Simplist is a marketplace for mortgage purchase and refinancing loans, as well as for people who are looking to get a home equity loan. It deals with a huge range of lenders, so there will usually be a great level of choice available no matter your preferences. It has been in the business since 2018 and has helped a huge amount of people since then.
Simplist Mortgages Terms & Requirements
As Simplist is a marketplace, the exact terms and requirements of the loans will vary depending on the specific lender you are considering. However, certain aspects remain consistent throughout, and some minimum standards are in place.
Generally, you will need to have a credit score of at least 620 to get a loan through Simplist. For fixed-rated rate loans, you will look at term periods of 15, 20, or 30 years. There are no application or processing fees in place, but a fee will be charged if you end up closing on a loan.
Application Steps & Time Frames
When you want to see what loan options are available, just visit the Simplist website. You can go through the pre-qualification process in just a few minutes.
All you need to do is provide some basic information, such as the type of loan you are looking for, the amount you want to borrow, and where you live. When you complete this simple process, the range of different loan options will then be presented to you clearly. There is no hard credit check needed at this stage.
If you find a loan offer that you like, you can submit an official application with that given lender. As Simplist is a marketplace, many different lenders are available for you to work with. Each one will have its own distinct application process with its own requirements.
The process will usually be standard enough, and a hard credit check will be necessary. Simplist tends to work with lenders that are relatively quick with giving loan approval, usually getting an answer within 48 hours. The goal is to have a time to funding period between 10 and 14 days after submitting the application.
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