Have you ever wished you could speed up and simplify the mortgage process? By combining the expertise of our excellent Loan Officers and Account Executives with new technological advances, you can benefit from a faster, more efficient mortgage experience with far less paperwork.
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It’s widely acknowledged that purchasing a new home is a daunting task. It’s a complicated process for the average person, that’s for sure. Getting a mortgage is, for many people, the most difficult part. Loan experts like me tend to get a lot of questions from the average homebuyer: Why is there so much paperwork? Why does this process take so long?
In my quest to serve my clients better and to make successful homeownership as seamless and stress-free as possible, my team and I are excited to offer a new service that has the potential to make big waves in the mortgage industry by virtually eliminating paperwork and greatly reducing the time it takes to get a loan. Does that sound too sales-y, or too good to be true? I can assure you, it’s true, though it may not work for everyone. I’ll discuss the pros and cons of this new lending service as compared to a traditional mortgage experience. Read on to learn about the new, all-digital lending service through Caliber Home Loans, which they call the Ultimate Homebuying Experience.
Promoting Successful Homeownership through Quick & Easy Home Loans
Years ago, no one would have believed me if I told them they could close on their new home in less than 10 days. Now, with the power of technology offered by Caliber Home Loans, it’s not only possible, but it’s being done. The new, all-digital lending service through Caliber Home Loans automates the process, from application all the way through closing. I’m proud to have the ability to serve my clients in this way!
Traditional Mortgages vs. Ultimate Homebuying Experience
Not sure how a traditional mortgage works, or struggling to understand why the Ultimate Homebuying Experience is better than the usual route?
Traditional Mortgages For the typical homebuyers, the search for a mortgage is a big time investment. Buyers are encouraged to “shop around” to find the best deal, which can take a lot of time and can often be stressful and confusing as well. But once a homebuyer has done their shopping and applied for the mortgage they want, that’s not the end of it—the process has only just started. The typical time frame, from start to finish, usually takes about 30 to 45 days— a month or more. During this time frame, there’s a lot of paperwork to be completed. Income, asset, and employee information will need to be verified. Even when a lender is doing his or her best to speed up the process, the traditional mortgage method is fairly slow by nature. Plus, the traditional method tends to use older technology and may not be the most eco-friendly.
The Ultimate Homebuying Experience shines in a lot of the places where a traditional mortgage fails. As I said before, Caliber’s goal with this program is to create an opportunity for homebuyers to get their loan in 10 days or less. Buying a house is stressful and paperwork is tedious, and it’s game changing for buyers to be able to shorten this process. In addition to the stress, there’s also the issue of competition within the housing market. If a buyer in a competitive market tells the seller that they’re planning to close quickly, they may have a better chance at getting the house they want. In addition to being speedier and more efficient (which appeals to just about everybody—why wouldn’t it?), the Ultimate Homebuying Experience is attractive to many people just because it’s more sustainable and eco-friendly. Without the need for fax machines and snail mail, the Ultimate Homebuying Experience’s all-digital process is not just streamlined, but also doesn’t require using a lot of paper. Though you might have to produce a few physical documents, most of it will be online.
Financing Options Available Some people think that, in exchange for its relative quickness and easiness, the Ultimate Homebuying Experience digital lending service must be limited in its financing options, making it impractical or impossible for many people to take advantage of. Thankfully, that’s not the case! With the Ultimate Homebuying Experience, you are not limited in your financing options: you have the ability to use conventional, government (FHA/USDA/VA), or Caliber portfolio loans.
Personalized Customer Care Another great plus is that you’ll still get personalized support despite the service being labeled as “all-digital.” While the paperwork part will be digital, you will still get real customer service from a mortgage expert who can answer all your questions and address your concerns. It’s the best of both worlds.
What’s the Catch? Basically, the only downside to this service, in my eyes, is that not every client will qualify. If you have complicated paperwork due to a variety of reasons— owning your own business, having questionable credit that requires an explanation, or other red flags or complications— unfortunately, you probably won’t be eligible for this lending service. And, although the goal is always to allow clients to close within 10 days, this unfortunately can’t be guaranteed, as there is always some level of unpredictability. Also note: the Ultimate Homebuying Experience is only for purchasing property, not for refinancing.
However, I will say that this really does work for many homeowners, and it’s absolutely worth a shot. Even if you’re not sure whether you’ll qualify, give The Elmendorf Team a call and I can help you find out if the Ultimate Homebuying Experience is an option for your unique situation.
Recap Basically, Caliber’s Ultimate Homebuying Experience takes advantage of modern technology and new thinking to get the mortgage process done more quickly, more efficiently, and in a way that’s better for the environment. Instead of a drawn-out process where you may feel as if you’re drowning in paperwork, you’ll be able to get to your closing date much more quickly and seamlessly.
The Ultimate Homebuying Experience is available now through The Elmendorf Team, which works with Caliber to streamline and improve your homebuying process.