When first considering the purchase of new Florida real estate, you may not understand (or even know about) all of the terms being thrown at you. This can make the whole process especially frustrating and confusing, and leave you second guessing your decision. But, before you give up on your dream of homeownership, you may want to check out the new MID Calc iPhone app launched by the National Association of REALTORS®.

Homeowners can use the MID Calc to estimate the value of the tax savings of the Mortgage Interest Rate Deduction. Potential buyers can use the buying power calculator to determine how their housing dollars will be enhanced by the tax savings.

To calculate buying power, you’ll need information about your monthly rent and percentage of rent inflation as well as information for your mortgage calculations including home price, mortgage rate percentage, down payment and expected tenure.  Your Highland Homes New Home Counselor can help you with those figures.  Once you enter in all of your information, press calculate and the app will determine your buying power.

The MID Calc is free, and is iPhone, iPod touch and iPad compatible. To download, visit the iTunes store.

Once you’ve downloaded the MID Calc, make sure to stop by one of the many communities built by Highland Homes to try out your new app. The Florida home builder offers new homes starting in the low $100,000’s with just $99 out-of-pocket for qualified buyers, making it easy for potential homeowners to save.

For more information, visit the Highland Homes website.