Gone are the days of doing painstaking research to find the best bank to get a mortgage from. Buying a house or apartment is already difficult, why go through the hassle of loads of paperwork when you can fill out your information online and have it done for you.
Technology has evolved and with it, the digital mortgage process has too. Applying for a digital mortgage takes the stress out of your hands while simultaneously finding the best rates.
Starting the mortgage process can be an overwhelming situation when looking from the beginning. Companies such as OnlineApplication work to make this process fast and easy to use.
The pandemic has shifted much of work to online and gotten rid of the need for face to face interactions. With this new technology why would you do anything on paper?
What is OnlineApplication?
OnlineApplication is a company that works for brokers to find the best mortgage.
Our quick and simple process allows you to upload all your financial information to our safe and secure website. After that we take care of the rest. No face to face meetings, no mountains of paperwork and best of all no lengthy mortgage process.
Mortgage technology is increasing in popularity because it makes the process easier for the lender, broker and the buyer.
With the millennial generation becoming a big portion of the buyers in the housing market, we are entering in a tech savvy generation in which people prefer to do things online with little to no human interaction compared to previous generations that wanted to be in person and doing business on paper.
This new mortgage technology allows people to skip all of the worst parts of applying for a mortgage. Digital mortgage applications keep all of your information safely stored in one place.
How it Works
Using OnlineApplication for your mortgage works very simply. You simply upload your necessary documents.
Our new software will then allow brokers to review, pre-approve and send out your application to a variety of different lenders. This process takes fractions of the time than it would take to do it on paper. A study by The Federal Reserve Bank of New York says that it can be 20% faster.
When COVID first struck, all businesses were forced to adapt quickly to the new online landscape that they were forced into. This caused businesses to change their approach to how business is done.
While this occurred people in finance learned that business can be done simpler and faster online.
An article from Forbes says that 99% of lenders believe that technology can help out the mortgage process, 74% said it simplifies the entire process, 70% said it will reduce time and 67% said that it will reduce data entry.
Digital mortgage applications provide you with 3 main benefits.
Gives pre-approval faster, keeps all documents safe and secure in one location and allows you to sign documents digitally without needing to go into any office to meet with people.
The pre-approval process is done faster when there is a system that can automatically see if you qualify rather than filling out a stack of paperwork and waiting for someone to get the time to look at it.
Keeping all documents stored online will eliminate the need to dig through files and be able to open one folder with all of your information, which helps you and the lender.
Also, by filing it out online it allows you to have more time for what you enjoy by not having a long meeting with a lender.
Now that we’ve established how digital mortgage applications work, the next step is getting started.
To get started go to the OnlineApplication website and click on the “Inquiry” button in the top right of the screen.
It will bring up a new page where it will ask you for your information, organization and what you are looking for.
Someone from OnlineApplication will then reach out to get your process started.
Get Started Now
Start the quick and easy digital mortgage application process now by contacting us with your mortgage needs.
Jimmy LaSusa is an intern from the University of Missouri, who is majoring in Marketing. His interests include International Business, Marketing and Sales.