What is STEM Lending?
STEM Lending is an online loan broker created to empower later-stage millennials as they buy their first home. STEM Lending establishes trust through transparency, while taking the borrower through every step of the process of obtaining a mortgage. Our combination of best in class technology and mortgage expertise give us a unique advantage that we use to help today's millennials get the best mortgage for them, without any hassles.
At 92 million large, Millennials (born 1980-1990) became the single largest segment of home-buyers in the U.S in 2016. As this generation starts hitting major life milestones, we at STEM Lending wanted to create a competitive marketplace for them to shop & compare their mortgage options.
How does STEM Lending work?
It all starts with a simple set of 6 questions, all answerable in minutes. After that step is completed, you can continue your process with one of our mortgage experts, either our digital chatbot, or a live person that is available 24/7. The average manual mortgage process involves 280 pages of paperwork -- with STEM Lending, there’s no paperwork, there's no headaches, and there's no waiting for hours or days for someone to get you an answer to a question. Instead, we proactively keep you updated with knowledge of where you are in the process, while we watch the market to see if there are better rates for you.
Once we’ve helped you find the best mortgage product for your needs, we make ourselves available to help with your process as you work through the application. Whether you are verifying personal information that we've populated from TurboTax or entering it yourself, you can always just press a button to chat with one of our mortgage experts.
Is there a fee to use STEM Lending?
You pay nothing. As a borrower using STEM Lending, the cost to you is $0. As a loan broker, we are paid by our partner bank lenders for processing your mortgage application. This fee is a small fraction of total notional value of your mortgage. We pride ourselves on transparency and gaining your trust, so we will always tell you exactly what we’re getting paid so there's no confusion.
Which states does STEM Lending operate in?
STEM Lending, Inc. may make certain announcements, advertisements, partnerships, and offers as we make our product known to potential customers. These do not guarantee approval of, qualification for or access to STEM Lending, Inc. products, services or mortgage interest rates.
All offers made by STEM Lending, Inc. are subject to full application and qualification in conjunction with our partner banks and credit unions.
STEM Lending is currently going through the registration & licensing process to conduct business in the following states: Florida, Colorado, and Pennsylvania.
What’s the difference between you and price comparison websites?
Some sites are purely comparison websites who only give you a basic concept of what a few lenders can offer. This is a limited approach for what is likely the largest individual purchase you've ever made, and the offers may not be tailored to your needs. At STEM Lending, we work alongside you, understanding your individual circumstances and goals, and then match you with the best mortgage product available on the market. Our mortgage experts work to help you complete your entire mortgage application with the lender, offering an end-to-end service that is completely free of charge.
Our proprietary technology drives both the automated underwriting process and conversational chatbot which makes using STEM--from start to finish--so easy. That said, we know getting approved for a mortgage and buying a house is such an important milestone, and we understand the desire to speak with an individual. STEM Lending makes it possible to complete your full application without speaking to anyone, but if you want to speak with one of our mortgage experts, you literally just have to press 1 button.
How can I contact you?
You can reach us on our website, or by email or phone. We are always available 24/7 during the week, and from 9am - 9pm on Saturday and Sunday. Additionally, if due to some technical glitch you are unable to reach us on the website, please call us at 646-798-1800. Alternatively, you can also email us at email@example.com any time you have a question.
Everyone says that I can get my rate quote in minutes - how long does STEM Lending take?
Each and every one of our borrowers have unique information that our machine learning underwriting platform analyzes within minutes, but the exact timing may vary due to individual circumstances. If your particular mortgage application process was difficult, or if you have additional questions, please reach out immediately to speak live with one of our mortgage experts to work through that issue. We aim to always let you know whether we can work with you within 24hrs maximum.
Why should I use STEM Lending vs. Chase, Citigroup, Wells Fargo bank directly?
We understand that from a branding standpoint and prior experience, you likely already have a relationship with an existing bank. It is definitely possible that your retail bank may be able to offer you a competitive rate, but we do not suggest taking that for granted -- check & compare your options at STEM Lending. Our company exists to demystify the mortgage process and to find the best rate for you.
We sort through all the noise and marketing spin to offer you a 100% transparent, thorough understanding of your options. Our motto is: "Clear costs. Clear choices. Helping you close with confidence."
We want you to feel that by the end of your experience with STEM Lending, you know that you've gotten the best mortgage product, the best rate, and had the best customer service on the market. And remember, all of this is for free to you!