JULY 1, 2020 – CLEVELAND, OHIO – Native Clevelander, Mitch McFadden, left Northeast Ohio to start a mortgage company with partners in Florida in 2012. He grew that business year over year into a mortgage powerhouse, winning a spot on the coveted INC. 5000 list for the last 5 years straight. But, last year, he abruptly sold his stake in the company and used the proceeds to create a brand new enterprise. Community Heights Funding, or CHF, as Mr. McFadden calls it, offers one product: low-cost mortgage loans.
“I saw what was possible down there [at his prior company]. I saw proof that my model works to bring a consistent and fast closing to a very large number of clients. But, I knew that I could do more. I had a vision of a company stripped to its essentials – with none of the luxuries that I have seen bloat the bottom lines of most companies in the industry. These costs are always passed on to the customer. It has become the norm for the comfort and income of the company to mean more than that of the borrower.” – Mitch McFadden, President Community Heights Funding, Inc.
Community Heights Funding’s product line is hand-picked to focus on products that have demonstrable positive impacts on the communities where they are obtained. While there are a number of newly emerging Sub-Prime loan programs re-entering the market, these are not in the product line at CHF. The business model and line are both built to move quickly with a focus on loan closings in under 13 days on average. The variety of offerings all seem to demonstrate a focus on customer education and smooth loan closings.
“So often it is repeated how complex the mortgage process is. But, I have seen over and over that it doesn’t have to be. So many of the causes for longer processes boil down to internal organization and protection of the lender fee. I had already figured out the process, so all I was missing was a Lean organization that would allow me to cut the average origination charges by more than half.” – Mitch McFadden
Community Heights Funding, Inc. has opened its doors and is accepting new customers. They are offering USDA, FHA, and VA loans as well as Freddie Mac and Fannie Mae mortgage loans. They have a proven system to help first-time homebuyers, and they use a system with Realtor communication in mind.
Community Heights Funding, Inc. is a mortgage company committed to constant improvement: of our systems and processes, of ourselves, and of our Community.