New home buyers are in constant communication with their lenders throughout the process of a home transaction. The lenders also have to be in close contact with the respective real estate agent and the title company to ensure funds are coordinated and to ensure timing is staying on track. Making multiple phone calls and sending emails throughout the day isn’t very time-efficient, especially when the person on the receiving end isn’t very responsive. A virtual closing assistant is the answer to many problems lenders experience when it comes to working with different parties.
Quick And Accurate Cost Estimates
One of the most common questions lenders get asked about repeatedly revolves around closing costs. Sometimes this information is readily available, but the numbers can change slightly as different factors reduce or increase the cost. With a virtual closing assistant, lenders can provide their customers with a buyer closing cost estimate quickly and accurately at any time. And even better, customers can text the virtual closing assistant directly to receive the estimate so the lender won’t have to gather the information for them.
Gather Information Using Online Forms
Lenders have to collect a lot of information from home buyers to ensure they can fund the loan. This collection of information takes a lot of time and effort on the buyer’s side, and then the lender has to review it all for accuracy. And chances are, more documentation will be required either because the lender forgot to ask for it or because the customer overlooked it. With online forms, customers can fill in the information quickly and directly, so the chances of mistakes are minimal. And there’s less paperwork to sort through at the same time so the whole process will be more efficient.
Get Answers To Questions Seamlessly
Customers rightfully have a lot of questions for lenders. With the right closing software, these questions can sometimes be answered without the need of a human to provide them. Lenders and customers can text the virtual closing assistant 24/7 to get the answers they need. Not having to wait until the next business day means the closing process is constantly moving forward with minimal delays. This is what lenders like to see and it makes everyone’s jobs much easier.
Alanna.ai develops highly flexible software for the title industry. Learn more about this tool today.