The biggest mortgage product is the 30 year conventional loan, so that’s what many customers apply for. Since it’s so popular, it’s also the type of loan many originators recommend. This, however, isn’t always the best option for either originators or customers. In fact, you should be thinking about selling them 15 year loans. You should also be thinking of getting them into VA or FHA loans instead of conventional ones. Here are some of the benefits of alternative financing options and why they’re the best options for many people.
As the economy continues to improve, the Federal Housing Authority (FHA) has broadened the spectrum of eligible homeowners who seek an FHA Streamline Loan.
Ultimately, an FHA Streamline Loan is a fancy term for refinancing a mortgage to take advantage of lower interest rates. Therefore, mortgage lenders or other mortgage decision makers have an increased opportunity to make a profit on such refinance options, such as live transfers.
Before you begin searching for FHA Streamline Loan homeowner leads that could translate into an actual refinance, you need to know some benefits of these loans. This will help you encourage your customers to reduce their payments and foster a more stable financial future.