Although ProAPOD has been a leading real estate investment software provider to real estate agents and investors since 2000, it has not had (until now) a “Canadian-friendly” version of its software. ProAPOD 6.0 has just been updated and now includes “semi-annual” compounding (the compounding period used to calculate loan payments in Canada).
The main difference between a US and Canadian mortgage is the compound period. Whereas the compound period for US mortgages are monthly, Canadian mortgages are semi-annual. This difference results in a slightly lower monthly mortgage payment for Canadians.
Take for example, a loan amount of $100,000 at 7.00% interest rate amortized over 25 years. The monthly mortgage payment is $706.78 when compounded monthly (as in US mortgages), and $700.42 when compounded semi-annually (as in Canadian mortgages).
How it Works in the Software
After the user opens the V.6.0 real estate investment software, he or she simply opens the loan form and under the heading Type of Compounding, selects either “Monthly (USA)” or “Semi-annually (Canada)“. ProAPOD does the rest. All the monthly and annual mortgage payment calculations used throughout the real estate analysis from that point forward reflects the compounding period selected by the user.
About ProAPOD 6.0
This is our real estate investment software solution for residential agents looking to service multifamily property occasionally, as secondary part of their business, with less effort devoted to commercial real estate. This flagship solution provides everything agents require to make rock-solid buyer and seller presentations, including a wide range of essential calculations, crucial rates of return, printable reports, and outstanding time-saving features, but without the consideration for the elements of tax shelter.
At just $149.95, it is the ideal software for real estate agents-both in the US and in Canada-who want to make rock-solid buyer and seller presentations but do not plan to service more than two or three investment real estate transactions a year.