Close Your Own Loan.com reports online home loan applications up 451% in June.

The online home loan phenomenon continued to gain strength in June as Close Your Own Loan.com reported record growth of online home loan applications. The increase in applications was evenly spread between both refinance and purchase loans.

"It really was quite a pleasant surprise to see so many borrowers choosing to complete their online applications and lock their interest rates despite the slight increase in 30 year fixed rates in June," said Dan Mason President and CEO of Close Your Own Loan.com. "We believe this increase in applications is a result of borrower’s obvious desire to eliminate the Loan Officer and the high pressure sales tactics that come with them."

At www.CloseYourOwnLoan.com a borrower can research different loan programs, learn how to qualify for a new home loan, educate themselves about the home loan process and view and lock in their interest rate all in a salesperson free environment. "It is this pressure free, education based environment that we think borrowers find so attractive," claims Mason.

When it comes to your most valuable asset, which for most people is their home, the majority of homeowners have stated they do not want to be talked into an exotic loan or sold higher rates or fees so someone can earn a higher commission. They generally prefer to make an educated decision about loan programs, interest rates, points, fees and every other aspect of a home loan on their terms, not someone else’s. Mason says, "This is why we’ve eliminated the Loan Officer. You keep his commission!"

In challenging economic times, borrowers tend to be more willing to spend time shopping for the best rate and fees they can find. In today’s online world, the easiest medium to do so is the internet. This is yet another reason why traffic to online lenders like www.CloseYourOwnLoan.com continues to see growth despite the slumping housing market.

Close Your Own Loan.com has a truly unique approach to the home loan process. They have placed every tool, resource and piece of mortgage related information they have at a borrower’s disposal via their easy to use website. This simple, online, education based process has created an implicit trust that seems to inspire confidence in the company behind it.

"Referrals are our fastest growing source of new home loan applications," says Mason. "We believe that as we continue to turn June’s record number of loan applications into funded loans, our customers will promote our online home loan process better than any commission salesperson ever could."

Close Your Own Loan.com is licensed by the Department of Real Estate #01806220 and the Department of Financial Institutions #510-MB-45825.  Close Your Own Loan.com is a proud AAA rated member of the Better Business Bureau and an Equal Housing Lender.