A digital mortgage marketplace is a multi-lender mortgage platform that gives homebuyers and homeowners’ a fast and simple method to identify the lowest interest rates and fee mortgage loans in 3 minutes.
The digital mortgage marketplace matches borrowers to multiple mortgage lenders underwriting guidelines, interest rates, fees, and loan offers all in one online session. These platforms use advanced computations to single out the lowest interest rates and fee loan and offer online mortgage pre approvals.
Homebuyers that have elected to take advantage of this technology are capturing approximately 10% more purchasing power on their home purchase for free compared to an ok rate mortgage loan, according to EquiFund Mortgage, which claims to deliver the lowest rate and fee mortgage pre approval in under 3 minutes.
In the age where rockets can land themselves, its refreshing to see automation being used to help the consumer.
What are the financial benefits of using a digital marketplace?
The dollar amount of financial gains, or savings captured depends on the size of your loan amount request. To help readers understand the wealth capturing benefits, we have calculated an example to demonstrate the monetary gains consumers capture by using a digital mortgage marketplace.
If you take a loan of $ 450,000 for 30 years calculated at 7% and then calculate the same loan amount with a rate of 6% there is a monthly payment savings of $ 296.00 a month. Now, look at what this $ 296.00 a month savings really does.
If you want to buy more home, you can purchase $49,500.00 more house for the same payment as the 7% loan. This means you could purchase $ 499,500 instead of $450,000 for the exact same payment of the ok rate mortgage loan of 7%!
This is a huge savings you capture and your net worth increase by $ 49,500.00.
Please keep in mind that at the time this article is written 30 year fixed interest rates are averaging 7%. The bottom line is using a digital mortgage market place can take the current average interest rate on 30 year loan and subtract 1 % off that rate on average.
How does a digital mortgage marketplace work?
Digital mortgage marketplaces are pure genius and it is about time consumers have access to it. Consumers will spend about 2 minutes answering some very simple questions. When the consumer completes the brief questionnaire, the software will automatically process 1000’s of loan options with multiple mortgage lenders in lightning speed.
In leveraging all the benefits of automation and advanced machine learning, EquiFund’s automation bypass the high-cost commissions most lenders pay to their loan originators.
The cost savings by using mortgage loan origination compared to a traditional loan originator is passed back to the consumer in the form of an even lower interest rate mortgage loan.
In today’s world, where rockets can land themselves, why wouldn’t mortgage loans be as easy? Now consumers have a simple solution to identify and secure the lowest rate and fee mortgage loan and save tens of thousands of dollars?
Does a digital mortgage marketplace originate, close and fund loans?
Yes, the digital mortgage marketplace will be the sole point of contact from application through funding. They are contracted agents for multiple mortgage lenders and agree with each lender to deliver a close and funded mortgage loan within 30 days or less.
It is really no different then calling a travel agent to find the lowest airfare and best flight all in one phone call. When it comes to real estate and mortgages, one of your largest assets and largest debts, shouldn’t we make sure we land the best mortgage lending terms?
Does this digital mortgage marketplace sell my information?
No, the digital mortgage marketplace does not sell or share your information. The system was designed to give consumers the immediate ability to identify best mortgage deal in their market.
It is 100% spam free from phone calls and unsolicited emails. The whole purpose of this system is to serve consumers and give them exactly what they want.
Who offers this digital mortgage marketplace?
EquiFund Mortgage, a Jacksonville Florida based company, are the pioneers of automated mortgage lending with over 22 years of mortgage lending, offers the digital mortgage marketplace at their website. From our research they have processed over 50,000 homeowners applications.
and are experiencing nothing buy favorable reviews from their growing client base.
From reading their reviews it looks like it is well worth the adventure.
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