n Offer tips of the day on building
good credit, how to qualify for the
lowest interest rates and what underwriters are looking for on a mortgage
n Create a simple app or calendar
reminder to help your clients follow
the simple steps to becoming highly
n Inspire your prospective borrowers
to make the effort to learn and apply
what it takes to get a lower interest rate.
Remember, if it is at all possible, you
should help clients who truly desire to
buy a home or investment property to
attain that goal.
There are many ways to help clients
achieve the dream of homeownership,
even marginal or currently unqualified prospective borrowers. It all starts
with having a plan and then putting in
Let prospective borrowers know it is
never too late to start building their credit power. Buy them a book on qualifying
for a mortgage loan or building credit.
You should read each book you give
away so you can discuss the content with
your clients. You do not want to suggest
anything you do not agree with or understand yourself.
Take clients to free seminars. If you
are there with them, you can build your
relationship and answer questions they
might have. Or develop a PowerPoint
presentation and start giving seminars
yourself. The more knowledgeable you
are, the more confident you will become in staging your own seminars.
Give prospective borrowers a sample
1003 mortgage application to review.
Some people will give up on a quest for
a home just because of the fear of filling
out the application. Provide your clients
with a glossary of loan terminology as
well. Getting familiar with the 1003
form and knowing the terminology will
ease the fear for first-time borrowers.
If your prospective borrower still
needs help, give them a gift certificate
for a one-hour, one-on-one credit consultation with a financial professional.
Listen carefully to each prospective
borrower so you can custom design a
plan and offer solutions that take into
consideration their credit issues and
desires. Be creative and think of other
ideas you can pursue to nurture the
prospective borrowers you are working with.
If real estate agents and mortgage
originators in your area are unwilling to
extend a helping hand to borrowers with
credit nicks and dings, you can even pick
up business by asking those mortgage
professionals to refer their turndowns to
you. Become the local who is willing to
supply prospective borrowers with information and resources to repair and build
their credit power.
n n n
The more borrowers you help, the more
your business will benefit. Old-fashioned
common sense says that every borrower you succeed in getting funded
represents a success for you, both personally and in terms of business.
Helping people creates loyal clients,
who, in turn, refer their friends and family to you down the road. It only takes a
little extra time to be helpful and share
resources, and in return you will build
your own personal referral team. n
<< Transform continued from Page 58 “Let prospective borrowers
know it is never too late to start
building their credit power.”