How Homestead Funding Makes a Difference During the Mortgage Process

Estimated reading time: 2.5 minutes

What do homebuyers want as they navigate the homebuying process? Mortgage technology and real estate insight companies have been trying to answer this very question.

It’s no surprise that the housing market has changed drastically in a short amount of time, especially after the COVID-19 pandemic. As technology progresses and borrowers’ needs changed, how do you know the mortgage lender you choose has what you want?

What the Data Says

In September 2024, mortgage technology firm Cloudvirga conducted a survey that gathered insights from over 1,000 millennial and Gen-Z respondents. They found that 58% of respondents said they relied on loan officers to guide them through the mortgage process and 60% would switch lenders if AI played a significant role in the process. All in all, those that participated were after three things: ease, efficiency, and a borrower-friendly user interface.

ICE Mortgage Technology conducted a borrower insights survey in December 2023, polling 2,003 individuals at least 18 years of age. Of those surveyed, half owned their current residence and had taken out a mortgage within 5 years. The other 50% were renters and polled on factors that were most important to them during the loan process.

So, with so many different mortgage lenders to choose from, what sets us apart?

Homestead Funding Has What Borrowers Want

Direct Person-to-Person Support

78% of borrowers surveyed by ICE said personalized communication was extremely or very important when working with a mortgage lender. Communication keeps the process moving and can accelerate turn times, all while easing borrower concerns and building stronger relationships.

When you connect with us, we’ll pair you with a Licensed Loan Originator who will be by your side every step of the mortgage process. Our Loan Originators are available beyond typical working hours, so you can connect with them on weekends and nights with any questions. This is just one of the ways we help our borrowers be confident about their home financing success.

Education Along the Way

While some mortgage lenders are only focused on home financing, Homestead Funding is dedicated to top-notch customer service for our borrowers. Your Loan Originator is always available to answer questions or provide you with trusted resources on topics like credit challenges. Additionally, our blog provides up-to-date information about the mortgage process and the housing market.

Loan Program Variety

47% of borrowers surveyed by ICE said that loan program variety was an important factor for them. We know that not every borrower has the same home financing needs. That’s why we offer diverse loan programs, ranging from conventional and government-backed to specialty and renovation. Your Loan Originator will work with you to discover what loan is best for your situation based on your financial health and goals.

In-House Operations and Underwriting

As your loan progresses through processing, underwriting, and closing, you may have additional questions about you’re the logistics of your loan. All our Loan Originators work directly with our in-house operations and underwriting teams, giving you direct access to the people who examine your financial history and loan requirements.

Secure App for Documents, Communication, and Milestones

Of the borrowers surveyed by ICE, 55% of respondents say the application, document uploads, and approvals should all be offered digitally. 60% also said the option of an online application and an online portal for uploading documents influenced their decision while choosing a lender.

Homestead Funding has a dedicated and secure mortgage app called Homestead Moves. Homestead Moves is fully encrypted, meaning it’s safe to share information and upload documents all from your mobile device. Additionally, you can connect with your Loan Originator and real estate agent all in one place while staying up to date with your mortgage milestones.

Here for You, Every Step of the Way

Whether you’re shopping for your first or fourth home, Homestead Funding provides top-notch support and service every step of the way. Ready to make your home financing dreams a reality? Contact us today!