Mortgages have been around since the 1930s when the United States Federal Government decided to invent the program as a way for Americans to be able to easily purchase homes. With the invention of the mortgage, Americans only had to put down 20 percent of the value of the home as a down payment; before the mortgage, potential home buyers would have to put down at least 50 percent. The government believed the new home buying process would encourage more home sales which would help lift the United States out of the Great Depression.
Technology has done a lot to change the scenery of the mortgage industry. Like with everything else, technology has made this process easier. How has it made the mortgage process easier?
The first way technology has made the mortgage process easier is that you can now shop for your home loan online. Whether you are trying to obtain a purchase mortgage or do a mortgage refinance for your home, it can be done online. You can now shop for one from anywhere and at anytime; you do not have to get all dressed up and go to an appointment with a mortgage broker or mortgage lender. All you have to do these days is open your web browser, you can be in your underwear for all anyone knows, yet still shop for a mortgage. Some brokers make it even easier and allow you to only send one form of information instead of resubmitting for each time. Also, you can pause the application if you get busy and continue where you left off at a later time; you cannot do that in the traditional way.
The second way that technology has improved the mortgage process is that you can use mortgage calculators to see what your potential monthly payment would be. You just have to enter the necessary information and get the results you need and desire. Before technology, you had to wait until your appointment to see what your monthly payment would be.
The third way that technology has improved this process is that you can see real time mortgage rates and determine what your mortgage will look like. You can see what the rates are in your state and know that they are the latest information.
As California mortgage brokers, Virginia mortgage brokers, and Colorado mortgage brokers, we love being able to help you find your perfect mortgage so you can live comfortably in your home after a refinance. We believe in putting you into the driver's seat.
Technology has done a lot to change the scenery of the mortgage industry. Like with everything else, technology has made this process easier. How has it made the mortgage process easier?
The first way technology has made the mortgage process easier is that you can now shop for your home loan online. Whether you are trying to obtain a purchase mortgage or do a mortgage refinance for your home, it can be done online. You can now shop for one from anywhere and at anytime; you do not have to get all dressed up and go to an appointment with a mortgage broker or mortgage lender. All you have to do these days is open your web browser, you can be in your underwear for all anyone knows, yet still shop for a mortgage. Some brokers make it even easier and allow you to only send one form of information instead of resubmitting for each time. Also, you can pause the application if you get busy and continue where you left off at a later time; you cannot do that in the traditional way.
The second way that technology has improved the mortgage process is that you can use mortgage calculators to see what your potential monthly payment would be. You just have to enter the necessary information and get the results you need and desire. Before technology, you had to wait until your appointment to see what your monthly payment would be.
The third way that technology has improved this process is that you can see real time mortgage rates and determine what your mortgage will look like. You can see what the rates are in your state and know that they are the latest information.
As California mortgage brokers, Virginia mortgage brokers, and Colorado mortgage brokers, we love being able to help you find your perfect mortgage so you can live comfortably in your home after a refinance. We believe in putting you into the driver's seat.
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