Solving Your Time Squeeze With Tech Solutions When Applying for a Mortgage Loan
By Gina Jackson
Cornerstone Mortgage Company
It is a busy world out there. One has to fit the process of buying a house in with one's work day, international travel, car pool, high school soccer games, board meetings, doctor's appointments and whatever else is on the agenda. An appointment with a mortgage lender is the last thing one wants to stop and do.
Fortunately, the mortgage-lending world is aware of everyone's time squeeze, and lenders on the cutting edge are making the process of applying for a loan Internet-friendly. High-tech solutions can inform you quickly about the loan process and about current interest rates. Here are some Internet solutions which you should check out with your lender:
- E-mail alert system - Perhaps you have seen your dream house, but you are not ready to sign a contract until the interest rates come down. Or maybe you have a house under contract, but you do not close for 40-60 days, and you hope to close at a certain rate. A good lender should be able to set you up with an e-mail alert system so that you are notified the second the rates reach the level you desire.
- Apply for a loan online - Your lender should have a website that is open to everyone, so ask him or her how you may obtain after-hours access online to apply for a loan. At my website one may fill out the online application, then print out the form, sign it and fax it to my office. This timesaver helps if your lender is busy during the only time you are available for an application.
- Learn more about your lender online AND learn answers to key questions - A good lender will have information about the company online as well as several of the most frequently asked questions and their answers, such as:
- How do I know how much I can qualify for?
- What are the tax advantages of my mortgage?
- How much money do I need for a down payment and closing costs?
- Access market information - For potential and established clients, a special website should be available through a password given to you by your lender. MyRateAlert.com is just such a site, which offers the latest market commentary, interest rate trends, upcoming economic forecasts and interest rates, even after closing.
So get on the tech bandwagon with your mortgage lending company. This is at least one way in which you may simplify your life.
 |
