Taking out a mortgage is an enormous financial commitment, as well as a long and complex process. In addition to collecting detailed income statements and other documentation, you’ll have to complete an application, which many people find overwhelming. Many banks offer online options that allow you to submit paperwork from the comfort of your own home, which may have some advantages over applying at the bank. However, some borrowers prefer to sit down with a loan officer in person, an approach which offers some benefits of its own. Here’s what you should know about both methods to decide what’s right for you. 

Traditional vs. Online Mortgage Applications

Applying at the Bank

When you make an appointment with a local bank, you’ll get the advantage of a skilled professional who understands the lending criteria and the documentation you’ll need. Based on their experience, they’ll be able to answer any questions you might have, and describe in detail what statements, tax returns, and other information you’ll need. In fact, meeting with the banker before you’re ready to apply can help streamline the process when you’re ready to go house hunting.

Applying Online

As technology improves, even small local banks offer borrowers the opportunity to apply online with easy-to-use interfaces and secure document storage. Applying online from a  desk top or mobile phone allows you to complete the process at your own pace , uploading documents when you’re ready and coming back to finish other sections later. If you’re comfortable with computers, applying online can be an excellent option, especially if you’re working with a lender who offers high-quality customer support.

Whether you prefer to apply online or want to meet with a loan officer, First State Bank in Russellville, AR, offers the support you need. For more than 80 years, they’ve served residents throughout the River Valley with a wide spectrum of services, including checking and savings accounts, loans, mortgages, safe deposit boxes, and online banking. Visit their website to start your mortgage loan application, or call (479) 498-2467 to make an appointment with a loan officer today at the bank today.