Home Search
We integrated assumable mortgage listings into HomeLight’s marketplace, driving an 18.4% increase in conversion and generating over $160K in revenue through 17 closed transactions — powered by a seamless self-serve mortgage calculator and streamlined sign-in experience.
The Problem
With today’s high interest rates, homeownership has become increasingly unaffordable. HomeLight helps ease this challenge by offering assumable mortgages—home loans that allow homebuyers to take over the seller’s existing mortgage terms, often at significantly lower rates.
Currently, only VA, FHA, and USDA loans are eligible for assumption. In Florida alone, there are over 15,000 assumable listings on the market.
We saw a unique opportunity to feature these listings on HomeLight’s existing Home Search page to drive user engagement and revenue.
There was initial ambiguity around how this product would fit into the market, but it quickly became clear that assumable mortgages offer real value to buyers navigating a tough financial landscape.
I worked on this project from Q4 2023 - Q1 2024. I ideated on the early discovery phase, presented regularly to stakeholders, and delivered final assets for production. I worked with a team of 1 product manager and 4 engineers.
The Discovery
Through extensive user research and collaboration with the PM on user story development, we discovered that while both real estate agents and homebuyers were excited about the product, they had significant concerns. Key pain points included anxiety around timing and financial overlap, as well as confusion about the types of homes that qualified. Common questions included:
Do I qualify for this loan?
How long does it take to close?
What if I don’t have enough for a down payment?
Business KPIs:
Educate our home buyers from 0 to 100 on a product that doesn’t exist in the market yet
Goal = Closings Fees
Product:
Home search page -> Property detail page
Page view count
Property click count
Unique visitors
Bounce rate
Filter -> Ultra low rate (assumable mortgage)
Property detail page -> CTA
- Click count
- Contact Info complete rate
Initial Design Ideas
Homebuyers - First Lead Experience
Calculator logic: Developed a responsive, self-serve tool that dynamically updates based on user inputs
Agents - Logged-In Experience
Real-time update: We implemented dynamic sync that gave agents visibility into what their clients
viewed, saved, and requested tours. It provides accurate expectations and improves conversion.
Agents - In-App Messaging
Engagement: Agent can now track and message clients in the app.
Result
We didn’t just improve operations—we enabled an entirely new acquisition channel that was critical to our growth, especially in this challenging market.