App sends pre-approval letter in just three minutes
Fintech company Neat Capital has launched a digital application that gives mortgage borrowers the head start in a competitive market. The application delivers a pre-approval letter straight to a borrower’s phone in three minutes, according to the company. Using only a soft credit pull, the app is specifically designed for buyers making numerous offers in competitive markets.
“Often, filling out a pre-approval application and having to wait for a person to contact the applicant over a weekend, when most buyers are visiting homes, causes a delay that could lose them valuable time in submitting a winning bid,” Neat Capital wrote in a press release. “This technology allows buyers to gain a competitive edge by being the first to make an offer.”
Neat Capital said the new app was integrated with its one session lending platform, which enables clients to provide a fully underwritten cash-like offer.
"This innovative application will be a major benefit to home buyers who need to act fast – or risk losing their dream home," said loan officer Justin Carmichael. "This solution allows me to provide 24-7 service to my clients, even when I'm not available. This will make a huge difference where timing is critical."
