As a mortgage lender, you know firsthand how overwhelming and confusing the mortgage process can be for clients. According to a survey by NerdWallet, 68% of mortgage shoppers think the mortgage process is ‘complicated’.
One of the biggest reasons why clients find the mortgage process overwhelming is the sheer amount of paperwork involved. A survey by Bankrate found that 34% of Americans feel intimidated by the amount of paperwork required to get a mortgage. As a lender, it’s your job to help your clients understand what each document means and why it’s necessary.
Offering to receive documents online can greatly reduce the overwhelm of paperwork. CANDID’s Client Portal will give your clients 24hr access to a dynamically branded, personalized portal where clients can easily upload documents, access contact information and complete custom tasks.
Another reason why clients find the mortgage process overwhelming is the amount of information available. A study by Ellie Mae found that 35% of homebuyers feel overwhelmed by the amount of information available about mortgages. Take time for some clients to explain their options, without too much technical jargon or overcomplication or read the Dos and Don’ts of Mortgage Communications. CANDID’s finely tuned email drip campaigns help to educate clients at a steady, digestible pace. Plus, with CANDID’s Mass Email and SMS tools, lenders can customize their own email communications to the perfect cadence of information. Emails explaining loan types, how credit scores work or market updates can help empower clients to feel confident when they come to make decisions about home financing. The more clarity and value you provide clients, the more likely they’ll refer you to their friends.
Remember that your clients are looking to you for guidance and support. By taking the time to explain the mortgage process and options available, alongside advanced technology to bring your business into the modern age, you can help your clients navigate the overwhelming world of mortgages with ease. And when they finally get the keys to their new home, they’ll be extremely grateful for the support and guidance you provided along the way.