Stem Lending was founded out of a realization that first time home buyers are being underserved in the market.
Homeownership is one of the most cherished dreams of our lives. However, doing anything substantial for the first time is daunting. More so, when we are making one of the biggest purchase of our lives. Lack of step-by-step guidance and complex jargon makes securing financing for homeownership overwhelming for even savvy buyers, let alone first time home buyers.
In the US, a quarter of homebuyers are unhappy with their mortgage lender and the disappointment is even worse for first-time homebuyers.
Mortgage lenders have no incentive to show a competing lender's discounts. Retail mortgage brokers don't have the economies of scale discounts they could pass on to home buyers, that digital mortgage brokers like Stem Lending command.
The core problem is that mortgage lenders have no incentive to show a competing lender's discounts, causing significant information asymmetry between lender and home buyer in the housing markets. Retail mortgage brokers don't have the volume discounts they could pass on to home buyers, that digital mortgage brokers like Stem Lending command.
Credit Unions are missing out on personalizing the loans to best fit consumer needs, by offering credit only for a narrow band of credit scores and region.
By offering choice, transparency, scale and true product personalization is how a digital mortgage broker like Stem Lending can address the needs of our digital native generation.
We felt that getting a loan shouldn’t be confusing. It shouldn’t require you to manually negotiate with multiple lenders and brokers, and it shouldn’t take months of uncertainty. Today’s borrowers demand speed, efficiency and a transparent experience – that’s what Stem Lending is committed to provide.