Businesses across a wide range of industries are providing consumers in today's marketplace the ability to manage their lives from their smartphones and tablets. With everything from web pages optimized for mobile displays to applications designed to maximize accessibility to products and services with the mere touch of a button, the emphasis is on immediate access to data. And the good news is mortgage companies are no exception to this trend.
Buying a home is one of the most important decisions that people will make, creating a natural opportunity for mortgage companies to capitalize on the advent of mobile applications to modernize the process. Technology savvy companies in the mortgage business are getting innovative for todays clients, who are accustomed to accessing information on the go. There are also calculators available designed to determine what a borrower can expect in the way of monthly payments. There are apps designed to provide consumers with information about their credit standing –a vital component to qualify for a mortgage loan–and apps to help locate potential lenders. Available too are apps that supply up-to-date information about current interest rates.
And now, if you're in the midst of applying for a mortgage, or are considering purchasing or refinancing your home – traditionally a time-consuming endeavor since a wealth of information must be gathered and processed – there's an app for that as well. Now borrowers and their real estate agents can access real-time information about their loan status in the mortgage process, with an app designed to streamline the paper chase and optimize communications between the lender, the borrower, and the real estate agent. This innovation effectively eliminates the need for multiple follow-up phone calls and emails and allows the borrower to follow through immediately on necessary paperwork, creating a more efficient process for acquiring a loan. With visibility of actual documentation and updates that provide instant status for key milestones within the loan process, everyone will be on the same (virtual) page.
Consumers in the market for a new home will now find that many of the new apps available today incorporate educational tools designed to make the real estate and mortgage process more intuitive for the consumer. Now consumers can have that information at their fingertips in real time as they move along through the home buying process.
In an increasingly on-the-go culture, mortgage companies are capitalizing on the tremendous potential for increased productivity, efficiency, and accessibility afforded by apps for mobile phones and tablets. Now, consumers can add buying a home to the seemingly endless list of tasks that can be accomplished anytime, anywhere.
