‎How FinTech Makes Mortgage Buying More Accessible

 

Buying a house: It’s something most people expect to do at some point in their lives and is seen as one of the steps into full adulthood. However, as the 2008 financial crisis shows, the big banks are not necessarily the ones we should be trusting with our mortgage needs. In fact, thanks to the crisis and the subsequent fallout, fewer than one in three consumers trust the big banks, which means there is a large desire to not support them.

Where do today’s consumers turn, then, when they want to buy a house but don’t have the money hiding in the couch cushions? The majority of house buyers do not want to give their business to the big banks, so where do they turn? Once again, FinTech is here to meet your financial needs and FinTech startups are ready to serve as your new mortgage advisor. Yes, there is no need to give your services to a monolith that has yet to fully embrace technology.

Raisal is a fantastic example of how the FinTech movement is improving the financial experience for the 99%. The Raisal system was designed to modernize the mortgage process, giving people the ability to compare numerous lenders in their area and providing the service and consultation needed to make the house-buying process simple and stress-free. More importantly, it uses unique algorithms to connect borrowers and lenders, speeding up the process for everyone involved.

Another startup seeking to improve the process for today’s mortgage seekers is Morty, which proudly proclaims that it is “the easiest way to get a mortgage in 2016.” One of the founders, Brian Faux, knows the industry well, working as a real estate/mortgage executive before starting the company.

Morty is a fully digital company that aims to simplify the process by using their own database and algorithm to find the right lenders, educate people on their various loan options and let them easily compare their choices in order to come to the perfect end point.

Obviously, FinTech mortgage brokers are a major step up from the process(es) offered by the big banks, giving consumers easy access to the information needed to feel comfortable with their choices. Thanks to FinTech, consumers can easily find a lender and rest assured that they are getting the best deal for what they need. When these new home owners put their house keys in the lock for the first time and cross the threshold, they will be happy and stress-free, knowing they received the best mortgage advice.