Top 10 Payment & Billing Solutions for Mortgage Lenders: Streamline Billing and Get Paid Faster with These Tools

Sean Lund-Brown

In the mortgage business, you know all about the importance of getting paid. Unfortunately, your clients may not be as agreeable. Without the right payment and billing solutions, it can be a challenge to get paid properly, let alone timely. Fortunately, you don’t have to deal with the hassles of billing and invoicing on your own—in fact, with the platforms available today, you don’t have to deal with any hassles related to invoicing, billing, or getting paid.

Modern billing and payment platforms like those in the list below include all of the tools and automation that you need to streamline your billing and make sure that you’re getting paid quickly, correctly, and without hassle. You’ll enjoy features like automated payments and invoices, recurring billing, status reports, income and expense tracking, unbilled hours tracking, custom invoice creation, and tons of integrations with the software that you’re already using. 

Of course, how are you to choose the best platforms? To get you started, we’ve narrowed the list to the 10 best solutions below. In our list, you’ll find a selection of tools for billing and payments that offer all the features you need with affordable plans that will fit any budget. (And when you want to streamline even further without breaking the bank, ask how the virtual receptionists at Smith.ai can assist with customer service and billing needs, including 24/7 live chat and more.)

Check out the platforms below to see what they offer and compare them to choose the solution that best suits your needs. Think about what you’re getting for the money, as well as which features will have the biggest impact on your success in streamlined billing and payments. Then, pick a platform and get back your valuable time—and never worry about getting paid again.

1. FreshBooks

FreshBooks is one of the most popular billing and payment platforms available today. This tool delivers everything that busy mortgage lenders need to manage invoicing and getting paid, as well as other areas of accounting. You will find automated payment scheduling, reminders, time tracking tools, and custom invoice creation. There are estimate and retainer options and the platform makes it easy to convert estimates to invoices with just a few clicks. 

FreshBooks is deployed in the cloud, making it scalable and customizable to the needs of any business. It also offers mobile apps for iOS and Android so that you can take care of billing on the go, and the iOS app even offers mileage tracking for more convenience. A fee-based payment process and hundreds of integrations round off this platform that has something for everyone at an impressively affordable price. 

Key highlights include:

  • Free option? No
  • Price: $15 per month to start
  • Integrated mobile apps
  • Data collection
  • Retainer feature
  • Estimate-to-invoice converter
  • Hundreds of integrations
  • Mileage tracking on iOS

2. Intuit QuickBooks

Intuit QuickBooks has been around for decades, but lately, it’s gotten some great upgrades. The modern platform offers iterations for several different industries and specific uses, along with general software that can handle billing and payments for all kinds of brands. The software includes tons of accounting tools for recurring billing, easy invoicing, expense tracking, and more. 

With Intuit QuickBooks, you can enjoy mobile access via iOS and Android, payroll and tax solutions, receipt capture, and other tools. You'll be able to create the best customization for your mortgage lending business. It also integrates with tons of software and tools, so it won’t be a hassle to fit into your tech stack. 

Highlights include:

  • Free option? No, but there is a trial
  • Price: Starts at $15 per month
  • Handle taxes and payroll in minutes
  • Mobile tools available
  • Total customization of invoices 
  • Easy integration with other apps and tools
  • Receipt capture

3. Xero

Xero makes billing and payments easy. This platform is scalable like the others on this list, but it also features a lot more for the money than some. For starters, it makes it easy to connect your bank accounts and get paid in minutes with less shuffling on your end. It also includes a project tracking feature so that you can get paid by the client and in a timely fashion. 

One of the best features of this platform is the interactive quote option, which ensures that clients can see exactly what they’re being billed for and ask questions if they have them. Xero has Android and iOS apps, allows you to track expenses and claim time and has automated reminders and recurring payment features, as well. 

Key features include things like:

  • Free option? No, but a trial is offered
  • Price $11 per month to start
  • Custom invoices
  • Interactive customer quotes
  • Electronic bank account syncing
  • Hundreds of app and software integrations
  • Streamlined billing and invoicing

4. Invoicely

For those who need a cheap option, Invoicely starts with a free forever option that allows you to create invoices at the drop of a hat, automate workflows, organize billing, and more. You can track expenses and payroll, integrate with all the tools you already use, and even create custom labels to easily organize your dashboard the way that it works best for you. 

Invoicely offers iOS and Android apps so that you can send invoices and get paid on the go, as well as automation and AI features that will take the hassles off of your hands for good. 

Consider the best features below:

  • Free option? Yes
  • Price: Plans start at $10 per month
  • Robust reporting tools
  • Invoice customization
  • Workflow automation 
  • Free invoicing platform
  • Automated payments and reminders

5. Wave Accounting

Wave Accounting offers one of the most robust platforms, and although it’s one of the more expensive monthly plan options, the fact that most of the features have a pay-as-you-go option, you’ll love what you get. Plus, there are even some features that are completely free to use and you can manage and track expenses, handle income and billing, and even automate plenty of routine accounting tasks. 

Wave is one of the best choices for payroll, offering easy payroll management, time and expense tracking, and monthly payroll plans that are impressively affordable. Plus, you can incorporate it all with your other billing and invoicing to streamline across the board. 

Enjoy key features like:

  • Free option? Some features are free
  • Price: $20 per month to start
  • Free professional invoices
  • Recurring billing
  • Automated payments
  • Pay-per-use payment processing
  • Total billing and accounting management

6. Zoho Invoice

With Zoho Invoice, it’s easier than ever to handle all of your billing and payments in one place. It even includes a customer-facing portal where you can accept payments, along with multiple currencies and languages to support clients from around the world. There's even an estimate-to-invoice conversion tool that allows you to generate bills in seconds straight from the client estimate. 

Zoho Invoice is full of features and tools, including detailed reports and a customizable dashboard where you can get a real-time look at the status of your billing and payments. There are branding options, automated reminders, recurring payment features, and more. You can also track unbilled hours and expenses so that they’re ready when you’re ready to bill. 

Enjoy highlights like:

  • Free option? Free for single users
  • Price: Starting at $9 per month
  • Automated reminders
  • Recurring payments
  • Customer-facing payment portal
  • Branding and customization
  • Scalable cloud deployment
  • Estimate-to-invoice conversion

7. FreeAgent

FreeAgent is a tool that’s designed to free up more of your time and the way you handle billing and getting paid. Mortgage lenders will appreciate the scalable platform that offers all the tools they need and then some, without the high price tag. The software includes an app for Android and iOS so that you can manage invoices and submit bills on the go, too. 

FreeAgent never has any contracts or setup fees and the pricing is quite impressive. plus, it offers recurring invoicing and automated billing features, along with detailed reports and plenty of user customization features to create your perfect billing tool. There's also an impressively massive database of invoice templates that you can customize, saving time and trouble. 

Plus, there are features like:

  • Free option? No, but there is a trial
  • Price: $12 per month to start
  • No setup fees or contracts
  • Invoice template database
  • Hundreds of integrations
  • Automated billing
  • Recurring invoices and payments

8. Scoro

Scoro offers an all-in-one billing and payment solution that makes invoicing and automating your accounting easier than ever before. This tool makes it easy to send quotes, create invoices, and even generate prepayment requests. Scoro has customization features so that you can store project and client details, brand your invoices, and even create a custom real-time dashboard. 

The Scoro platform helps manage clients and billing in a single place, improving the invoicing process and taking a lot of the tedious tasks off your hands. You can generate all kinds of estimates and prepayment invoices, set up recurring payments, and more. When you want to ensure that you’re getting paid correctly and on time, Scoro has the tools that you need. 

The best features include:

  • Free option? No
  • Price: Starts at $26 per month
  • Automated reminders
  • Real-time dashboard
  • Scalable and customizable platform
  • Total billing and accounting management
  • Custom-branded invoices

9. OneUp

Take your payments and billing to the next level with OneUp, a new solution for business banking that is revolutionizing the way that companies get paid. The tool comes with a business assistant that takes care of quotes, invoices, taxes, cash flow management, and everything in between. You can scan and pay bills with the digitized accounting feature, split payments, and even customize invoices to suit your needs. 

There's also an open API to integrate with all the tools you already use and you’ll find a user-friendly app for iOS and Android that makes it easy to grow your business and get paid on the go. Plus, there are plenty of other tools available to assist with logistics and administrative duties, giving you everything that you need to manage your mortgage business better. 

There are also highlights like:

  • Free option? No
  • Price: Starts at $9 per month
  • Hundreds of integrations
  • Customizable invoices
  • Intuitive dashboard
  • Customer 360 views
  • Digitize documents in seconds

10. Invoice2Go

If you’re a busy mortgage lender on the go, Invoice2Go has everything that you need. This small business solution offers total control of all of your payments and billing with a money-back guarantee, along with no contract or setup fees and a money-back guarantee on all memberships. And even though there’s no free plan, subscriptions start at just $3 per month. 

Invoice2Go makes it easy to generate invoices on the go with mobile apps for iOS and Android, accept payments, and even send invoices via email that include a handy “pay now” button for hassle-free payments from all of your clients, vendors, and business partners. You can track everything in one place with detailed, real-time reporting and use the intuitive dashboard to keep an eye on daily billing needs. 

Plus, you’ll enjoy features like:

  • Free option? No
  • Price: $3 per month to start
  • Lead generation tools
  • Invoice templates
  • Customization features
  • Time and billable hours tracking
  • Detailed reporting
  • Easy only payment acceptance

Streamline logistics, billing, and more with integrations and solutions from Smith.ai

What’s your current billing situation like? How are you getting paid? Are you getting paid? If you’re not, you might want to jump on a solution sooner than later. With these tools, you no longer have to hire a dedicated billing department or invest in heavy software and programs that cost a small fortune. You’ll be able to handle everything in one place with a cloud-based, scalable platform that can grow with your mortgage business over time. 

Whether you’re an independent broker or you work for an agency, getting paid should be your top priority. These tools are all going to make your billing easier, so be sure to take advantage of that. Look at the features included and the different benefits of each app to help you decide what will suit your needs best. 

Do you need something simple for on-the-go access? Perhaps you want a platform with more customization. Whatever it is, it’s out there—find it. 

While you’re at it, find out what the virtual receptionists at Smith.ai can do for your business. From handling overflow calls and outbound calls to fielding billing inquiries and other customer questions, our team is ready to help with whatever you need. Schedule your Live Chat consultation to learn more about our solutions, or drop us a line at (650) 727-6484.

Sean Lund-Brown

Sean Lund-Brown is a current Marketing Assistant for Smith.ai. A graduate from Metropolitan State University of Denver, Sean graduated with a BA in Music and an individualized degree in Teaching Vocal Pedagogy.

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