Written By: Karen Deis
How would you like to show your clients not only how to save thousands of dollars on their fixed-rate mortgage, but ten’s of thousands—and it actually be true!
Fixed-rates are back and most loan officers have been conditioned to think that just because rate sheets offer 15, 20 or 30-year options, that those are the only terms they can offer.
However, the 25-year fixed rate mortgage is alive and well and you can use this option not only to save your clients more money, but also sell against your competitors.
This article shows you:
- The mathematical differences.
- Effective headlines to use on your ads, website, email notices.
- How to include in your seminars.
- Script on how to sell against your competitors.
- Script on how to show the difference even after 5 years.
First of all, while the interest rate for 25-year fixed is the same at a 30-year fixed. Some wholesale reps don’t even know this—but they are included in a 30-year mortgage pools. On the 1003, the term is 300 payments instead of 360.
Here are some examples comparing a $150,000 and a $200,000 loan.
Read More
