(This is only an example, no actual interest rate is being used)

Using the reports that The Mortgage MAXIMIZER generates you can provide new options to your borrowers that they can't get anywhere else.  Let's take a look at a real world example using numbers generated from The Mortgage MAXIMIZER. These numbers are based on a customer who has applied for a mortgage of $145,000 over 30 years.  You have pre-qualified this borrower and can get him a 7.5% interest rate with no money out of your pocket.

• Broker: "Mr. Borrower, I have ran your loan application through three of our top lending companies and I have come up with an interest rate of 7.5% for your loan.   How does that sound?"
• Borrower: "Well, I had really hoped that my rate would be a little lower. Are you sure your getting me the best deal you can?"
• Broker: "When we spoke on the phone, I explained that your rate would be based on your credit, and the amount that you needed to borrow.  Now there are a couple of ways that we can get your rate down with the lenders.  The first way is for you to buy your rate down with points.  For 2 points, or $2,900 I can get your rate down to 6.875%.  How does that sound?"
• Borrower: "That's a lot of money, what is the second option?"
• Broker: "When I spoke with you on the phone last week I decided to have your proposed loan analyzed by a company that does Biweekly mortgage deductions, they came back with some pretty favorable numbers on your loan.  If you were to sign up to pay 1/2 your mortgage every 2 weeks instead of paying the whole thing once a month, you can get an effective interest rate of 5.86%.  Your effective interest rate will be much lower than your actual interest rate because you will end up making one extra payment to the lender per year by paying Biweekly.  If you look at this chart you can see that you will also be paying off your mortgage 6 and 1/2 years early, and saving $56,633 in interest payments.  And the total cost to you... $295.  That sounds a lot better than $2,900 doesn't it?
• Borrower: "Well yes it sure does.  So let me get this straight, I still get my loan at the 7.5% interest rate, but by paying 1/2 of my mortgage payment every 2 weeks I'm effectively lowering my interest rate by paying my mortgage off early?"
• Broker: "That's right.  And the best part is that the $295 can be added right into your loan so there is no out of pocket expense outside of your loan."
• Borrower: "Well that sounds like a winner to me, lets get the ball rolling....."

In this example, the borrower was wavering because he was rate sensitive.  In real life, this borrower would be on the phone calling around for a better interest rate the second you walked out the door.  How many times has this happened to you?   Have you ever been shopped and lose the deal?  Ever been surprised at the 11th hour when they insist that you do better or they will not go through with the loan?   By showing your borrower the benefits of The Mortgage MAXIMIZER you just locked him into using you to get his loan.  If he does decide to shop around, he is going to be looking for another broker to beat a 5.86% interest rate.   Because that is what he will have highlighted on the report you leave with him.   No one else will be able to touch that rate, and the number of people who are bundling a Biweekly program with their mortgage products is virtually non-existent right now.  Think of the sales you can close if you can just skip the interest rate argument with your borrowers. 

"What if the borrower still wants a better rate", you ask?  "Well Mr. Borrower, for just an extra $25 per month we can knock your effective interest rate down to 5.19%.  This will save you $78,701 in interest, and allow you to pay your mortgage off 9.3 years early.  How does that sound?"  What have you just done?  You have shifted the focus away from your yield spread and points.  There is no reason to take a hit in your fees if you can show the borrower how to save $78,701 in interest for $25 per month.

But it gets even better.  We also talked about reducing the term of the loan by 6.5 years, and saving nearly $57,000 in equity.  Why don't you talk about what they could do with the $57,000.  Will they be putting children through college?   Would they like to retire early?  Put money away?  The Mortgage MAXIMIZER will also build equity faster in their home so if they sell it, they will get more money back.

The truth is, if you talk about the potential of this program with the borrower, you can have another salesperson talk to them right after you leave, and come in with a lower interest rate, and you will still close the deal.  No one else will be able to offer what you are giving these borrowers.  So how much is it going to cost you?   Nothing, in fact we are going to pay you $195 for every one you sell.  So you make $195 and have a sales tool that should help you close between 10-50% more loans a month.  If you fill out our online application, we will send you our agreement via e-mail as soon as we get your e-mail.  You can start using this program with your borrowers tomorrow.

Apply Now to offer this program

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