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From Initiation to Closing: Home Mortgages Go Digital

Cari McCue
Apr 28, 2015

The Digital Age is in full swing within the housing industry. Homebuyers can search for homes, take virtual tours and begin the mortgage approval process, whereas home sellers can compare prices and begin the selling process from their laptop, smartphone or tablet before even stepping foot into the office of a real estate agent or mortgage lender.

Today’s virtual meeting options, online calculation and rate tools are changing the way home mortgage lenders work, and they’re simplifying the process for buyers and sellers.

Not only do today’s technologies make buying or selling a home easier, they also make managing your new home loan a snap. After a buyer obtains a home loan and moves in, there are plenty of online options to simplify the process of making monthly mortgage payments and handling other associated tasks.

From start to finish, we suggest taking advantage of a few digital tools we think stand out from the crowd and will help you get through the process like a pro:

Mortgage calculators: To get you started in the process, use an online mortgage calculator to find the mortgage type and rate that will fit your budget.

Bankrate Mortgage: This tool lets you calculate monthly mortgage payments, property taxes, homeowner association dues and more. You can also view amortization tables so you can work toward reducing your loan balance, and you can check on current mortgage rates if you’re considering a new purchase or refinance. It’s available for iOS, Android, Kindle Fire and Windows.

Zillow Mortgages: Not sure how much home you can afford? Try the Zillow Mortgages app. Input financial information such as your monthly debts and your expected downpayment, and the app’s built-in calculators will determine what mortgage payment you can afford. Then, you can use that data to start looking for a home within your price range. This app is only available on iOS devices.

Mortgage Payoff Track: Want to pay off your mortgage sooner rather than later? This app can help. Enter your home loan data, and you’ll get access to valuable charts and graphs that help you visualize what you owe. There are also tools that help you determine ways to save on interest, either with lump sums or by increasing your monthly payments. Mortgage Payoff Track is available on iOS and Windows.

Refinance Calculator: Another technology from Zillow, this online tool lets you see what refinancing could do for you. It shows your monthly savings, the date at which you’ll break even and the total savings over the lifetime of your loan. The tool is available online.

Ready to start the process of finding a new home loan or refinancing your current loan? Use one of these technologies to help you start the process.

Cari McCue, Guardian Mortgage’s chief operating officer, is an accomplished executive with more than 20 years in mortgage banking. As an industry leader, she has been a key factor in growing Guardian Mortgage rapidly, ethically and responsibly. Cari founded the company’s Correspondent Division in 2012. In addition to her role with Guardian, Cari is also a member of the Board of Directors for the Texas Mortgage Bankers Association.

Apr 28, 2015