The Process of Getting a Mortgage May Move Completely Online

29 Jan

Many borrowers would rather not call a broker or visit a bank

Market Watch – Amy Hoak

The Internet is often the first place mortgage seekers turn to research how much they can afford and to get rate quotes. But many borrowers say they wouldn’t mind if the entire mortgage process moved online—and for some, that’s becoming a reality.

Of recent home buyers surveyed by Discover Home Loans, 36% said a mortgage process without any phone calls or meetings with the lender or broker would be much easier. Seventy-one percent of the 1,003 people surveyed said they’ve already submitted lender documents through email, apps or websites, 54% filled out online mortgage applications, 50% scanned and submitted closing documents and 47% got prequalified for a mortgage through a lender’s website, according to the survey results.

>> Read More: http://www.marketwatch.com/story/the-process-of-getting-a-mortgage-may-move-completely-online-2015-01-27

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