How does Rate's Digital Mortgage experience speed up the process?

With artificial intelligence and other current tech tools to assist during the underwriting process, Rate’s Digital Mortgage allows borrowers to get approved quicker. It’s an upgrade that allows potential homebuyers to compete in real time with all-cash buyers.

Fully integrated in Rate’s Digital Mortgage, the technology significantly reduces the time it takes between completing your home loan application and being approved, all while customizing the application for your exact needs and situation.

Find out how fast and easy your home loan application can be with Rate’s Digital Mortgage.

Rate’s Digital Mortgage does not replace the human side of getting a home loan but combines it with the ease and speed that AI can offer.

Digital Mortgages with Rate are optimized with the latest technology and AI tools to offer you a quick and stress-free experience.

As you start filling out your Digital Mortgage, the technology analyzes your responses to only ask you questions relevant to your needs and wants. And to avoid any repetition, our Digital Mortgage works with you to fill out any questions similar to ones you have previously answered.

The information and documents you provide for your Digital Mortgage are reviewed in real-time to speed up your approval.

While you are filling out your Digital Mortgage or after you have completed it, you will be assigned a professional Loan Officer to assist you and answer any questions you may have.

Borrowers will notice a difference with Rate’s Digital Mortgage experience that helps with their mortgage process. Here are just some of the benefits and features borrowers can experience.

• Questions tailored to you: As you work through your digital mortgage, questions are adjusted to you and your exact situation. This helps focus on a buyer’s needs instead of spending time filling out responses and questions that don’t apply to you.
• Application pre-fill: To reduce the time spent on applications, Rate’s Digital Mortgage uses pre-fill. Pre-fill helps predict responses based on previous answers, speeding up the application process while helping to eliminate any repetitiveness buyers could feel while filling out other applications.
• Real-time review: When you upload documents, Rate’s SmartUnderwrite** reviews them to verify employment and income as they are uploaded. This gives you real-time underwriting so you know where you stand from the start, helps avoid surprises and inspires the confidence to make the right decisions.
• Soft credit check: Soft credit checks* show lenders an overview of your credit history without negatively affecting your credit score.
• PowerBid Approval: Fully underwritten credit approval in as little time as 24 hours with PowerBid Approval, allowing you to make serious offers and be competitive with all-cash buyers.
  

Tailored questions, less repetition, fewer unnecessary or generic inquiries and real-time reviews are all some of the reasons that homebuyers are choosing Rate’s Digital Mortgage.

Using Rate’s Digital Mortgage for your home loan is a simple, quick and stress-free experience that embraces helpful technology while keeping the personal experience of a trusted Loan Officer.

Start your Digital Mortgage with Rate today and see why homebuyers are choosing this enhanced and streamlined experience.

*The soft credit pull pre-approval option is available on conventional, government, and jumbo loans for purchase or refinance. This pre approval is an early assessment of borrowers’ qualifying information. A hard credit pull is required prior to a loan being submitted to underwriting and will impact borrower's credit score. Borrowers already under contract will default to a hard credit pull when they apply for loan approval. Applicants are subject to credit and underwriting approval. Not all borrowers will be approved. Restrictions apply.

** Smart Underwrite utilizes Intelligence Automation (IA), an automated process identifying and validating discrepancies with credit, income, or assets in review of borrower submitted loan documentation prior to an Underwriter making a final approval decision. This automated review should not suggest to a borrower that rate has fully funded or approved the borrowers mortgage application. Rate reserves the right to revoke a loan approval at any time if there is a change in borrower financial condition or credit history which would impair ability to repay. Eligible borrowers include W2 employees purchasing an existing home with a conventional conforming mortgage. Not all applicants will be approved. Restrictions apply.