Today, we’d like to quickly go over the features of this new application software. By the end, you’ll understand how the new software works and the steps that help prepare when submitting a online mortgage application.
Three Simple Steps
The new online mortgage application software – which can be seen by clicking this link here – consists of a few basic steps. The first step is to create an account by providing us with an email address and a personalized password. Next, the software will identify which type of loan products to apply for: either a purchase loan or a refinance loan. Then, we will collect some personal information, including name and a current address.
Next, it will specify exactly which type of home can be acquired: single family residence, condominium, townhouse, and so forth. The software will also identify how the property will be used . Then the software will give more details about the loan that can be obtain. This is done by providing a projected sales price, down payment, and projected loan size. It will provide us with a social security number so we can perform a credit check.
The next step in the online home application software is to provide details on all assets and income. The mortgage software can link bank accounts, or document, and much more. Next, the software provide details on recurring income. Income can be added from any source, including W-2 employment, independent contractors, investments, and so forth. The software will then indicate if real estate is currently owned. The mortgage software will then provide specific information on financial situation, and also indicate citizenship status. It will then give us a few details regarding demographic data. Finally, it will fill in a few more details about past address history, employment history, and property ownership history, educational background and number of dependents. Then simply review the information, and submit for official review by Sammamish Mortgage!
When submitting an application through the online mortgage application software, be advised that a credit report will be pulled for review. This is a typical step in the mortgage application review process as a credit history will play a role in eligibility and potential interest rates.
It’s Really That Simple
It’s that simple! The new streamlined software removes a lot of the anxieties which are often a part of other mortgage application processes. With the new software, anyone can complete the entire process in a fast and convenient manner – the whole process can even be complete from a phone! Get in touch with us today to apply or reach out to one of a mortgage professionals for more information.