search. Realtors can also use the PREQ during open houses to quickly help prospects see if the property is within reach.
Unlike anything you have seen before
$400,000 in 5 min
Broker ONLY Feature
Non-Subject Lender Sheets
With a built-in non-subject worksheet for 20+ lenders, professionals can easily compare purchase power.
PREQ v1 versus v2
Feature | V1 | V2 |
|---|---|---|
Calculate Max Purchase Price | ✔ | ✔ |
Mortgage Rate Match | ✔ | ✔ |
Location Data API | ✔ | ✔ |
Condo and tax estimation | ✔ | ✔ |
Share with Client | ✔ | ✔ |
Reverse CMHC premiums | ✔ | ✔ |
Modern Wizard | ✔ | ✔ |
Push data to other systems. | - | ✔ |
Show off your Testimonials | - | ✔ |
Save and Load Multiple Scenarios | - | ✔ |
| Share Live Link Reports | - | ✔ |
Export Scenarios | - | ✔ |
Estimate Closing Costs | - | ✔ |
Consider First timer Rebates | - | ✔ |
Consider Foreign Buyer Tax | - | ✔ |
Consider Newly Built Home Rebate | - | ✔ |
| Add Unlimited Liabilities | - | ✔ |
| Advanced Debt Input | - | ✔ |
| Debt Pay Off Simulation | - | ✔ |
| New Car debt / lease options | - | ✔ |
Student Loan / Repayment | - | ✔ |
| Existing Property Entry | - | ✔ |
| Non-Subject Rental Sheet | - | ✔ |
Multiple Mortgages & HELOCs | - | ✔ |
Set Future Occupancy Plans | - | ✔ |
| B20 Insurability detection | - | ✔ |
| Optimized LTV Calculation | - | ✔ |
| Unused Funds Detection | - | ✔ |
| Detailed Debt Service Analysis | - | ✔ |
| Calculate Required Income | - | ✔ |
Calculate Minimum Required Funds | - | ✔ |
Exclude Expense from TDS | - | ✔ |
Customize Contract Rate | - | ✔ |
Customize Amortization | - | ✔ |
Custom Max GDS/TDS | - | ✔ |
Customize LTV | - | ✔ |
Custom Subject Rental Rules | - | ✔ |
Customize Expense Entry | - | ✔ |
| Contract Rate MQR Setting | - | ✔ |
PREQ2 is part of our PRO subscription.
Agents can upgrade their Base Mobile App to PRO or PRO Plus.
Personalized
Smart wizard and easy flow that adapts to user responses.
Super Accurate
Designed in consultation with top experts in Canada.
Extremely Fast
The fastest way to provide clients with how much they can qualify.
Beautiful UI
Stunning visuals and animations that enrich the user's experience.
Branded Reports
Generate consumer-facing reports. Update already sent reports.
Multiple Scenarios
Create, store and update an unlimited number of scenarios
Push Notifications
Real time alerts when a client completes a pre-qualification scenario.
Closing Costs Estimation
Intelligently reserves funds needed while maximizing purchase power.
Expense Estimation
Location-specific estimation for condo fees and property taxes.
Customize Expenses
Overwrite all expenses and re-calculate max potential offer.
B20 Guidelines & Rules
Built-in B20 guidelines and insurability rules for the MQR.
Subject Rental Rules
Configure all subject rental rules with add-backs or offsets.
Unlimited Liabilities
Quickly add liabilities and automatically calculate minimum payments.
Debt Pay Off Simulation
No need to remove liabilities and adjust DP ever again. Tap as paid!
Investor Friendly
Add existing properties with 1st and 2nd mortgages and HELOCs
Lender Rental Sheets
Simultaneously view DSCRs for multiple lenders.
Customize GDS/TDS
Set max GDS/TDS and let the app figure everything else out.
Min Income Needed
Find the minimum required income for a specific purchase price.
Min Required Funds
Move a slider and find the required funds for a specific purchase price.
Min Down Payment Rules
Incorporates min down payment rule for insured mortgages.
Exclude Expenses from TDS
Simply turn on a switch an exclude home expenses from the total debt service ratio.
Customize Rates
Set your rate and let the app figure out the MQR while comparing insurability rules.
Enforce LTV
Set a specific LTV and let the app figure out the required DP, purchase price, mortgage and insurance.
Analysis Breakdown
Shows the break down on how all the numbers are calculates similar to filogix
Master PREQ2 with 12 Short Video Tutorials
We also provide dedicated training for your team.
Lender Sheets
What if we were to tell you that the app can simultaneously complete all lender worksheets and calculate their surpluses and shortfalls?
Then feed the data back into our pre-qual algorithm and estimate the maximum purchase price for each.
We just did.
What PROs are saying
Quick, easy and accurate
Simply Powerful
Go PRO Now
