Buying a new home, refinancing your current home, or applying for a home equity loan or line of credit is an exciting time in anyone’s life. Whether you’re renovating your home or are starting to set roots with a new home, the process is a big deal. If you’re anything like me, you want that process to be as organized and smooth going as possible.
Problems With The Mortgage Lending Process
A major turn off to a life event like this, is when a financial institution has a long and often tedious application form that a person has to fill out to make sure they are approved to take the next step.
If the application is confusing, too long, or asking for more information than the applicant currently feels like offering, they will abandon the form and look for an easier solution.
I know when I made the step to purchase my home, filling out the application form online seemed to be easy enough. That is, until the next day when I received a call from the financial institution telling me that I had incorrectly filled it out, as well as missed a step or 2, in addition to needing to bring in paperwork to continue the process.
If your forms are not organized well, you may be losing potential clients wanting to apply for home loans.
Luckily, we have an awesome solution for you: Lenderful Solutions! Our partner has created a digital mortgage software program that engages potential borrowers early in the process and helps them along through the steps to a successfully completed application.
Whether it’s a home equity loan, a line of credit, or mortgage, Lenderful Solutions provides a platform that is easily self-guided, using real time rates and loan programs to help borrowers decide how much they qualify for.
If your loan prospect needs to complete the application at a later time, they will immediately receive an email inviting them to come back to finish it. As long as they use the link in that email, the information they already provided is saved indefinitely. When they complete the form the loan officer receives the data right away via email.
Another great feature is a pre-qualification tool that is designed to capture more business for you! This prequal express allows the potential borrower to qualify themselves by using underwriting guidelines and a soft credit pull to create a formal pre-qualification letter.
Some benefits to using this unique platform are:
- Optimized for mobile and desktop usage
- Configurable underwriting
- Users can shop for real-time rates and programs
- Optional credit pull for user
- Personalization of loan officer landing pages
Utilizing Lenderful Solutions’ platform by white labeling it with your branding will help your users through an easy and modern digital mortgage experience.
If you are interested in learning more, please contact your LKCS sales representative to set up a call and demonstration.
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