What are the top ways to streamline my loan process for my customers?
Complicated loan application and approval processes cause delays for customers wanting to upgrade their homes. Programs can minimize this process barrier by working with their lending partners, contractors, and customers to improve the loan application and approval process (e.g., lower-cost, quicker, simpler, easier). Strategies include reducing the number of requirements that homeowners must meet to secure a loan, pre-qualifying applicants, and shortening the turnaround times between loan application and approval. With improved processes in place, programs can increase their assessment to upgrade conversion rate and lower the cost of customer acquisition by minimizing customer drop-offs as a result of lack of financial resources.
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