If you’re like me, sometimes you’d rather talk to a robot than a person. For us, a start-up called habito has created the perfect mortgage research tool. They have made the first artificially intelligent Digital Mortgage Adviser.
What is a digital mortgage adviser you ask? Well, let me explain.
The digital mortgage adviser by habito is a web-based application where people can enter basic financial information. Habito uses an algorithm to match the information with real-time market mortgage rates to calculate monthly payments. The algorithm allows the digital mortgage adviser to access hundreds of potential loan options as opposed to a handful at a time from a traditional human mortgage adviser.
Users of habito communicate the the digital mortgage adviser through a chat box that makes people feel like they are texting with an actual person on the other end. Customers simply answer questions by pushing buttons and filling in fields, then various results are displayed based on the information.
The wonderful thing about having an algorithm offer advise is that the information is unbiased. With habito, this mortgage search and comparison service is also free.
At the time of this writing the digital mortgage adviser by habito is only services customers in the UK. For a complete list of lenders habito currently has access to, click here.