This project was a quick sprint to help Opendoor rethink its new Home Loan division's web and mobile experience. Previous work on the site existed, with some user research completed, and customer pain points documented. We validated this research and workshopped redesign concepts and flows with borrowers, loan officers (aka Mortgage Consultants at OD), and Opendoor stakeholders.

Problem Statement

As a borrower searching for a home loan, I find ODHL web and mobile experience untrustworthy, limited, and disconnected from the Opendoor brand, with poor education, for example in terms of differentiation between prequalification and preapproval flows. 

My Role

UX Design Lead

Team Structure

1x UX Design Lead
1x Graphic Designer
1x Project Manager
1x Mortgage SME

Project Length

2 Months

Problem Definition

We performed a UX audit on the existing site, looking at everything from messaging to site design. Our findings aligned with what we heard in user research; personas are not well-catered to with vague CTA's, confusing value propositions, and a general lack of education.

Problem Definition

The borrowing process involves many steps, each with a unique set of pain points, which can lead to unnecessary anxiety for the customer. We wanted to simplify the overall process and create more of a "shepherded" walk-through experience. 

Personas

Based on user interviews, we created three different persona sets, each with unique existing pain-points and needs on the platform; agents, borrowers, and MC's (Mortgage Consultants).

User Flow: Prequalification

It was important to drill into the site's prequalification user flow to understand breakdowns and opportunities. For example, we learned that many borrowers didn't understand the difference between prequalification and preapproval and experienced frustration as a result.  

Solutioning: Prequalification

We spent significant time looking at the prequalification flow, as we knew this was an area where users were dropping off. We worked with Loan officers to distill the process to the core essentials and to build in educational information wherever possible

Solutioning: Loan Calculator

We wireframed and tested different versions of built-in utilities like this loan calculator which could help the user estimate the loan amount vs monthly cost, and estimated downpayment. Our findings showed that users preferred the slide bar interaction more than manual numerical input to play with the numbers. 

Unhappy Path

It was also important to look at the so-called "unhappy" path for the user, one where they are rejected or communication with a Mortgage Consultant (MC) is required

Solutioning: Refinance Flow

The refinance user flow was a secondary, but critical interaction to look at, with unique considerations.  We designed and tested a "Reverse Calculator" which allowed the user to toggle between two different goals: a faster payoff or lower overall cost. 

Feature Prioritization

We looked at a variety of borrowing experiences from competitive Lenders, to understand the feature landscape. Our user interviews informed us which features should be prioritized to give ODHL a strategic edge in the market.

UX Copywriting

Good user experience should extend beyond site components into its copywriting. We made suggestions and tested different versions of Calls to Action to see which might lead to greater engagement and resonance. 

Solutioning: Homepage Above Fold

We created a range of different homepage designs, each with a unique emphasis and user segment in mind, which could be used in a range of scenarios, for example, a direct link sent from an agent. 

Solutioning: Agent Version

Not only did we design for the borrower, but also for real estate agents who might be prospective partners with Opendoor Home Loans, representing a whole different set of needs and information.   

Takeaways

Assume Nothing
Terms that might be standard within an industry might still be completely foreign to general users. 

Less is More
Especially when it comes to walkthrough-style interactions. The more steps you have, the more likely drop-offs will occur.

Respect Privacy
Only collect the minimal amount of information critical to contact the user. Asking too much may cause drop-offs. 

People like Options
When appropriate, provide different goals with different outcomes. 

Personalize when Possible
Each user segment will have unique goals and thus will be expecting different information and actions.