free mortgage app

One app makes getting prequalified for a home loan really easy

Bethany RamosFinance, First-Time Homebuyer, Home Buying, Technology

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Is there a better way to mortgage? Most borrowers are looking for mortgage options that are fast, mobile, and personal. Luckily, there’s a free app that can do all three.

Mortgage shopping: Where do you begin?

As a leading mortgage lender with more than 29 years of experience, we see a recurring theme in the mortgage industry. Borrowers want to save time, and they want to save money. We designed our LoanFly app just to meet this need.

We also want to make buying a house easy.
free mortgage app
That’s why we built features into our free LoanFly app to answer our borrowers’ most common homebuying questions:

  1. How do you prequalify fast?

A quick mortgage prequalification is one of the most important features of our LoanFly app. Simply input your info through your smartphone and find out how much house you can afford through our super-speedy prequalification process. You can do this anytime, anywhere, to prequalify in as little as 15 minutes.* Once you submit your prequalification, you’ll automatically receive your credit score from your loan officer through the app.

From there, we’ll start working on getting you to closing on time. On-time closing is one of Cornerstone’s core values. We close quickly because we process multiple parts of a home loan at the same time.

  1. How do you search for homes?

Talk about saving time and money. We’ve built a nationwide database of available homes in your area into our mortgage app so you can keep everything in one place. Search, filter, and save your favorites.

Searching for your dream house on LoanFly is something you can do after you get prequalified and before you even select a realtor. With LoanFly’s housing search, you’ll have access to active MLS listings that are always up-to-date in 98 percent of all housing markets.

  1. How do you request a rate?

You’ve started searching and saving, which means you may have a better idea of the home price and ZIP Code you’re looking for. Give us these deets, and we’ll tell you how much your monthly mortgage may cost you with an estimated mortgage rate.

Where requesting a mortgage rate was once a hassle, LoanFly makes it easy. Equally as important, LoanFly is an app built for security. All the personal and financial information you submit through the app during prequalification, when requesting a mortgage rate, and throughout the loan process will be protected at all costs.

  1. How do you calculate your monthly mortgage payment?

LoanFly has monthly mortgage payments covered too. Within the app, you can calculate your potential monthly mortgage premium. (You can also find out more about low and no down payment mortgage programs, like USDA, VA, and FHA loans, here.) You can then use this number to compare the mortgage payment estimates you’ve been given by other lenders.

Trust that all numbers you receive on your mortgage will be accurate and up-to-the-minute. Using LoanFly gives you instant access to real-time loan pricing.

  1. How do you submit your home loan documents?

Just like it sounds, LoanFly’s secure Borrower Portal is all about you. After you’re prequalified, you can upload your documents and keep track of where you stand in the loan process each step of the way. Get loan status updates and 24/7 access to your docs from any Internet-connected device. Within the Borrower Portal, you’ll also find multi-document upload and simplified document due date assignments for your added convenience.

What else can the LoanFly Borrower Portal do for you? You can use the Borrower Portal to view your credit score, as well as view and download your full credit report, after you’re prequalified. To make mortgage easy, we’re here to educate you each step of the way. That’s why you’ll see added information on credit scoring in the Borrower Portal too. There, a helpful credit rating meter will tell you how your credit score matches up and where improvements can be made.

  1. How do you contact your loan officer?

Our app can put you in contact with your home-buying team at the touch of a button. We’re a local lender with family values that always puts our borrowers first. Using LoanFly, you’ll be provided with the personalized attention you deserve. Count on the fact that you’ll be working with the same loan expert, starting from prequalification until closing day. There are no gimmicks, and there’s no sales pitch. Your loan officer is here for you to make mortgage easy. How you work with your loan officer is entirely up to you, whether you choose to meet in person or prefer to stay connected through the LoanFly app.

Really, don’t hesitate to give us a shout. There’s no such thing as a stupid question. Our app’s loaded with videos and FAQs for just this reason. Your loan officer can also walk you through our many different loan products, listed here, to find the right one for you. For more information about reverse mortgages for those 62 and older, click here.

  1. How much will it cost you?

LoanFly is completely free. When you download the app, you’ll be able to access your loan information remotely, on-the-go from anywhere you happen to be.

  • Free mortgage app
  • Completely mobile
  • Anytime, anywhere
  • No pen or paper needed
  • 15-minute prequalification*
  • 24/7 mortgage access
  • Easy-to-read loan status bar
  • Secure document upload
  • Upload on-the-fly
  • Quickly connect with your loan officer
  • Seamless communication
  • On-time loan closing
  • Smooth journey to your new home

How do you get a low mortgage rate?

This is what makes getting a mortgage so much different than it was 10 or even 20 years ago. You can do almost everything online. You don’t have to pound the pavement and go door-to-door to find the most competitive deal from a lender. Though we still urge you to shop around.

Thinking about a mortgage refinance? We can help you find out if the time is right.

Even with the Internet at your fingertips, you may be tempted to stick with the first mortgage lender you come across. The one that offers you a pretty good rate. But failing to compare lenders is going to cost you, almost every time. We recommend comparing loan products and mortgage rates from three lenders at the bare minimum before buying a house.

Comparison-shopping lenders online is convenient, but it can feel tedious when you’re requesting and waiting on mortgage rate quotes. That’s why we designed our free LoanFly app to make finding out how much you prequalify for extra-easy. You can use our free app to request and compare our mortgage rates against other lenders to see which home loan is the right fit.

LoanFly makes getting prequalified easy, but we have other options too. Click here to find out how much house you prequalify for online.

Do you need to shop around?

free mortgage app
The Consumer Financial Protection Bureau (CFPB) conducted their analysis of the National Survey of Mortgage Borrowers in January 2015. Shockingly, the report revealed that most borrowers, estimated at 77 percent, applied only to one lender. Among the borrowers who applied to more than one lender, most did so because they were worried they wouldn’t qualify.

Research from the CFPB also showed that comparison-shopping mortgage lenders could lower your mortgage rate by up to 0.50 percent. This sounds like small potatoes, but let’s put it in perspective. If you take out a 30-year fixed-rate loan for $200,000 with an interest rate of 4 percent instead of 4.5 percent, you save about $60 per month. Within the first five years, you’d pay $3,500 less on your mortgage.

Let’s do this: Learn about the different types of mortgage so you can make a better choice in your home loan.

As the CFPB points out, shopping around for a mortgage sounds optional, but it really isn’t. If every buyer understood the different terms and features, and especially the rates, associated with each mortgage option, it could help to prevent another housing crisis of 2008.

That’s where LoanFly comes in. LoanFly takes something that’s been historically stressful — shopping around and getting prequalified for a mortgage — and makes it easy. Click here to download our free app and take back control of your home loan experience.

*During normal business hours.

For educational purposes only. Please contact your qualified professional for specific guidance.

Sources are deemed reliable but not guaranteed.

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