Loan Yap

Loan Yap is a digital mortgage platform offered by LoanYap Mortgage LLC. According to the vendor, the platform is designed to simplify the mortgage application and refinancing process for individuals looking to buy a home or refinance their existing mortgage. It is targeted at homebuyers, homeowners looking to refinance, mortgage professionals, real estate agents, and financial advisors. Loan Yap aims to provide customers with competitive rates, privacy, and control over their transactions through the use of technology.

Key Features

According to the vendor, Loan Yap simplifies the mortgage application and refinancing process by leveraging technology and streamlining documentation requirements. Customers can complete the loan application by providing their credit score(s), income, and assets, which the vendor says empowers them with knowledge about their loan application.

The platform eliminates excessive paperwork, reducing the time required for the mortgage process. Loan Yap utilizes 3rd party verification services to ensure the safety of customers' identities, aiming to reduce the risk of identity theft.

Loan Yap offers three fixed loan options: 30-year fixed rate, 20-year fixed rate, and 15-year fixed rate. Customers can choose the loan option that best suits their needs and preferences. The platform provides a side-by-side comparison of the three loan options, allowing customers to make informed decisions.

According to the vendor, customers can obtain mortgage rates by completing as few as three fields on the Loan Yap platform. Income and asset data are available online, enabling faster processing of the loan application. The vendor claims that 3rd party reports are returned instantly, further reducing the time required for documentation.