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Old 10-08-2007, 10:02 AM
 
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Do you think there are any advantages to applying for a mortgage online, over the phone or in person? What are the pros and cons of each?
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Old 10-08-2007, 10:12 AM
 
Location: Charlotte, North Carolina
5,137 posts, read 16,562,729 times
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depends on your level of trust.
Some folks are afraid to apply over the phone or online.

While others say it's better to apply in person as you can always 'yell' at someone in person instead of over the phone.

There are myths that applying in person may speed up the process...this isn't true as most banks/lenders have their underwriting team in another state. Most of them have a separate processing center that may not be in the same state as the Underwriters. I used to work for BofA, and I had to pick up the phone to speak to my processors/underwriters. As a customer I would prefer to do that at my home.

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Originally Posted by ogplife View Post
Do you think there are any advantages to applying for a mortgage online, over the phone or in person? What are the pros and cons of each?
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Old 10-21-2007, 06:47 AM
 
Location: Culloden WV
78 posts, read 423,858 times
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Exclamation Pros and cons

Well, in person, you can place a face with a name. Establish a personal relationship, ect.

Over the phone- seems slowest and most cumbersome to me, just my opinion.

Online- a good hybrid of both. It is faster in my opinion because I can get right to work on the preapproval. Maybe call and ask a couple questions on incomplete answers at the most.

Then, I usually call or set up an appointment to discuss options, collect documentation, ect.

A face to face is really not quicker but it really is a personal preference.


You are in the drivers seat, do it the way you see fit.
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Old 10-22-2007, 12:21 PM
 
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Establishing a mortgage is one the most important and biggest investments you will ever make I would only recommend face to face with someone who you want to be an long-term advisor. Anyone can sell you but a professional will want to understand your long-terms goals, etc.
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