The Qualification Funnel #
The form utilizes strict conditional logic to put applicants into two primary categories: Qualified or Disqualified. This is determined by a series of “Hard Gates” designed to ensure leads meet specific lending criteria before they are passed through.
1. The Journey Begins #
The process begins by immediately determining what type of mortgage the leads requires. The lead’s journey starts with four distinct paths. Each path has its own set of non-negotiable criteria:
- Home Equity:
- LTV Limit: Maximum 80% Loan-to-Value (including new money borrowed).
- Occupancy: Must be a Primary Residence.
- Reverse Mortgage:
- Age: Must be 55+.
- Equity: Must have >50% equity in the property.
- Refinance: The journey forks based on the specific objective:
- Rate & Term, ARM, Co-Owner Buyout/Other, or Stop Foreclosure.
- Purchase: A multi-variable path that breaks down by:
- Income Verification: Bank Statement Loan vs. Traditional Income.
- Loan Type: VA or Non-VA / Jumbo or Standard.
- Timeline & Property Type: Deployment of specific criteria based on the buying window and home type.
2. The Financial Quick-Gate (DTI & Credit) #
Since complex Debt-to-Income (DTI) calculations are too cumbersome for a high-converting quote form, we utilize a simplified rule of thumb:
- The 4:1 Ratio: A quick-rule check where income must be at least 4x the estimated mortgage payment to satisfy the preliminary DTI framework.
- Credit Score: Self-reported FICO ranges are used to determine product eligibility (Conventional, FHA, Hard Money, etc.).
- Downpayment %: (Purchase Path only) Used to determine LTV viability.
3. State of Residence #
- Logic: While the state is not a disqualifier, it is used to route the lead to the appropriate partner on a round-robin basis within that specific territory.
4. Contact Details & Anti-Spam Measures #
This section acts as a technical hard-gate. Leads are disqualified if they fail any of the following:
- Name: Must not contain curse words or “exclusion list” names (celebrities, etc.).
- Email: Must be a validly formatted address.
- Phone Number: Cannot be a fake number (e.g., 000-000-0000) or an unregistered VoIP number (Twilio, Callfire, etc.).
5. SMS Verification (The Final Gate) #
- Process: The lead must enter a 4-digit verification code sent via SMS within 10 minutes.
- Binary Outcome:
- Success: Lead is marked Qualified and delivered.
- Failure: Lead is marked Disqualified.
- Note: This stage typically filters out 50% of low-intent traffic, ensuring only genuine interest passes through.
Disqualification Logic #
A lead is either Qualified or Disqualified based on the following:
Income/DTI Failure: Leads falling outside the 4:1 income-to-mortgage threshold.
Loan-to-Value (LTV) Failure: Any Home Equity lead exceeding 80% LTV or Reverse Mortgage lead with <50% equity.
Age Failure on Reverse Mortgage: The lead is less than 55 years old.
Verification Failure: Any lead that fails the automated name/email/VoIP filters.
SMS Timeout: Any lead that fails to verify their device within the 10-minute window. Or provided SPAM answers to the name or email.