Many homebuyers are discovering the number one advantage for using a Digital Mortgage Market Place to obtain a mortgage is because they save 10% of the purchase price on any home.
This happens because these digital mortgage market places not only identify the lowest rate and fee mortgage loan from the Nation's best lenders, but they leverage automation to reduce the cost to deliver a completed loan; therefore their rates are generally 1% lower than most lenders and banks
With so many options out there, it can be difficult to know where to start when it comes to finding the best mortgage rate. But now, thanks to these digital mortgage marketplaces, a multi-mortgage lender platform, you can get the lowest interest rates and fees mortgage in just three minutes. In this blog post, we'll explore how this technology works and why so many homebuyers are taking advantage of it.
What is a Digital Mortgage Marketplace?
A digital mortgage marketplace is a multi-lender platform that connects borrowers with multiple lenders all in one online session. It uses advanced computations to match borrowers with the lender offering them the lowest online pre-approved interest rates and fees-all in just three minutes! This means that you don't have to spend hours of your time researching different lenders and trying to compare their offers; instead, you can simply use the digital marketplace and instantly find the best deal for you.
How does it Work?
The process is simple. All you need to do is enter your basic information into the platform, including your credit score, loan amount, loan type, and other relevant details. The platform will then process your submission to identify all online mortgage pre-approvals from the lenders who meet your criteria. The digital mortgage marketplace will then calculate all interest rates, and closing cost based upon each lender's fees, and will return the lowest rate and fee loan all in one user session.
You can still compare each lender's offer side by side in order to determine which one suits your needs best. However, leveraging the power of automation these sites generally list loans from best to worst. Once you've chosen a lender and accepted their offer, they will begin processing your loan application right away!
How Can It Help Homebuyers Save 10% of the purchase price of a home?
By using a digital mortgage marketplace, homebuyers are able to access loans at lower interest rates than they would otherwise be able to find on their own. On average, homebuyers are able to secure loans at 1% lower interest rates than if they went through a traditional lender or bank-which translates into 10% more purchasing power for free when buying a home!
This one percent savings in interest rates is equal to about 10% of the purchase price on any home. Homebuyers can either purchase more home for free compared to an average rate loan or pocket the payment savings.
Additionally, because everything is done online (from entering information into the platform to comparing offers), it saves time as well as money; plus, with everything being handled digitally there's no need for paperwork or trips back and forth between banks or other institutions!
Digital mortgage marketplaces are an incredibly useful tool for homebuyers looking for the best possible rate on their mortgage loan. With this technology, borrowers can access loans at up to 1% lower interest rates than if they had gone through traditional methods-which translates into more purchasing power for free when buying a home! Plus, everything is done quickly and easily online without any paperwork or trips back and forth between banks or other institutions. If you're thinking about buying a house soon, take advantage of these tools today in order to get the best rate possible!