A new housing application toolkit has been launched, offering users a better way to see what they can afford to pay for a house and find the best deals for their specific needs.

    The application site has been updated with a new, redesigned mortgage calculator, which offers a detailed breakdown of the total cost of a house as well as the income, mortgage payment and down payment that will cover a deposit and annual payment.

    “If you’re looking for a mortgage for the first time, it’s important to make sure you understand the cost of the house before you apply,” says the developers behind the new toolkit, called MTL Mortgage.

    Users can now browse the site by price range, mortgage type, income, down payment and deposit to find the home that will fit their budget.

    They can also compare their house price with the median sales price in their area.

    The new tool is part of a wider initiative by MTL to ensure that consumers are confident with their choice of home, the developers say.

    A new app, MTL Housing, has been developed to help people understand the value of their home and make better decisions about where to buy, and the developer says it has helped the housing market and the economy overall.

    More:The app is now available in the US, UK, Australia and Canada.

    Applications can now be made online or in person at a number of MTL properties, including the newly opened Loews New York City, The Crown Suite Hotel in New York, and The Queen Victoria, New York. 

    MTL says it is currently offering the app for free to existing customers, but it is looking to add additional properties to the platform in the future.

     Users can access the new mortgage calculator from the app’s main page, and they can search for a home based on price range or income, deposit and downpayment.