We partner with Mortgage lenders so they can offer financing for closing costs. This is really just a specialized personal loan but there are currently no lenders offering this or companies advertising loans for closing costs. The mortgage loan officer would originate the mortgage like normal. When they get to the discussion of closing cost which most buyers dont have, now they can bring up the option of financing them. Most people assume you can roll them into the mortgage but you cannot. The lender is able to then look at different term options to find a monthly payment that works for the home buyers and their debt to income ratio. The lender then submits a lead to us with the borrowers information and we originate our loan. This will allow lenders to close more loans. Often times lenders also give people lender credit to get a loan closed if they are short funds so it would also makes loan already closing, close more profitably.

The key is partnering with the mortgage company. Our...
We partner with Mortgage lenders so they can offer financing for closing costs. This is really just a specialized personal loan but there are currently no lenders offering this or companies advertising loans for closing costs. The mortgage loan officer would originate the mortgage like normal. When they get to the discussion of closing cost which most buyers dont have, now they can bring up the option of financing them. Most people assume you can roll them into the mortgage but you cannot. The lender is able to then look at different term options to find a monthly payment that works for the home buyers and their debt to income ratio. The lender then submits a lead to us with the borrowers information and we originate our loan. This will allow lenders to close more loans. Often times lenders also give people lender credit to get a loan closed if they are short funds so it would also makes loan already closing, close more profitably.

The key is partnering with the mortgage company. Our system is set up so the mortgage loan officer can pre flight the loan before even bringing it up to their customer. They will know exactly what the payment will be for their client before they even apply, this is important because you dont want the payment to mess up the mortgage debt to income.

This is also a huge benefit to us because it leads to a customer acquisition cost of almost nothing, all our customers are funneled to us by our mortgage partners which saves on a lenders largest expense. Additionally 99.9% of customers that apply with us are approved because they have already been vetted by the mortgage company first so we dont have to spend resources on denying people and looking for the qualified clients.

By piggy backing on the mortgage approval we will not be lending to sub prime borrowers and additionally all of our clients will have gone through mortgage underwriting which leads to a default rate lower than the industry standard.
More information

Investors

Falls Fintech
Admin
Falls Fintech Real Substance. Real Connections. Real Opportunity.

Employees

josh kaplan
Admin
josh kaplan CEO I am very hardworking problem solver, I am the first one to work and the last one to leave. Tons of experience in the mortgage industry.