If you’ve been considering beginning your home buying journey for the first time, you may have heard some less-than-favorable stories from your family and friends about delays experienced in the traditional home financing process. Oftentimes, people will experience delays that can have a real impact on the time it takes to complete their home loan. These delays usually creep up when required financial documents can’t be found in a timely manner, communications from the lender are missed, or signatures are missed on closing documents. The mortgage process is notorious for being stressful, but the housing market moves fast and it’s important to work with a lender that can keep up.
Luckily, the Warp Speed Mortgage digital online mortgage process uses technology to minimize or eliminate delays, meaning you’ll experience a speedy and more efficient home financing journey.
Why Speed Matters
Besides the fact that no one wants to deal with a drawn-out mortgage process, a speedy mortgage is advantageous in other ways.
- Sellers in a competitive market are looking for buyers who can close on their mortgage as quickly as possible. Working with an online digital mortgage lender like Warp Speed Mortgage communicates to buyers that you are serious about using technology to move yourself quickly through the loan process and get the transaction done. This can put your offer at a competitive advantage against other potential buyers.
- When you need to move quickly, a speedy mortgage can be the difference between a successful move and a stressful and expensive move.
- A speedy mortgage is a more cost-effective mortgage. These savings aren’t just felt by your lender, they are also passed on to you.
- A speedy mortgage is an efficient mortgage. Moving through the loan process quickly means that your loan officer and their team are communicating with you effectively, avoiding delays, and using technology to minimize human error and close quickly.
How Digital Technology Makes for a Speedy Mortgage
Digital online mortgage technology has been a game-changer in speeding up the home financing process.
- Smart online mortgage applications mean your information is received and reviewed by smart tools almost instantly to determine your next steps, needed items, eligibilities, and raise flags where more information is needed.
- Digital ID verification confirms you are who you say you are by comparing an uploaded image of an ID like a government issued driver’s license or passport with a government database. Automated technology analyzes the uploaded image, scanning for different authentication features, and verifies your identity in seconds.
- Digital asset verification tools make it easy for you to send your financial documents directly to your lender using an encrypted digital key. Your documents are completely secure and there’s no more sorting through paper documents or scouring your online accounts for statements. Missed documents have become a thing of the past.
- Online virtual support is available to assist you at any time if you have any questions and concerns so you can continue moving through the mortgage process at your own speedy pace.
- Electronic mortgage closings, or eClosings, is the process when the majority of loan documents that require a customer’s signature at the time of loan closing are sent electronically and signed with a digital signature. eClosings can help reduce the time spent signing closing documents, eliminate additional fees and delays from missed signatures, and can be done from the comfort of your home.
- Remote notaries (not available in all states) can notarize through audio-visual communications like FaceTime and make closing a completely remote process, meaning you can close from your living room and avoid coordinating a closing meeting with your loan officer and a notary.
How to Get Started
If a speedy mortgage process is important to you, there’s no better time to get started than right now! Begin the process with Warp Speed Mortgage by completing our online mortgage application!
