Our Blog

June 30, 2017 | posted by Catalyst Lending
Streamlining and Simplifying the “Major Pain” Mortgage Lending Process

According to a recent Washington Post article, borrowers across the country think the mortgage lending process is a hassle—and we can’t say we’re surprised. The article sites two major industry surveys, both of which found that borrowers find the lending process to be an absolute pain:

  • 42 percent of the 2,241 people surveyed found the lending experience “stressful,” while 32 percent found it “overwhelming,” and a shocking 49 percent said they had regrets about how they handled the process.
  • 41 percent of those polled compared the mortgage lending process to “an annual physical exam,” while 34 percent said it was like “going to the dentist.”

So, what do these dentist-appointment comparisons, high-stress levels and lingering regrets mean? Essentially, they mean the lending process has a long way to go when it comes to making borrowers feel at ease.

We can’t say that we’re surprised by the survey’s findings or the recent Washington Post article, though, as both confirm what we’ve known all along—the lending process is far too complicated and convoluted. We founded Catalyst Lending, though, on the idea that it doesn’t have to be. From internal processes we’ve developed over years of working with homebuyers, to clear expectations we set up front, we’ve built our mortgage lending process around one thing: you.

It’s always been our goal to keep lending as straightforward, simple and stress-free as possible—because buying or refinancing a home should be an exciting time, not one riddled with chaos and confusion. Below, we’ve broken down the steps we take to make the lending process approachable and simple for our clients, as our number-one goal is always to help the people who make up our communities see their dreams through:

Setting Expectations

With different loan types to choose from, uncertainty about how much you can afford, and questions on how long the process takes and what steps are involved, it can often be impossible to know where to start when it comes to lending. Plus, lenders are often so embedded in the mortgage process, they tend to neglect clearly outlining next-steps for a first-time borrower.

We work to avoid this lending pitfall by setting expectations from the get-go with clear-cut, digestible information—because we know that, as you begin the home buying process, the more you know the more smoothly it will go. We’ve developed a research- and experience-based eleven-step Path to Ownership process to help answer your questions and arm you with information from the very beginning. At the very beginning of our lending process, we clearly cover each one of these steps, so that you know what to expect right away and can focus on finding a home that’s right for you, rather than worrying about what comes next.

Our Catalyst Lending Iron-Clad (CLIC) Approval

There’s a bit of a Goldilocks strategy involved in finding the right home and mortgage—you’re not only looking for the home of your dreams, but you’re also looking for a property you can afford and payments you can manage. This can be a tough (and scary) balance to strike—especially when you’re not exactly clear on how interest rates and taxes will factor into your monthly payments and affect your budget. Plus, when the market is saturated with buyers, how do you make your offer stand out and get sellers to take you seriously so you don’t miss out on snagging your dream home?

All of this uncertainty and competition led our team of financial experts to develop the Catalyst Lending Iron Clad (CLIC) Approval. We analyze your financial situation and, if approved, provide you with a CLIC Approval Certificate, which gives you some serious negotiating power when it comes to buying a home.

CLIC Certificates* come with countless benefits that ultimately streamline and simplify the lending process, including:

  • CLIC Approvals are fully underwritten and close-ready, so they naturally make the lending process move faster.
  • CLIC Approvals are guaranteed, so sellers have full confidence in your offer.
  • CLIC Approvals give you the same negotiating strength as if you were buying with cash, which means more negotiating power.
  • We will pay the seller $10,000 if a mistake made by the Catalyst Lending team in issuing the CLIC Approval results in your not being able to purchase the property.

Overall, while our team of experts is deeply embedded in the ins-and-outs of mortgage lending, we know that the vast majority of borrowers simply aren’t—which is why we focus on providing clear-cut information and iron-clad approvals to set expectations from the get-go. Our Path to Ownership process, coupled with our CLIC Approval, make for lending that’s faster, smoother and stress-free—all in the name of setting you up for decades of memory-making in your dream home.

Reach out today to get started on a simpler, stress-free path to homeownership—we can’t wait to be the catalyst in making your dreams come true!

*View CLIC Terms and Conditions here