SAN CLEMENTE, Calif., July 8 CA-CloseYourOwnLoan
SAN CLEMENTE, Calif., July 8 /PRNewswire/ -- The online home loan
phenomenon continued to gain strength in June as Close Your Own Loan.com
reported record growth of online home loan applications. The increase in
applications was evenly spread between both refinance and purchase loans.
"It really was quite a pleasant surprise to see so many borrowers choosing
to complete their online applications and lock their interest rates despite
the slight increase in 30 year fixed rates in June," said Dan Mason, President
and CEO of Close Your Own Loan.com. "We believe this increase in applications
is a result of borrower's obvious desire to eliminate the Loan Officer and the
high pressure sales tactics that come with them."
At www.CloseYourOwnLoan.com a borrower can research different loan
programs, learn how to qualify for a new home loan, educate themselves about
the home loan process and view and lock in their interest rate all in a
salesperson free environment. "It is this pressure free, education based
environment that we think borrowers find so attractive," claims Mason.
When it comes to your most valuable asset, which for most people is their
home, the majority of homeowners have stated they do not want to be talked
into an exotic loan or sold higher rates or fees so someone can earn a higher
commission. They generally prefer to make an educated decision about loan
programs, interest rates, points, fees and every other aspect of a home loan
on their terms, not someone else's. Mason says, "This is why we've eliminated
the Loan Officer. You keep his commission!"
In challenging economic times, borrowers tend to be more willing to spend
time shopping for the best rate and fees they can find. In today's online
world, the easiest medium to do so is the internet. This is yet another
reason why traffic to online lenders like www.CloseYourOwnLoan.com continues
to see growth despite the slumping housing market.
Close Your Own Loan.com has a truly unique approach to the home loan
process. They have placed every tool, resource and piece of mortgage related
information they have at a borrower's disposal via their easy to use website.
This simple, online, education based process has created an implicit trust
that seems to inspire confidence in the company behind it.
"Referrals are our fastest growing source of new home loan applications,"
says Mason. "We believe that as we continue to turn June's record number of
loan applications into funded loans, our customers will promote our online
home loan process better than any commission salesperson ever could."
Close Your Own Loan.com is licensed by the Department of Real Estate
#01806220 and the Department of Financial Institutions #510-MB-45825. Close
Your Own Loan.com is a proud AAA rated member of the Better Business Bureau
and an Equal Housing Lender.
SOURCE Close Your Own Loan.com
