Help Home Buyers Discover the Power of a Mortgage Calculator
First-time home buyers are usually overwhelmed by the amount of information that is needed to secure a mortgage loan. Interestingly, many buyers think that finding a home that also checks the important boxes for their spouse would be the most challenging part of the process. Lending professionals can help home buyers discover the power of a mortgage calculator and other useful details.
Point Borrowers Toward Helpful Mortgage Resources
Giving borrowers an abundance of insightful tips will help a loan originator develop more relationships. While some lending experts might believe that too much information could get a borrower into trouble, the exact opposite is true.
Educating a borrower about helpful mortgage resources shows that a loan officer is willing to share knowledge and tips about the home financing process.
When a borrower has a sufficient amount of information, he could be more comfortable with the decision to move forward with a specific mortgage company.
Transparency is the best path, as a borrower who does not receive enough support might perform a Google search that directs her to another mortgage lender.
With a mortgage calculator, a home buyer can solve a variety of basic equations.
Teach Home Buyers How to Use a Mortgage Calculator
While the process should seem straight forward, taking a few minutes to educate a borrower about the best ways to use a mortgage calculator might be appreciated.
Explaining to a borrower how to input various terms, loan amounts and interest rates will be helpful when performing mortgage calculations.
Additionally, a loan officer could tell a borrower where to find mortgage interest rates other than a 30-year loan term.
It is also a prudent idea to ensure that a borrower who wants to refinance knows how to use a mortgage calculator, too.
Perhaps, a borrower is undecided between a 30-year fixed-rate mortgage loan and a 15-year fixed-rate home loan. Knowing how to perform some basic mortgage calculations could empower a borrower to compute various monthly payments.
Provide Value for Prospective Borrowers
While the goal for an originator is to submit a completed loan application that has a high probability of becoming a funded transaction, some occasional hand holding may be required.
Mortgage professionals who provide a substantial amount of value for borrowers might receive referrals and online testimonials. Remember, whether a loan transaction was favorable or unpleasant, a borrower will share her home-buying experience with others.
Taking the time to answer any questions that a borrower has, providing some financing tips and helping buyers discover the power of a mortgage calculator could result in more closed transactions.
Mobile Copywriter provides content creation and digital marketing services to help lending professionals generate free mortgage leads. We also offer affordable web design, mortgage calculators and the best landing page funnel content for loan officers.
Contact us today for more information about engaging with borrowers who want to buy a home or to refinance.
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