You can now apply for home loan prequalification online

You can now apply for home loan prequalification online

The real estate industry has been operating in the shadow of technology, compared to other industries. However, as consumers become more aware of the apps and platforms available to them online, they will become more comfortable with beginning and concluding their real estate purchases online, over time.

“The purchase of a house is a big deal, and highly emotional, especially for first-time buyers. The decision to do so should not be taken lightly, because one is committing themselves to a long-term financial agreement.”

To guard themselves against scams, some consumers choose to do their financial assessments and home loan applications manually and by going into a bank, which prolongs the purchase process.

“We understand the need for consumers to protect their personal information and guard against financial fraud, this is why we’ve incorporated security features like those used by banks, in the development of our online affordability assessment tool.”

With this tool, consumers can quickly and easily establish their affordability and initiate a credit check, so they can begin their property search, knowing how much they could qualify for in a home loan.

Dennis Williams, a Real Estate Specialist with Dennis Williams Realtors, is an Ooba partner and attests to the benefits of using the tool, and their services.

“Because the affordability reports are based on real-time credit bureau data, I’m able to match buyers to properties I know they can afford to buy, and can work more proficiently with sellers as well, in getting their properties sold. If we encounter any problems along the way, I’m able to access a network of experts assisting with debt and affordability improvement through the Ooba offering, which gives my clients extra peace of mind,” says Williams.

“For the longest time the process of vetting a buyer in order to prove affordability has been a challenging process, and while bond origination companies have been highly instrumental in the way that this process is now managed, there are still hefty time delays and a real need for improvement,” says Williams.

“Through Ooba’s persistence, ingenuity and leveraging of technological resource, we as Dennis Williams Realtors believe that the new online bond indicator offered by Ooba has taken giant leaps forward in addressing these issues by way of automation and systems integration.

“It is our view that we are about to witness the next evolution in how our industry does pre-approvals and risk assessment, thus dramatically increasing approval ratings and reducing lead times. Our business understands and supports Ooba’s vision which happens to be in line with our own objectives. That is why Dennis Williams Realtors has partnered with this amazing company and included this service to our bouquet.”