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Mortgage rate engine development

Client

1st Rate Home Mortgage, Inc.

Industry

Mortgage

Location

United States

Technology stack

  • Javascript

    Javascript

  • HTML5

    HTML5

  • CSS3

    CSS3

About project

Designing and building an automated mortgage rate engine that works through integration with an Optimal Blue platform and smoothly guides consumers through their home buying journey.

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Context

Rate engine is a mortgage tool that enables home buyers to easily find suitable and real-time mortgage rates based on their predefined parameters (i.e. home purchase price, down payment, credit score, etc.).

Challenge

Typically, rate engines have a bunch of pitfalls throughout the development process, like ensuring smooth integration with the rate platforms (such as Optimal Blue or Mortech), or ensuring user-friendly rate display by applying proper filtration algorithms. But thanks to our deep expertise in a mortgage domain, we knew about these challenges in advance and were able to easily overcome them.

Project Results

The project resulted in building a mortgage rate engine that is fast, reliable and works uninterruptedly for both desktop and mobile users.

Suitable for both purchase and refinancing purposes. Also, it allows users to select up to 3 loan terms simultaneously and then easily compare the results.

Integration with an Optimal Blue platform ensures real-time rate search experience and 100% reliable data source of rates.

Not to overwhelm users with all the parameters at once, we've split the fields into mandatory and additional. When users open additional fields, they might want to modify the selections that are predefined as the most popular scenario cases.

No personal information required from users. They just enter the parameters and instantly get the results displayed on the same page. Helpful prompts and labels help them to ensure that they can scan through the results effortlessly and quickly find the best rate option among those provided.

Before they are ready to apply, they might want to check a bunch of additional details, like associated fees and charges. So a detailed fee worksheet is available for them to check and print.

Suitable for both purchase and refinancing purposes. Also, it allows users to select up to 3 loan terms simultaneously and then easily compare the results.

Suitable for both purchase and refinancing purposes. Also, it allows users to select up to 3 loan terms simultaneously and then easily compare the results.

Integration with an Optimal Blue platform ensures real-time rate search experience and 100% reliable data source of rates.

Integration with an Optimal Blue platform ensures real-time rate search experience and 100% reliable data source of rates.

Not to overwhelm users with all the parameters at once, we've split the fields into mandatory and additional. When users open additional fields, they might want to modify the selections that are predefined as the most popular scenario cases.

Not to overwhelm users with all the parameters at once, we've split the fields into mandatory and additional. When users open additional fields, they might want to modify the selections that are predefined as the most popular scenario cases.

No personal information required from users. They just enter the parameters and instantly get the results displayed on the same page. Helpful prompts and labels help them to ensure that they can scan through the results effortlessly and quickly find the best rate option among those provided.

No personal information required from users. They just enter the parameters and instantly get the results displayed on the same page. Helpful prompts and labels help them to ensure that they can scan through the results effortlessly and quickly find the best rate option among those provided.

Before they are ready to apply, they might want to check a bunch of additional details, like associated fees and charges. So a detailed fee worksheet is available for them to check and print.

Before they are ready to apply, they might want to check a bunch of additional details, like associated fees and charges. So a detailed fee worksheet is available for them to check and print.