subject: Refinance Lead Filter Tips - The Importance Of Focused Leads [print this page] Many homeowners are going online to look for lenders that can help them refinance their home loans. Frequently, they are first time buyers that need to convert their existing high interest adjustable rate mortgage to a fixed rate mortgage. Thousands of homeowners have mortgages that are higher than the home is currently worth. This decrease in real estate value has made refinancing more difficult than it has been in the past. Mortgage lead buying for the refinance market can be competitive and exclusive leads expensive. There are several options that are available to these homeowners.
Cash back refinancing allows borrowers to get cash back when the amount is for up to 95% of the original loan value. Demand for this FHA home refinance program has increased for many reasons. The first of which is that the loan limit was raised from its original amount. Refinancing as a whole increased due to adjustable rate mortgage products. FHA home loans allow for lower down payment percentages than traditional loans. They also have looser restrictions on credit score requirements. Companies that engage in mortgage lead buying and focus on refinance leads have representatives trained to ask specific questions to qualify and close the sale in one call.
Many companies sell refinance leads. What sets the leads they sell them apart from the rest is their quality. Utilizing filters will help companies interested in mortgage lead buying to focus on only the types of leads they want. Filters may include state, mortgage amount or high interest rate loans. The leads should be verified from several points to ensure the lead contains the right address and phone number. Often, the leads can be sent real-time. This means that the prospect can potentially receive a call the same day they have made the request for more information.
Internet refinance leads can be sent from the vendor to the mortgage lead buying company quickly and easily by email. The number of leads sent is based on the filters applied to the leads and purchase commitment. Lead management software allows the data to be imported for complete files fast. To keep conversion rates high, loan representatives must be persistent. They must continue to attempt to contact prospects until they receive a response. If they give up after only one or two tries, they may be missing the boat. Changing the way you get, manage, and process leads can go a long way towards improving your workflow and getting you much more success in your industry!
by: Troy Truman
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