Morgage Quote Generator
Summary
A leading mortgage originator, aiming to showcase its cost benefits to homebuyers, found its sales process slowed by the need for extensive individual education. Viabl solved this challenge by leveraging its AI-powered code generation engine, Castle, to build a flexible and educational mortgage quote generator. Cost savings in the initial build left room in the budget for new feature development as needs were discovered.
Key Takeaways
AI-Driven Development Saves Resources: By leveraging Castle, we kept initial build costs down, preserving budget for crucial refinements revealed during real-world testing.
Flexible Solutions Drive Better Outcomes: Allowing the client to reorder and update educational content on the fly ensured adaptation to customer insights without a costly overhaul.
Analytics Increases Engagement: Measuring how customers actually use your product is essential. By responding to real user feedback, a crucial feature was discovered.
Iterative Improvement is Essential: The cost-effective development approach enabled quick deployment and immediate feedback, catalyzing more focused, data-driven enhancements.
Challenge
It’s no secret mortgages can be complex. The average homebuyer requires significant guidance to understand why one lender’s product might be more advantageous than another’s. Consequently, our client’s staff spent considerable time educating homebuyers one-on-one, diverting valuable resources.
Approach
Viabl recognized the client’s need for an educational platform flexible enough to educate different types of homebuyers while highlighting the client’s cost advantage. Rather than lock in a rigid structure upfront, we proposed an adaptive platform that would allow the client to change and reorder educational modules as new insights emerged. We used Castle, Viabl’s AI-powered code generation engine, to swiftly develop a first iteration of the application.
Solution
Viabl collaborated closely with the client’s internal teams to develop a web-based mortgage quote generator that seamlessly integrated educational content. Built on a flexible, modular architecture, the platform empowers our client to easily update or reorganize content as they learn more about their customers’ needs. For homebuyers seeking a deep dive, the tool presents step-by-step guidance on the ins and outs of mortgage products, fostering clarity and trust.
Making this solution possible is Castle. By leveraging Castle in the initial development, we delivered a functional, high-quality product at a lower cost, freeing up budget for iterative enhancements. This approach not only met the client’s immediate needs but also positioned the platform for rapid, cost-effective refinements based on real-world user feedback.
Results & Impact
By launching the first product with Castle, our client quickly validated the mortgage quote generator in the real world and collected valuable user insights. Early data indicated a significant reduction in manual education efforts, as more potential borrowers grasped the cost advantages. This freed the client’s staff to handle more clients per team member.
Upon launch, we discovered that a sizable portion of users wanted to get right to running the numbers. Due to our approach, our client had plenty of budget left over to respond to these learnings by introducing a “one page” option that allows more seasoned users to skip the education and less common scenarios such as qualifying for HomeReady® and Home Possible®.
This “one page” feature significantly increased the proportion of users making it through the quote generation process. These users appreciated the streamlined path, while those looking for more guidance benefited from the in-depth educational modules. This dual approach allowed our client to generate leads from users looking to run numbers while also educating users looking to understand their mortgage options.
Looking Forward
This collaborative project showcases how a forward-thinking approach to web app development can yield high-impact results in a complex field like mortgage lending. By aligning strategy, technology, and user experience, the client was able to offer a compelling tool that set them apart from competitors.
Moving forward, Viabl will continue working closely with the client to refine the mortgage quote generator and explore additional features. As consumer behavior evolves, the platform’s modular design and Castle’s rapid code generation will allow for ongoing innovation at minimal cost. Whether it’s enhancing user journeys, adding new educational materials, or streamlining back-end processes, the tool’s flexible foundation ensures the client can keep pace with market demands and stay at the forefront of digital mortgage solutions.