Robin Holzman

Mortgage Loan Originator

NMLS: 1164906

Touchless Closings: Getting a Mortgage & Buying a Home With Social Distancing

We're several weeks into the shelter-in-place orders, and despite social distancing, homes are still being listed, shown, purchased, and sold. How? By using touchless technology!

Touchless technology, such as digital mortgage applications and virtual tours, had been available before the pandemic. In fact, the mortgage industry was already transitioning to all-digital, and so had our office.

And thanks to creative problem solving and adapting to a touchless transaction, we can continue to serve the buyers and sellers in our community.

These are a few examples of how the mortgage industry are working to bring a touchless, all-digital home buying experience.

Appraisals and inspections may be done virtually through Zoom, or coordinating with one another to avoid contact and following the guidelines of wearing personal protective equipment and social distance. Sometimes, inspections are done as a drive-by.  

When it comes to mortgage applications and closings, the touchless experience is even more impressive.

How a touchless closing works
A touchless, or digital, closing is one where none of the parties are physically together at the same time. The old touchless way meant buyers and sellers pre-signed paperwork, then mailing it overnight or dropping it off curbside. However, with today's technology, all that work is unnecessary. From application, to document submission, to signing and final funding, today's touchless mortgage is 100% digital.

Even processing a loan, from our side, is entirely touch-free!

This is undoubtedly is a drastic shift from how loans were done in the past, where all parties where physically present, physical documents were filled out and submitted, paper shuffling lengthened the time to closing.

Sounds archaic --doesn't it? Even without the health requirements for a contact-less mortgage, you can see how useful a digital mortgage is. It just simplifies it!

The real estate and mortgage industry were already shifting, and the current needs for social distance pushed it up front and center.

Thanks to creative workarounds, real estate agents, sellers, buyers, and mortgage pros like us are managing settlements via alternative means. Not only is it safer during these uncertain times, but it also it's faster and easier.

Of course, touchless does not mean that you're in this alone. We're available more than ever before to help you with your homebuyer's needs.


* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.