It’s no secret that rates are on the rise this year. Now is the time to pivot towards other strategies that are not focused on low interest rates. Many consumers are only familiar with refinancing to a lower interest rate, but it is our goal as loan officers to show them the bigger picture.Verify your mortgage eligibility (Feb 23rd, 2024)
Look, interest rates are still historically low.
Although nobody has a crystal ball and we cannot tell where the market will be going tomorrow, we can show consumers the current market trends and how to strategically lock in an interest rate.
There’s also the opportunity to help consumers consolidate their debt to a lower total monthly payment. It’s simple math that can show how a cash out refinance can save them money each month.
Long-Term GoalsVerify your mortgage eligibility (Feb 23rd, 2024)
Get to know the consumer and find out what their goals are. Are they looking to renovate their home? Are they the type to re-invest their home equity? Are they retiring soon and need more cash reserves towards an emergency fund?
A simple 10-minute phone call or email sent to check in could bring a cash-out refinance opportunity.
Time to NetworkVerify your mortgage eligibility (Feb 23rd, 2024)
First evaluate network. Ask yourself these three questions…
1. Where did you get the most referrals from last year?
2. Who were your top referral partners?Verify your mortgage eligibility (Feb 23rd, 2024)
3. Should you leave or join more networking groups?
The last two years we were fortunate enough to receive a waterfall of emails and phone calls with consumers looking to refinance. We can’t waste time waiting for these calls this year. Meet with your current network, in person or on zoom and discuss your goals for 2022.