Apply for a Home Loan Online: A Beginner’s Guide
The mortgage application process has traditionally been a cumbersome, time-consuming, and paperwork-heavy one—one that required lots of printing, signing, and meeting in person. But now, thanks to the online home loan, the process has become infinitely easier.
Today, applying for a mortgage has the potential to be an easy, pain-free process that can be done from anywhere, by anyone, at any time.
What Does an Online Home Loan Mean for You?
Put simply, an online home loan means a faster, easier, and more convenient application process on the whole and, in most cases, quicker results, too. You can get prequalified, apply for your loan, and have your mortgage approved all from the comfort of your own home (or mobile phone), without ever leaving your office or couch.
That means no tedious meetings or appointments. No drives across town. Just use your favorite device to click, type, upload the necessary information, and you’re well on your way to a new home. It’s that simple.
What Do You Need When Applying for a Mortgage Online?
To apply for your home loan online, you’ll need to have some information on-hand to make the process as quick and painless as possible.
Specifically, you’ll need to tell the lender about:
- The property you’re buying, its price point, and its location
- Your income, including where it comes from and how much you make per month
- Your employment history, including a list of your past employers and supervisors
- Any assets or financial accounts you have, such as 401Ks, savings accounts, stocks, etc.
- Details on your current living situation and property
- Info on your spouse (if they’re acting as a co-borrower on the loan)
You may also need to submit certain documents, including recent pay stubs, W-2 forms, tax returns and employment verification forms. In most cases, you will be able to do this digitally via a secure upload link for added convenience.
Apply for Your Home Loan Online
Applying for a mortgage online can be a game-changer as a home buyer, saving you time, money, and tons of hassle.
Unfortunately, online home loans aren’t available with every lender on the market. If applying for a mortgage online is important to your home buying journey (and it should be!) make sure you find a mortgage company that offers a fully digital, online home loan process first.
Want to apply for your loan online today? Start the process right here at Embrace Home Loans.