The Digital Mortgage Hype
It is 2018. The number of people who physically step into a bank or mortgage lender to do a home loan application is dwindling everyday. The vast majority of people now complete an online loan application on a desktop computer, iPad, or even apply via a Smartphone.
Technology allows lenders to do more parts of the process electronically that ever before, including electronically signing your application documents, secure uploading of your documents, and even apps that let you check the current status of your application 24/7.
Very cool technology, with this process now commonly referred to as a 'Digital Mortgage'.
I see many places claiming using a digital mortgage will save you a ton of money. Mainly because somehow this streamlines the process, blah blah blah.
Taking the application online is only one small part of the mortgage loan process. You still need to supply W2's, pay stubs, bank statements, tax returns, photo ID, etc. We still need processors, underwriters, and a ton of back office staff.
While yes, we can now get some of these documents electronically, I haven't done a single loan yet without needing the client to supply at least some of these documents themselves.
You still want to have a conversation with a Licensed professional Loan Officer to discuss your wants, needs and goals. To analyze your situation to determine the correct loan for you, and to answer any questions, and walk you through the process.
Yes, you can complete a loan application in 8 minutes on your phone, but that is a long long long way from being fully approved and actually successfully closing a mortgage loan.
There is no quick rocket way to circumvent the bulk of the mortgage loan process, so don't be fooled or make a lender choice simply because of a gimmicky claim of a digital mortgage process. That just isn't reality - yet. It is the largest financial transaction of your life. Don't entrust it to your cell phone.
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It's easy. Simply complete the Online application. You'll be applying directly with me, Joe Metzler, an experienced, multiple award winning Loan officer with over 20-years in the the business. We lend in MN, WI, and SD. Learn more about me HERE.
Joe Metzler is a Senior Mortgage Loan Officer for Minnesota based Mortgages Unlimited. He was named the 2014 Minnesota Loan Officer of the Year, and Top 300 Loan Officers in the Nation for 2010, 2015, 2016, and 2018. To finance with Mortgages Unlimited, your local preferred mortgage lender for Minnesota, Wisconsin, and South Dakota, simply call (651) 552-3681, or APPLY ONLINE. NMLS 274132. Equal Hosuing Lender.