We help lender boost home affordability
"Not Just Rates"Reduce student loan payments, lower debt-to-income and boost affordability in 21 days.
Be a hero to your clients Originate more loans Make more money, start risk-free with a trial today!
As seen in HousingWire, Time and others
Who We Serve
Mortgage Brokers and Individual Loan Officers
How LoanSense helps our broker partners prevent loan loss. <<View our partner case study>>
Independent Mortgage Bankers
Turn down analysis of a large IMB showed LoanSense could have saved over $300 million in loan origination volume in 21 days. <<Learn more>>
Depository Instituions
Cross-sell, reach younger audiences and meet Community Reinvestment Act requirements. <<Download our white paper>>
Why LoanSense Makes Sense For Lenders
We help you compete
Help borrowers receive higher contingent pre-approvals for bigger home loans. You’ll be giving not just competitive rates but also great value to clients. Start your free trial.
Lower student loan payments by $654, on average Increase home buying budget by $99,802, on average Improve your clients DTI in 21 daysWe position you
We back you up with our very own marketing materials, resources, and proprietary tools to enhance your marketing credibility and exposure!
Generate 1.5X more leads
We mentor you
We’re a powerhouse of financial experts with established thought leadership, from the basic of student loans to the nitty-gritty of DTI calculations.
We train your loan officers Guide you and answer borrower-specific questions Provide you with the necessary toolsSchedule a Quick Demo To:
Originate More Loans
Win and close more deals and boost your earnings. Earn $1,500 more per loan with little to no extra effort.
Attract the Right Borrowers
To avoid turning down the right clients. Learn who can boost their purchasing power and yield higher ROI in your bank account.
Boost Referral and Engagement
Help borrowers get over the affordability hump. Have them refer you to their friends, family and co-workers and be a repeat customer.
Optimize Loan Processing Time
Discover how to adjust a borrower’s DTI in 3 weeks. Takeover the legwork and make it 30% faster for your clients!
Affordability Calculator
The Affordability Calculator is our proprietary tool that shows how reduced monthly student loan payments expand purchasing power within the 21-day closed loan cycle. Here’s how it works:
Learn How Affordability Calculator Works. Start Your Free Trial Today!
Ready to raise the bar?The Impact We Are Making is Incredible
See what lenders and partners are saying
“I know there are 83,000 borrowers with student debt home shopping in the metro Denver area. I now have the platform to address a big financial pain point for today’s borrowers and help them buy a home. I win more customers with LoanSense.”
JeanniLoan Office at IMB
“Student loans are the single most important liability item that can be adjusted and improve the purchasing power of a buyer. Before LoanSense, I send them away to do it on their own and never hear back. LoanSense account executive is an extension of my lending team and our borrowers inevitably refer their friends with student loans to me.”
ScottCA based broker
"Mortgage Coach’s partnership with LoanSense gives lenders access to a purchasing power calculator that determines how much borrowers’ monthly student loan payments can be reduced. The impact can be life-altering for borrowers. It could mean $50,000 more for a better school district, an extra bathroom or close proximity to employment."
Joe PurthurPresident of Mortgage Coach
FAQ
As a lender, how do I make more money with LoanSense?
On top of the expert-level service you provide through our partnership, when you boost purchasing power, you lower your chances of losing loans and increase the purchasing power. Loan offices typically earn 1.5% per close loan and at our average boosted purchasing power of $98,900, we help LOs earn $1483 EXTRA per loan, not including the total compensation for loans they would otherwise turn down. This doesn’t even include the referrals that borrowers send over from solving the largest single barrier to home affordability for the purchaser market, student loan debt.
Our analysis for large lenders, show they are turning down $200M to $315 million in loan origination volume in 2021 for borrowers with high student loan balances that could have been adjusted in 21 days.
How do I sign up?
You can sign up for a free trial here. Or book a demo with our sales team to learn how we launch with your enterprise.
What’s included in the LoanSense program? What support do you give to lenders?
Once you sign up, we assign you an account executive, you can assist you with borrower scenarios and even underwriting guidelines. We provide them all our marketing materials aimed at the right pool of prospects. Along with this, whether you or your borrower purchases our service, we cut out the confusion of processing their student loans so they can close on a home at a higher value, faster.
What are the mortgage guidelines you use?
Freddie, Fannie, FHA and VA loans allow for federal student loan income-driven repayment plans to count towards reduced DTI. While payments are in pause, you may calculate a percentage of the federal student loan balance towards the DTI. 0.5% for Freddie and FHA and 1% for Fannie but LoanSense can kick a borrower into repayment with a lower repayment plan, qualify the borrower for loan forgiveness and allow them to dedicate their monthly payments towards an equity building mortgage, while getting on track to get loan forgiveness. This boosts the purchasing power and commission you make, while solving a problem for millions of Americans and helping them achieve homeownership 5 years sooner.
Is this debt consolidation or how do you adjust the student loan payment?
We adjust payments through federal student loan programs that likely do NOT involve consolidation. Consolidation combines multiple loans into one and starts the borrower at payment zero. This isn’t necessary and in most cases may cause harm. We enroll borrowers into programs in which they qualify based on their income, family size and employer type.
These are programs borrowers may enroll on their own by 79% commit errors and 3x the amount of time it takes to get to closing.
Do they just pay more interest on their student loan later?
No, we don’t extend payment plans; we enroll borrowers into programs that allow them to get forgiveness. It’s like a tax credit, but in lieu it’s an interest subsidy credit. LoanSense then helps the borrower manage their student loan most-close to help them achieve the best results. We are truly an extension of your practice and help borrowers overcome complex paperwork and barriers that exist for them in the federal system right now.