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“Alexa, help me find a great mortgage rate.”
It’s hard to believe that just a few years ago, we had to call several banks and spend hours on hold to get the same information that our electronic host can find in seconds. Advances in technology over the past couple of decades have made virtually everything in our lives more accessible and that includes the mortgage process. Keep reading to find out how the lending landscape has evolved with the introduction of new tech from a panel of professionals.
Jake Hill, CEO of DebtHammer.
Faster, Easier, Better
Technology makes the mortgage process faster, easier, and often better overall for borrowers. It allows people to go online and shop around for the best deals and offers that are suited to their unique needs without requiring much effort. Once they’ve found an option that looks right for them, they can quickly go through the pre-approval process without having to fill out extensive paperwork by hand. Even filling out an application online takes way less time than filling out a paper application and mailing it or hand-delivering it to the lender. The amount of time it takes to get approved is significantly shortened as well.