May 25, 2017
It was back in the late 1990s that online mortgage
applications were first made available. Back then, borrowers had a choice
between applying online, faxing or mailing an application or meeting with a
loan officer face-to-face. It took some time however for consumers to get
comfortable submitting an online mortgage application as the internet
experience was still relatively new. Over time however, as consumers began to
view the internet as a tool and less of an experience, online loan applications
began to take hold and today mortgage lenders everywhere provide an online
access to complete a loan application. In fact, most consumers prefer the
convenience of an online application and less so of scheduling a meeting with a
Our proprietary FastTrac system is an example of the latest,
most secure technology available today and not only allows borrowers to submit
a loan application at their convenience 24/7, they can also retried their
credit scores, review loan choices and obtain an online mortgage approval. Once
the application is securely submitted to the lender, credit can be pulled along
with credit scores.
The security algorithm is considered one of the most secure
available using the latest in technology and not only allows borrowers to
submit a loan application online but also allows borrowers to track the
progress of their loan. These features are not only convenient but help speed
up the entire loan process altogether. Working with your loan officer, you can
quickly determine the types of documentation the loan officer needs in order to
proceed with your loan application. Borrowers can receive an almost
instantaneous preapproval online, something which in the past could take days.
This of course does not replace your loan officer, by any
stretch. Instead, it’s an additional tool you and your loan officer can share
that will streamline you purchase or refinance application with all available
loan programs. Once you submit an application and provide a property address,
you will receive your official loan documents and compliance paperwork you’ll
need to review, sign and return. At the same time, your loan officer is
contacting various third parties needed in order to close your mortgage loan.
For more information or questions about mortgage loans, please call (855) 757-8748.
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