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How Mortgage Technology Simplifies the Home Buying Process 

March 7, 2022

How Mortgage Technology Simplifies the Home Buying Process 

Over the last few decades, technology has revolutionized the way people buy homes. From online home shopping sites like Zillow or Trulia to virtual tours and mortgage calculators, there are some incredible tools that simplify the mortgage process and make it easier than ever for potential home buyers to do what they need to do online. 

At The Mortgage Firm Gainesville, we guide you through using these mortgage lender technologies so that, along with our years of expertise, we are able to give you an enjoyable home buying experience. Read on to learn more.

The Mortgage Tech We Use

Along with offering you a knowledgeable and experienced homebuying team, at The Mortgage Firm Gainesville, we also offer you the resources and technology to take some of the stress out of homebuying. We are proud to use QuickQual and AccountChek to serve our customers. 

QuickQual

QuickQual is a mortgage calculator that allows your loan officer to send you text messages directly from the loan origination system. Potential borrowers can then input varying payment and closing cost scenarios as well as access pre-approval letters when needed. This streamlined communication system makes it easier for borrowers to know their buying power and for mortgage lenders to guide them in the right direction. 

AccountChek

AccountChek is a third-party service that mortgage lenders use to collect and compile your digital account statements more securely than other methods of transferring financial information. The most significant advantage is that the service finds the information lenders need without borrowers providing it. 

Benefits of Using Mortgage Technology

There are multiple reasons why we choose to use mortgage lender technology, including security and efficiency. The COVID-19 pandemic necessitated that more businesses shifted to doing things online, in a safe, secure way, and these mortgage tools deliver. 

Unmatched Convenience

One of the biggest advantages of using these mortgage lending technologies is that they’re available on your schedule. You don’t have to wait for regular working hours — not that we follow those at The Mortgage Firm Gainesville — to get the information you need or move your loan process along. The beauty of these mortgage lending tools is that you can access these technologies any time, day or night. 

Similarly, digitization makes it easier for your mortgage lending team to access your documents even when they’re away from a computer. All parties can make changes in real-time, alleviating the hold ups that occur when only one person can handle the paperwork at a time. 

A Local Focus

The other significant benefit is that mortgage technologies charge local fees and are more customized and plugged into your specific mortgage application. Rather than using a non-location-specific lending tool that can’t give you exact information based on where you are, the tools we use utilize information pertinent to where you are home shopping. 

Meeting Buyers Where They Are 

Millennial borrowers now make up the largest homebuying group, and this demographic has grown up accustomed to using technology for communication and daily living.  Offering online options shows the homebuyer that you understand what they need. It elicits confidence in your expertise, which will be even more valuable as Gen Zers also enter the home buying marketplace. 

Verification Made Easier

Borrower verification is also quicker and less hassle with mortgage lending technology. Lenders quickly get the information they need, such as asset, income, and employment information, and will reduce the amount of time it takes to obtain a pre-approval, makes the pre-approval more accurate and will allow you to close faster, which can help with the offer process as well. 

Easier Data Compliance

There are more stringent regulations than ever to protect consumers and mortgage lenders. Using digital mortgage tools helps ensure that data exchange and storage are in compliance during every step of the home buying process, including the application and underwriting processes. 

The Mortgage Firm Makes Your Home Buying Process Better 

When you’re ready to buy a home, it’s easy to see that the digital mortgage lending tools make the process more efficient, less stressful, with possible faster closings and the ability to mitigate potential hurdles as soon as they arise. Processes are streamlined but no less secure or thorough, allowing your Home Buying Team at The Mortgage Firm Gainesville to continue delivering the high level of customer service people have come to expect from us. If you’re ready to see what a difference these digital tools and The Mortgage Firm Gainesville as your guide make, reach out to us today!