Real estate in a digital world
Though many of us would rather forget, the COVID-19 pandemic forced most of us to do everything from home — working from home, learning from makeshift school desks, socializing over the computer, working out in our living rooms… even buying and financing a home.
During those dark days, the real estate and mortgage industries quickly took advantage of existing technology and create new innovations to make it possible to safely and securely buy while maintaining social distance.
During those dark days, the real estate and mortgage industries quickly adapted existing technology to enable safe and secure homebuying and or refinancing while maintaining social distance. Fortunately, many of these practices were already in place, created for convenience and efficiency. Since then, we've continued to push our technology to make homebuying easier, faster, more secure and socially distant.
All of these of innovations mean that you can have the most seamless homebuying process, similar to buying almost anything else online. Here’s how you can do it.
View by way of virtual tour
Virtual showings have become extremely popular—providing video footage from inside a home and walking buyers through a virtual tour. This isn’t a video of still shots of a home that you may be used to seeing. The agent can actually walk you through the home while holding a camera or phone and provide real-time interaction. By implementing live video-chat home touring systems, you can virtually “walk” from room to room—testing out utilities and even pointing out flaws—to ensure you can see every inch and crevice of your potential home.
New technology also allows for 3D virtual tours, so you can go back on your own and zoom in on certain areas. And if you have a headset, VR technology has the capability to make you feel like you’re really moving inside a home, walking up the stairs, opening closet doors or stepping out into the backyard.
3D tours are proving to be extremely popular. A Zillow report has found that listings featuring a 3D tour were up about 200% and are 75% more likely to be “favorited” on the online platform than listings without the virtual tour.
The digital mortgage experience
Through our Digital Mortgage, you can check real-time rates, pull credit and receive a pre-approval in 15 minutes or less. Never underestimate the power of a pre-approval! As rates drop and competition heats up, a pre-approval makes you a more competitive buyer and also shows agents you’re serious about buying a home.
When it’s time to verify your information, this can all be done digitally. Through our secure document imaging system, you can upload all your documents and financial statements and ensure they’re collected in one safe, easy-to-access place. Our automation tools then allow for digital verification of data with automated bank statement, income and tax return gathering. No collecting pay stubs or digging up old files.
A contact-free close
Our FlashCloseSM platform enables both full e-closings and hybrid options. Originally developed to expedite the closing process, it’s now become an industry standard.
The FlashCloseSM hybrid option allows borrowers to review and e-sign the majority of documents ahead of time and then complete the notarization process in person. This can allow the closing to go much smoother — and faster.
Where applicable, our FlashCloseSM eClose allows borrowers to complete the entire closing process from the comfort of their own home. With use of a webcam, documents are e-signed and a licensed remote notary is able to complete the notarization.
The industry has finally turned a corner in the use and understanding of digital technology at the closing table. Title, notaries and lenders now are more open to the change and see the benefit it brings to their business in terms of productivity and operational efficiency.
A new virtual reality
The mortgage and real estate industries as a whole continue to adapt in an effort to help you make your dream of homeownership a smooth experience. With the use of innovative technology, buying a new home from the comfort of your current home is now not only a possibility, but a better way to do it.
Your journey home begins here.
OriginPoint's Same-Day Mortgage (aka “FastTrack”) promotion offers qualified customers who provide certain required financial information/documentation to OriginPoint within 8 hours of locking a rate on a mortgage loan the opportunity to receive a loan approval within 1 business day of timely submission of documentation and does not suggest that the borrower will receive funding on the same day as their application submission. For purposes of this offer, documents provided after 1 pm local time or on a weekend or company holiday will be deemed submitted the next business day. OriginPoint cannot guarantee that a loan will be approved or that a closing will occur within a specific timeframe. OriginPoint reserves the right to revoke this approval at any time if there is a change in your financial condition or credit history which would impair your ability to repay this obligation. Read and understand your Loan Commitment before waiving any mortgage contingencies. Borrower documentation and Intent to Proceed must be signed within 8 business hours of receipt. Not eligible for all loan types or residence types. Minimum down payment requirements apply. Self-employed borrowers and Co-borrowers are not eligible. Not all borrowers will be approved. Borrower's interest rate will depend upon the specific characteristics of borrower's loan transaction, credit profile and other criteria. Eligible borrowers who successfully provide all required documentation within 8 business hours will receive a $250 Closing Cost Credit applied at closing, no cash value, and may not be combined with any other Lender promotions, discounts, or concessions. Not available in all states. Restrictions apply. Visit OriginPoint.com/same-day-mortgage for terms and conditions.
**Eligible borrowers must qualify for a "Clear to Close Loan Commitment" ("CTC”). OriginPoint cannot guarantee that a loan will be approved or that a closing will occur within a specific timeframe. CTC is subject to certain underwriting conditions, including clear title and no loss of appraisal waiver, amongst others. Not eligible for all loan types or residence types. Minimum down payment requirements apply. Property must be eligible for an Appraisal Waiver and borrower must opt in to AccountChek for automated income and asset verification. Self-employed borrowers and Co-borrowers are not eligible. Not all borrowers will be approved. Restrictions apply.
Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply, contact OriginPoint for current rates and for more information. All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. OriginPoint LLC fka Guaranteed Rate Affinity, LLC does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error free. Some information in the publication may have been provided by third parties and has not necessarily been verified by OriginPoint LLC fka Guaranteed Rate Affinity, LLC. OriginPoint LLC fka Guaranteed Rate Affinity, LLC its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action. OriginPoint does not provide tax advice. Please contact your tax adviser for any tax related questions.
