Does a mortgage easy button really exist? Can the average consumer simply press a button and gain loan approval? We have all seen lender TV Ads touting the ease with which a consumer can secure a mortgage loan. Just push a button right? Yes. There are buttons to push. But there are many, many buttons. In fact, there are so many buttons, the loan process requires attorneys and title agents, underwriters, processors, closers, insurance providers, appraisers… the crew of essential parties goes on.
No one wants to know every layer of the loan approval process. Of course not! But let’s not minimize the magnitude and importance of what happens when someone seeks approval for home financing. The job of a mortgage lender is one that should be seamless to the client. But how often do you hear reviews of these advertisers delivering a stress-free, easy button loan process?
The juxtaposition of advertising and prevailing consumer sentiment regarding the mortgage experience does not add up. Most often prospective borrowers expect the mortgage process to be uncertain, complicated and stressful. So how on earth would the idea of pushing a simple button be believable?
As a loan advisor, I want to create the experience for my customers I would expect for myself. My job is defined by wearing many hats. The main role is an advocate for my clients. Financing a home is never an exciting endeavor. However, it must be a focal point amidst an already hectic daily to do list. The loan pursuit can easily become a burden or distraction while juggling work demands and family commitments. The key to creating the “easy button” experience is guidance and communication. I involve my clients only in tasks absolutely necessary to achieve loan approval. Balance in communication and information is crucial. Everyone wants assurance. Keeping clients informed of relevant milestones all the while managing expectations creates that balance. Pushing a button to enter into loan cyberspace has no basis nor is the idea reassuring.
So is there a mortgage easy button? Conceptually the answer is yes. There is no singular button to push. The choice of a trusted loan advisor is the “easy button”. Choose the right lender who can push the buttons for you; someone who is committed to creating the optimal experience. My tagline will never be “Your Mortgage Easy Button”. However, I will be the change I want to make in the home financing arena. Be smart, be educated, and realize there is value in selecting a lender who truly cares about YOU. Maybe my tagline will be “Choose integrity, experience and accountability. Choose me!”. What do you think?