Community Highlights: Meet John Caliendo of eLoansUSA

Today we’d like to introduce you to John Caliendo.

Hi John, thanks for joining us today. We’d love for you to start by introducing yourself.
I’ve been in the mortgage industry for over 20 years. Years ago I envisioned a platform where borrowers could apply for and process a mortgage on their own, with limited interruption and zero sales pressure. Today, eLoansUSA.com provides users that experience. In just a few clicks, users can obtain a custom mortgage rate quote, compare loan options, and see estimated fees, all without speaking with a loan officer.

Today’s consumers are savvy. They expect an easier, transparent, faster mortgage at great value. They want to self-educate and ask for help when they need it. There’s also a lack of trust between consumers and mortgage lenders, and most of that is due to the lack of transparency offered by lenders. with eLoansUSA.com, I aim to change that.

I’m sure it wasn’t obstacle-free, but would you say the journey has been fairly smooth so far?
It’s not been a smooth road at all. Every lender has different rate sheets and pricing methodologies. Plus, we have to decide what our margins are going to be so that rates can be posted publicly. Do we build it from the ground up or piece together current tech? I am piecing together current tech for now while building proprietary tech in the background. Right now, we can only offer rate quotes on the main products like Conventional, FHA, VA, and USDA but in the future, I plan to expand the engine to handle all kinds of loan products. Always improving!

Alright, so let’s switch gears a bit and talk business. What should we know?
There’s nothing we’re doing that can’t already be done. The technology is there, so why is rate shopping and comparing for borrowers so difficult? There are two things holding lenders back; greed and fear. If they post their rates then they have to offer the same margin to everyone. They would no longer have the ability to maximize their profit on each borrower individually. But they’re also afraid that if they do post rates, consumers will just take a look and keep shopping. Their goal is to avoid rate discussion or specifics and focus on the relationship, until the borrower feels like it’s too late to shop around.

My hope is that once consumers see that we’re honest and transparent upfront in the process, they will trust us and want to do business with us. If we’re not the best priced and they can do better elsewhere AND get the same great service, then they should go for it.

Our brand isn’t just about financing homes, it’s about changing the relationship between borrower and lender and earning back their trust. On top of that, we have the heart of a teacher and wish to provide education and information as much as possible. The current industry norm is, “just sign here, and trust me because your agent recommends me.” Borrowers are going through the lending process blind most of the time because busy loan officers don’t want to take the time to educate and explain. My website has a whole, dedicated learning center. Borrowers have the same or similar questions so once your templates are made you can just copy/paste and tailor.

Modern and clean brands like mine are often lacking in choices. In an effort to streamline things, they will only present the consumer with 3 choices, as an example. With eLoansUSA, we’re a broker first and a lender second. So we have a network of over 270 lenders and all kinds of unique products to help borrowers. We’re not just a cookie cutter lender, we do it all; Conventional, USDA, FHA, VA, DSCR, Down Payment Assistance, Jumbo, Asset Depletion, Fix N Flip, Manufactured housing, Bank Statement Lending, Reverse Mortgage, and Home Equity Conversion Banking Loans. But we have lots of solutions for self-employed and investors.

How can people work with you, collaborate with you or support you?
Real estate agents who are tired of field questions like, “what are rates doing, what would my payment be on a place like this, or how much can I afford?” Agents have to scrounge for their lender’s business cards or call their lender at weird hours, or tell the prospect to call the lender (9 times out of 10 they never call) and what happens? They lose the prospect. Now, all they need to say is “just visit eLoansUSA.com to obtain a custom mortgage rate quote, instantly.” Our innovative web-app will tell them what loan programs they can qualify for based on the info they input, credit score, etc., what the rates are, payments, total estimated payments, fees, and estimated closing costs, all without speaking to a loan officer.

Lenders who want to do business with us or have innovative lending products can reach out to help@eloansusa.com.

In terms of me personally, I can sit open houses with agents. I host a bi-weekly mastermind group to help them build their business.

Financial advisors who want to do seminars/webinars or lunch and learns. I have some very innovative products that can help their clients.

Divorce attorneys who need a loan officer who understands how equity is actually split up and will take the time to break everything down for their clients so both parties know exactly what their entitled to.

Contact Info:

• Website: https://eloansusa.com
• Instagram: https://www.instagram.com/eloansusa
• Facebook: https://www.facebook.com/profile.php?id=61567005057167
• Youtube: coming soon
• Other: https://g.page/r/CSVUxWugh1BdEBM/review

Image Credits
Just to myself – John Caliendo