The Rise of Mobile Mortgages

In case you haven’t noticed, Americans are now using their mobile phones for everything. While great customer service is still appreciated, the majority of the country is more interested in just being able to do something on their own, in their own time. While home loans have a lot of moving parts and require different levels of documentation depending on your situation, a few Lenders have now mastered the art of the mobile mortgage.

An Accenture survey of 4,000 North American consumers showed that one in five completed their mortgage purchase without making a single phone call, and it seems like this is just the beginning. You may have recently seen a commercial for Quicken’s Rocket Mortgage or spotted an ad for Fairway Independent Mortgage Corporation’s FairwayNow mobile app. The cell phone revolution continues and the top lenders have joined the fight.

While a large portion of the mortgage loan process can now be done via a mobile device, the Loan Officer still plays an extremely important role. Consumers still want to make sure they are working with someone they trust, but apps like FairwayNow give applicants another channel to submit their information and documentation.

Home loan Lenders are looking to make the simple things even simpler and the complex things as easy as possible. Apply through the mobile app, upload pictures of documents, electronically sign, and electronic checklists all look to make the process as painless as possible.

Nevertheless, there is a large part of the mortgage process that cannot be done online. This is why it is so important to not just go with any Lender, but choose a Loan Officer you can trust. If you can meet with the loan officer in person, that is even better. Do you really want to entrust the most important investment of your life to a voice on the phone? Lenders like Fairway Independent Mortgage have developed a business model that marries speed and convenience to customer service and communication.

The rise of the mobile mortgage is amazing news for home loan seekers all over the country. Combined with the right choice in Loan Officer, a mobile mortgage app will simplify the pre-qualification and document submission process, turning a formerly intimidating procedure into a breeze.