Getting a mortgage pre-approval can be a nerve-wracking process—especially if you’re still in the early stages of deciding whether to move forward. That’s why Morty makes it easier for homebuyers to explore loan options and get pre-approved without the need for an immediate hard credit pull.
Why This Matters
Historically, Morty required homebuyers to complete a hard credit pull before receiving an instant pre-approval or submitting an application. While this was a necessary step for finalizing loan details, it created a barrier for early-stage users—those who weren’t quite ready to make a hard credit inquiry but still wanted to explore loan options and get a sense of their pre-approval status. This led to higher drop-off rates as homebuyers hesitated to proceed with a hard credit pull so early in the process.
Now, with this update, we’re introducing a soft credit pull option for users in the pre-approval and application stages. Here’s how it helps:
What’s New?
✅ Soft Credit Pull for Early Stages – Homebuyers can now get an accurate pre-approval and explore loan options with a soft credit pull, avoiding a hard credit inquiry until they’re ready.
🔄 Upgrade to Hard Credit Pull Later – If you decide to move forward with a specific loan option, you can easily upgrade to a hard credit pull when needed.
⚡ Smoother User Experience – This change reduces friction in the process and decreases drop-off rates, helping more users move from interest to application.
How This Helps You
🔹 Less Pressure for Homebuyers – With a soft credit pull, homebuyers can explore their options and get pre-approved without committing to a hard pull right away.
🔹 More Accurate Loan Options – Homebuyers still get personalized, accurate loan options based on their financial profile, even with a soft credit inquiry.
🔹 Higher Conversion Rates – By reducing friction in the early stages, we expect more users to complete their pre-approval or application, leading to higher conversion rates for your business.
This update is a win-win for homebuyers and loan officers alike. It makes it easier for early-stage users to engage with the platform, explore their financing options, and move forward at their own pace—ultimately helping you convert more leads into clients
