Homeowner Application: Small Improvements for Big Results
Fraction helps homeowners tap into their home equity without monthly payments, offering a flexible alternative to traditional loans.
Fraction’s core product starts with the homeowner application: a multi-step form where users submit their property and financial details for funding consideration. But the completion rate was low. Only 13% of users who started the process finished it. We redesigned the flow to reduce friction, improve clarity, and build trust. After testing, we saw a measurable improvement in completions and a shift in user behaviour that helped inform future iterations.
The Problem
The homeowner application was underperforming. Only 13% of users completed it. We looked at Hotjar session recordings and saw drop-offs happening gradually, without a single obvious bottleneck. That suggested broader form fatigue rather than one specific flaw.
- Inspired by Typeform, we showed one question at a time—but users had no sense of progress or context.
- Everything was manual, even info that could be fetched securely.
- The offer wasn’t clearly communicated during the form, which made it feel like a black box.
- The design lacked support cues, accessible help, and strong visual polish, crucial for a financial product.
What We Shipped & Why It Mattered
This form was the first real touchpoint in our customer journey. If users dropped off here, they never entered our pipeline, and we lost the chance to vet promising deals.
Trust and clarity were make-or-break. Homeowners were being asked to share sensitive financial information and submit details on their biggest asset. If they didn’t understand what they were getting or didn’t feel confident in the product, they’d walk away.
We started by breaking down the problem into four core areas and aligning each with a design hypothesis.
1. Form Structure
We moved away from the single-question format and grouped questions into logical sections (e.g. property info, income, assets). This reduced mental load and helped users move through faster.
We also added progress indicators so users knew where they were and how much was left.
2. Autofill Integration
We implemented a third-party authenticator tied to a verified phone number, allowing us to pre-fill information like name, address, and contact details—removing unnecessary friction.
3. Product Clarity
We updated the copy throughout the flow to explain what the product is, how it works, and what happens next. The goal was to reduce the feeling of a “black box” and give users more confidence as they progressed.
4. Visual & Brand Improvements
We polished the UI to reflect the product’s maturity and security. We also introduced in-flow support tools—like live chat access and help prompts—to make users feel like help was always nearby.
These changes weren’t flashy. They were focused, practical, and built around trust.
Results (3 Months After Launch)
We launched a 50/50 split test between the old and new versions of the application and ran it for two months.
13% → 16%
Instead of gradual tapering, drop-offs clustered around high-effort moments (like asset input), showing improved early-stage engagement. With cleaner clustering, we knew exactly where to focus future efforts (i.e. building trust around sensitive inputs).
This was a small but meaningful improvement. It gave us better behavioural data, improved form flow, and set the stage for ongoing iteration.
