Today, many lenders offer to take a step towards the acquisition of real estate – to apply for a mortgage online. Not everyone is able to afford to save up the amount necessary to make a purchase of this magnitude, and the saving process presupposes a long period, during which a lot can change. At the same time, filing an online mortgage application allows you to solve the housing issue here and now, starting from the real state of affairs. Borrowers can visit a bank office or fill out online mortgage application form via the Internet.
Online mortgage application: step-by-step instructions
To apply for a mortgage loan, you must enter the relevant information in the special fields and leave a message on the lender’s website. Do not forget to give your consent to the processing of personal data. Within a short time, the lender will contact you to clarify details on mortgage lending.
It is very easy to apply for a mortgage online. General information and contact details are entered into a special form: last name, first name, mobile phone, the region where the purchase is planned, the type of property, etc.
Consideration of a mortgage loan online application and preliminary approval are carried out by our specialists as quickly as possible after you fill it out.
It is convenient to apply for a mortgage online
The main advantage of filling out the mortgage application olnine is the significant time savings. To inform about your intention to buy any real estate on credit online means avoiding the need to visit a bank office. In addition, you can always get online advice from specialists who will tell you in detail how to submit an application via the Internet.
Before submitting a mortgage application, we recommend that you find out the minimum requirements for a potential borrower (for example, age restrictions). You can get all the necessary information at any time from the lender by phone or online on their official website. You can also calculate a mortgage loan using a special calculator, which will allow you to assess your financial capabilities and choose the most optimal lending program. After that, you can fill out an application form.
What do you need to apply for a mortgage online?
You will need to collect a set of documents for the mortgage application process. This might include:
- passport or driving license;
- P60 form from your employer;
- utility bills;
- your last 3 months’ payslips;
- proof of benefits received;
- bank statements of your current account for the last 3-6 months;
- tax return form SA302 (if you have more than one source of income or are self-employed);
- statement of 2-3 years’ accounts from an accountant (if you are self-employed), etc.
Who can’t get a mortgage online?
Many lenders offer a fully digital application and approval process, but these are generally offered to borrowers with profiles.
You will probably need to visit the lender’s office personally if you are not a traditional candidate.
That might include people who:
- have impressive debts;
- are self-employed;
- don’t have traditional jobs;
- need a jumbo loan;
- have a less than perfect credit score;
- are retired;