Loanpal: The Brand And Its Products
The current home-ownership market gives better access to mortgage funds to people who are able to buy their homes but not to those who want to make an upgrade, remodel or fix up their homes. With the support of local technicians, Loanpal is making this possible by connecting homeowners with vetted service providers at a single source marketplace.
Loanpal: About & Story
Loanpal provides efficiencies across the industry by providing frictionless, point-of-sale technology for thousands of mission-driven professionals and millions of homeowners who want to upgrade their homes and save money.
Loanpal set out to create a more sustainable future and wanted to build the industry’s most innovative and collaborative finance company. Loaning money sustainably has required us to rethink every step of the process. From how they originate loans, to how they serve them, to how they communicate with our customers, everything reflects our values.
LoanPal provides an integrated marketplace connecting every aspect of the sustainable living marketplaces. They offer a point-of-sale platform for the professional and consumer markets, as well as a lending mechanism for businesses creating sustainable value.
Their goal is to make the world a better place by helping people live sustainably.
Is LoanPal a good company?
LoanPal was a very accommodating company. They are personable, friendly, and will keep you in the loop with every step of the process. They inform of the amount of time it was taking as well as when to expect your closing date. They help get a loan pre-approved in 3 days and approved within 2 weeks from start to finish.
What happens if i want to sell my home?
The Loanpal program does not provide direct financing for the completion of the project. However, once the loan is extended and approved, homeowners may use the funds to accomplish these repairs.
The Loanpal program offers a borrower an opportunity to sell his/her home with as little as 5 % down payment with quality terms. The new buyer is not required to take on any of the existing loan. Instead, he/she can purchase the home assuming responsibility of the existing loan. The buyer agrees to assume a loan that is secured by the property that he/she wishes to buy.
Loanpal: The Final Thoughts
Mortgages funding is a big industry and that’s why new companies like Loanpal are taking notice of the sector. The home ownership market allows for more mortgage funds to be passed on to homeowners who need it but for those who want to make upgrades, remodel or fix up their homes, the current market doesn’t make access easy. The support of local technicians and vetted service providers at a single source marketplace is what makes Loanpal work for homeowners. Because the homeowners make only one application to get all their financial needs and home repairs.
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