REALTORS....Are you using the loan to generate buyer activity?

With the current stagnant market, now is the time to partner with a loan officer that can provide some solutions to help generate some buyer activity. If you're lending partner is offering nothing more than a phone call looking for loan activity, you may want to reevaluate this relationship. This is the type of market that separates the "Loan Officers" from the order takers.

For example, a seller can contribute up to 6% as a seller concession with a loan to value of 80% or greater up to 95%. With a loan to value of 75% or less, the seller concession can equal 9%. Instead of continuing to cut sales prices, consider taking this seller concession and buying down the buyer's interest rate. Buyers are sitting on the fence and one of the reasons is their fear of adjustable mortgages. Offer the buyer a 30 year fixed.

My team, at Academy Mortgage, was able to save a sale for a realtor in this area by offering the client a 4.25% interest rate fixed for 30 years. The payment was the buyers "hot button" and we addressed it. This is just an example of the many creative ways the finance package can generate activity.

If you would like more information or you have a particular scenario you would like to discuss, please feel free to contact my team.