VLoan offers mortgages on your smartphone

Source: vLoan

vLoan, a Cleveland based mortgage company backed by 40 years of experience from Union Home Mortgage Corp, is launching today.

Homeowners refinancing and buyers purchasing new homes can now obtain a rate quote, pre-qualification and home loan via their smartphone, tablet, laptop or desktop -- essentially anywhere you can get on the Internet.

vLoan's mission is to merge the best technology in the business with an ultra-efficient mortgage process to provide consumers with the an online platform that matches them to their perfect loan. Think of vLoan as the eHarmony of the mortgage business.

"The way online mortgages are currently done leaves borrowers with a false sense of hope. It's not a very intuitive online user experience," said Senior Vice President Tony Pietrocola. "You go through the whole process expecting to get a quote and instead you see a screen that says call us. You won't get that at vLoan. We will match you to your perfect loan while you control the process from any device."

Filling the void of online financial services and education is vLoan's quest. They have created digestible information for first time buyers to seasoned homeowners via videos, calculators, and giving borrowers the ability to receive a custom rate quote whenever they want -- and actually seeing numbers when clicking submit, not "call us".

With Millennials making up the majority of the home buying marketplace, lenders need to change their way of connecting with buyers. That's why vLoan evolved their mortgage process to be online and mobile. According to the National Association of Realtors, 92% of buyers used the internet in some way during the home buying process and another 50% reported using mobile or an app.

"Those statistics are the reason we created vLoan," said CEO Bill Cosgrove. "We aim to make this sometimes daunting process easier for our customers and if online and mobile applications make it easier for them, that's what we'll give them."

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