What is Vellum Advantage?
For the borrower….
Vellum Advantage is a streamlined digital mortgage experience. Through our application portal, borrowers are able to authenticate their assets in a safe and secure manner. From this authentication, Vellum Advantage is able to calculate a monthly income figure. In addition, Fannie Mae and Freddie Mac accepts this figure. It eliminates the need for income documents. For instance, pay stubs, W-2 forms and tax returns. No documentation requirements can allow for a same day underwriting approval as a result.
Vellum Advantage provides the advantage needed in todays’ competitive real estate market. Fast approval can eliminate the need for a financing contingency when writing a contract. This is especially important in todays’ competitive home purchase environment. Moreover, less contingencies make for a stronger contract to the seller.
Looking to refinance? Vellum Advantage has allowed many to close in just two weeks. In addition, many borrowers also receive an appraisal waiver. As a result, the process is even faster. While most companies are taking up to 120 days to close a refinance transaction, we can often make it happen in less than two weeks!
For the realtor….
Vellum Advantage takes the uncertainty out of home buying. Your clients are able to remove financing contingencies. This makes their offer stronger than the next as a result. The digital loan process removes the need for loan approval status calls as well as any uncertainty of closing within a quick timeframe. All we need is an appraisal, if required, homeowners insurance, and information from the settlement company, that’s it! Strengthen your clients contract with Vellum Advantage.
For the Loan Officer….
Vellum Advantage is the perfect tool to increase your business. For purchases, your realtors and clients will rave at how smooth the lending process is at Vellum. Vellum Advantage is the next step in mortgage lending. Above all, your competitors don’t have the capability to provide this advantage. Each transaction becomes a referral partner, as realtors and borrowers share their streamlined experience with other realtors, as well as friends and family.
For refinances, Vellum Advantage allows more transactions to close. No documentation requests, combined with an appraisal waiver, allows for a two week closing window. Imagine your client shares their refinance experience with a friend. For instance, they are unable to close for 120 days with another mortgage company due to operational capacity. At Vellum, it’s different. Each transaction has a strong likelihood of referring another transaction. In addition, rate renegotiations go away and requests for updates to loan documents do as well.
Let’s Get Started Financing Your Home
You’re so close to being a homeowner or refinancing to meet your financial goals. Let’s do this!
