Buying and selling a home has never been as easy as it is today. Most information that has remained solely in the hands of realtors a decade ago are now available to any regular buyer or seller through the networked convenience of the internet. And it is this same generous convergence of business and data that allowed for the development of new tools to help usher a new era of mortgage and real estate.
In this list, we have compiled the most useful tools readily available online to any individual looking to apply for a loan, buy or sell a home:
Credit Profiling Sites
Your creditability is primarily determined by your lender through your credit profile. It is thus convenient to know that you can monitor your own credit profile through some online portals such asAnnualCreditReport.com. This government-mandated free credit report site shows you your annual credit report from all your accounts that the three credit bureaus Equifax, TransUnion, and Experian have on file.
With this, it has become easier to monitor your credit data which in turn allows you to dispute errors and discrepancies promptly.
Websites that give you access to your credit scores without charge are available as well.
Mortgage and other lending websites are replete with information that cater to loan acquisition and management. By a simple keyword search, you will be led to thousands of resources that will guide you from first step to last of any loan process. From private lending companies to government agencies, the conventional office consultants have migrated into the searchable web that allows for updated, real-time, printable, downloadable content.
Direct connectivity to government services, for example, is one of the most convenient features of real estate today. No longer are you to deal with never-ending files and queues in government offices when you can directly transact from the convenience of home.
Finding a lender is only a click away. With thousands of linked sites that network lending professionals on the fly, time to say bye bye to yellow pages and wired telephones. You can even filter your options to narrow your selection to your local state, region, or community.
For lending applications, software has made possible online submissions. You only need to scan your documents and fill out the necessary forms. Some even offer same-day approvals.
Online, you can find lenders who will process your application at the soonest possible time, as convenient as ordering a box of pizza.
The portable advantage of smartphones is slowly transitioning business from the desktop to mobile, hence the birth of applications or apps as they are more known. Real estate applications that cater to the needs of the mortgage and lending industry such as home shopping, mortgage application, and real-time lender-borrower inquiry has improved since its inception.
Now there’s Trulia and Zillow, Redfin and Homesnap, and an incredible variety of Android and iOS apps free or charged that address the question of information availability with a swipe-and-tap convenience.
Can refinancing save me money? How much would I pay monthly on this interest rate? How much money can I afford to pay with my income?
Information that include estimations are solved by calculators you can find at any real estate or mortgage lending website. These calculators often come with features that answer questions regarding the fields asked.
These helpful tools allow borrowers to get rough approximations of cost that will prove helpful in their mortgage decisions.
Rate Comparison Tools
From personal loans to mortgage interest rates, rate comparison tools are highly valuable in helping borrowers find the lenders that cater to their budget and needs. These sites typically feature interest rates, loan terms, and loan options with corresponding descriptions for each – all gathered into one user-friendly platform for the purpose of ease.
These sites put borrowers in touch with lenders who will then provide them with quotes. Always inquire from multiple lenders. One important thing to note, however, is that no quote is accurate unless you forward formal application.
Real estate has never been this easy. Use it to your advantage. Explore the web for emerging new tech that can help further your home buying, lending, or selling journey.