Chances are you buy a lot of stuff online. Clothes, shoes, food, car tires – you name it, you can probably find it somewhere on the internet.
You should put home loans on that list, too. Whether buying or refinancing, applying for a mortgage online has gotten easier and more prevalent, but is it worth the hype? Buying a home is a little more complicated than buying a new pair of sneakers, after all.
Like with anything, there are pros and cons. But to get a better idea whether applying for a mortgage online is right for you, learn about our own online home loan application tool so you can make an informed decision.
Still not sure? Here are the 5 benefits you need to know about applying for a home loan online with ditech.
1. It’s 100% paperless.
Some home loan applications are as big as novels. Applying for a mortgage online is about streamlining the process. Instead of working through pages of paperwork with a broker, our online application tool gives you a clear path to completion in one user-friendly, digital experience.
If you prefer all your information to be submitted in a hard copy, take the traditional route of applying. Otherwise, a paperless online application is the way to go.
2. You can pick up where you left off – anywhere, anytime.
When you apply for a home loan in-person, you’ll sit down with a Home Loan Specialist and go through all the necessary paperwork together. In most cases, you complete the initial application in one sitting (no matter how long that might take).
Applying for a mortgage online lets you do it all at your own pace. When you begin an application with our tool, you’ll create a login tied to your application.
Did you get started but realize you need a little time to find a document? Your login will save your place wherever you left off. When you’re ready to hop back on the horse, just log in to the tool from any device – laptop, tablet, phone, whatever! – and you’re right back in.
Convenient? For sure. Still, many people enjoy working one-on-one alongside the expertise of a Home Loan Specialist. Whether it’s your first time applying for a home loan or your fifth, it helps to have expert support.
If you’re unsure where you land, the next benefit might sway you in one direction…
3. There’s live support if you need it, the freedom to go it alone if you don’t.
Sure, you’re free to complete your online mortgage application at your own pace. But that doesn’t mean you don’t have help available along the way.
Our online application tool offers live, on-screen support. Our Home Loan Specialists can even share your screen to help guide you exactly where you need to go, and inform you what you need to do.
Just like applying one-on-one with a broker, you’ll be getting help from a real person online. So feel free to add that to the list of an online application’s conveniences.
4. In many cases, you can link your accounts and upload your documents.
Applying for a home loan requires you to submit several pieces of information and documents, which can quickly pile up to a mountain of paperwork.
Applying online makes it easier. Our digital application tool lets you link directly to your bank accounts and upload the important documents you need throughout the process.
And no need to worry about sensitive material getting in the wrong hands. Your information is locked behind 128-bit encryption, which is tech speak for “safe” and the standard for online security.
5. Finally: you can finish fast.
How fast? Well, you can finish in about 30 minutes – and that speaks for itself.
So, are online home loan applications worth the hype? That’s for you to decide. Applying online offers several benefits that make the process fast and convenient. But in the end, it’s up to your personal preference.
Are you in? Take the first step toward the next chapter of your life and get started with ditech’s online home loan application tool today.