When it comes to buying a home, it’s rare for any two people to have the same background and set of circumstances that factor into the often-stressful process of securing a mortgage.
Everyone’s unique situation presents its own challenges, whether you’re a graduate student looking to purchase an affordable new home, a first-time homebuyer who is completely unfamiliar with the process, or a family seeking a competitive mortgage rate after a mother is recently returning to work after maternity leave.
These are just a few of the scenarios that the Own Up team has helped our customers tackle over the past few months. And last week, we invited some of those homebuyers for an evening get together near our offices in Boston to say thank you, and to help our leadership team answer two important questions:
What are the biggest challenges homebuyers face when securing a loan, and how can Own Up better serve homebuyers with all different backgrounds as they make their way through the process?
The feedback was both humbling and deeply insightful. But every story we heard confirmed what we thought to be true when we first dreamed of Own Up more than two years ago.
The home buying process does not favor the borrower. But the work we are doing can help change that balance of power.
That’s a pretty common sentiment that we hear from those who come to us to help them find a loan after being frustrated with prior experiences. Those same people tell us is that the “best deal” is often so much more than just getting the best rate. It means finding a “trusted partner and advocate” in the home buying process that is willing to “give it to you straight” and look out for the needs of the buyer more than the banks and the bottom line.
Beyond securing the best possible interest rate, our customers told us that three things made a huge difference to them throughout their experience with us.
- First, it was about transparency. Working with someone who was willing to patiently walk you through the important nuances of financing your home and be upfront about Own Up’s stake in the game.
- Second, it was about responsiveness. Being able to rely on an expert home advisor that was always available and helpful throughout the entire process--and not just on questions related to mortgage rates. As one customer put it last week, it was about “having someone who provided us help during the darkest time of the home buying process and long after.”
- And third, it was about respect. Trusting that your less-than-perfect credit or a recent job transition wouldn’t be used as reasons to hike your rates, but rather as pieces of a puzzle that could be used to find you the best deal whether it was secured through Own Up or not.
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Whether you’re a finance-savvy couple that needs help getting a last-minute pre-approval letter when the dream home suddenly comes along, a homebuyer that’s being told that a VA loan isn’t going to get you a competitive rate, or a newly-engaged couple that’s trying to coordinate closing on a home from two different coasts and time zones, our ability to meet our customers' needs while still getting them the lowest rates confirmed for us that our commitment to aligning our goals with those of the consumer is working.
We left the dinner more inspired than ever to continue pursuing our mission to help people navigate a world where buyers needs aren’t being put first, and we look forward to engaging more people in that conversation.
Have some advice for us? Want to talk to us about your experience? Let us know – we’d love to do dinner!