How Mortgage Brokers Can Better Reach Home Buyers
In a world driven increasingly by data, reaching out to new home buyers can be done with a lot more efficiency. By discovering and engaging with people most interested in and suited for alternative lending programs, a mortgage loan advisor specializing in non-prime mortgages will likely garner the leads most likely to pursue an alternative mortgage solution.
Online real estate listings have gone from elective to essential in the last few years, reflecting changes in how consumers look for information. Prospective home buyers comparing mortgage loans increasingly turn to the internet while researching options, making once obscure non-qualified mortgage loan products and alternative lending programs more colloquial and attainable. In response to the growing demand for non-qualified mortgages, licensed mortgage brokers too turn to the internet in search of the top wholesale providers, looking to satisfy the demand for non-prime mortgage requests they may be experiencing.
Online mortgage calculators play a large part in clarifying for home buyers what kind of agency and non-agency home loan is possible. Mortgage applicants are able to calculate estimated mortgage payments for, allowing them to research qualification options that they may have not known were available. Mortgage brokers who wish to provide alternative lending programs need to have non-prime mortgage loan options in order to provide for the needs of all their clients, whether they qualify for Agency products or not.
Client communication is changing considerably alongside society’s changing relationship with technological platforms. Marketing brochures procured within a bank or mortgage brokerage still prove relevant but the nature of communication outside face-to-face meetings has shifted. Client preference has shifted away from phone calls, making necessary the use of emails and text messaging. Mortgage brokerages also need to adapt new technology platforms in document preparation, electronic contracts, and forms, where there is a large shift to quicker and easier electronic signatures. Modern email platforms enable licensed mortgage advisors to contact hundreds or thousands of potential clients at once, filtering home buyers by the particular needs and mortgage loan programs they made be interested in. The process of turning a lead into a client has grown more efficient and targeted.
Social media presents an opportunity for alternative mortgage brokers to build genuine connections with non-prime home buyers. Facebook, LinkedIn, Google+, YouTube and Twitter form an important part of the social media story for real estate brokerages and mortgage lenders, ultimately generating sales and referrals. By providing quality content and engaging with your followers, you will gain the visibility and brand loyalty necessary to build relationships with potential clients.
When researching alternative lending brokerages, one of the most important factors to many prospective home buyers is trustworthiness. Brokers must portray a positive brand image with their website and design, have an easy to use site with strong calls to action, and provide a high level of customer service. Applicants seeking alternative mortgages also need to the ability to read about non-prime mortgage products directly on the site. This will allow non-prime mortgage brokers to focus on providing their service and time to the non-qualified mortgage leads most interested in alt-A mortgage solutions.
Angel Oak Mortgage Solutions offers a number of non-prime wholesale mortgage solutions for low credit borrowers.
Learn more about our non-prime program