by Bruce Walker

The days of a person sitting behind a counter inside of a financial institution are gone. The days of long line-ups in order to handle your financial matters have left. The days of just speaking with another human being at a bank have also vanished. Most of your basic banking duties can be done at an automatic banking machine, on the phone or online.

Data from FactBrowser.com shows that nearly three quarters (73.5 percent) of consumers in the United States use online bill payments, 88 percent of Internet users in Sweden utilize online banking and 550 million people are projected to use mobile banking within the next three years.

Of course, it would be be sufficient to say that transferring money from one account to another, paying a phone bill or purchasing an item can be done without a person to deal with. However, as time goes on, getting a loan for an apartment will be just as easy as buying something on Amazon.

Apartment Bank, a division of the Bank of Internet (BofI) Federal Bank, is an institution that offers traditional banking and loan services completely through the Internet without all of the exorbitant fees. Customers can speak with someone regarding any of its business and income loans over the web, email or on the telephone.

The entity attempts to simplify the process of obtaining a loan for a property under $5 million. Through a fixed-loan process that can be performed online, potential borrowers can reduce paperwork, save time and lower the costs.

Its Apartment Loan Program can close the loans quickly and consists of many benefits, including apartment buildings with five or more units, loan amounts ranging from $250,000 to $10 million, secondary financing, different prepayment options and flexible loan terms. There are other loan details that are simple to understand.

Clients have to go through a simple six-step procedure: contact, speak to an expert, get the whole issue started, conclusion, loan funding and future contact to provide customers with rewards and “cool perks.” There are four criteria to meet in order to be eligible for a loan, though: credit score, appraisal, down payment and building type.

There are seven professional and experienced loan officers located in California (six) and Illinois (one): David Boyles, Rick Carpenter, Fred Cebalo, Carlos Cesena, Keith Nisenson, Fred P. Ornelas and Mike Posner. These experts will help you attain exactly what you wanted: apartment and commercial mortgages.

According to the Pew Research Center, there are 63 million Americans using online banking, 81 percent managing their household finances online and 78 percent satisfied with Internet banking. The FDIC-insured and publicly traded firm can certainly capture and may perhaps even innovate this growing market of Internet and mobile banking.

One way to describe Apartment Bank: a borrowing institution that has moved into your home, computer and smartphone.