Mortgage applications: In person or digital?
Our world is becoming more and more digital, from voice-controlled electronics and self-driving cars, to thumbprint recognition and smart home devices. But how does the growing influence of technology impact how people buy homes?
How technology is changing home buying, according to a recent study by the American Bankers Association, is that it varies. More than half of those interested in purchasing a home prefer to apply for their mortgage face-to-face. Only 17 percent said they would apply for a mortgage online. Contrary to the technology trends in other aspects of our lives, individuals and families are sticking to the tried-and-true method of speaking with a mortgage professional in person before signing on the dotted line.
Additional survey results showed that people are not confident about their knowledge of mortgage ins and outs. Review our mortgage calculators and articles to learn more about the home buying process. (Click to Enlarge)
Source: American Bankers Association‡
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