Most Americans agree while they use online resources for research, they prefer to apply for a mortgage in person. Consumers also indicated, though, that mobile or online services are important when it comes to obtaining a mortgage or making mortgage payments. Sixty-one percent of respondents consider mobile and online services very important or somewhat important, while 23% said they were not important.
According to a new survey from the American Bankers Association. Seventeen percent said they would prefer to apply for a mortgage online, while 23% were unsure.
The survey also found that the down payment and costs associated with homeownership are the biggest roadblocks to purchasing a home. Twenty-one percent of respondents said student debt is preventing them from purchasing a home. That number was higher among 18-29 year-olds at 39%.
According to the survey, consumers are least confident in their personal knowledge of the mortgage process. When asked to rate themselves, only 34% considered their knowledge about the process to be above average or excellent.