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With every year, come new opportunities. And astute loan officers are quick to capitalize on what the new year brings, raising their commission levels and catapulting to top producer status in no time. I ask you one simple question, “Are you doing everything you can to maximize your income?” Anyone who has been in the mortgage industry for at least a year, knows that as home prices increase, so do the conforming loan limits from both Fannie Mae and Freddie Mac. January is a great time to go through your existing customer base, and drill for hidden opportunities. It’s “found” money. And it’s waiting for you. Here’s a quick and easy way you can start your new year off with a bang. Go through your entire past customer base, and pull-out all the “JUMBO” loans you closed last year and before. As you know, the interest rates on these loans are typically half a percentage point or more above standard conforming loans. With the yearly increase in loan limits, this is a great chance to refinance an existing customer from a JUMBO loan, into a regular conforming loan and cut their interest rate! Even a small percentage decrease can save a customer hundreds of dollar in their monthly cash flow as well as thousands of dollars in interest over the life of their loan. It’s simple math and the savings are black and white. Refinancing JUMBO loans into conforming loans is easy money and your customers will love you for it! How many loan officers do you know that are proactive and actually look for ways to save their customers money? Not many, I’m sure! And the ones who do, do this, certainly aren’t going to share their secrets with you. But, I will. This will be the easiest sales call you’ve ever made! Not to mention the referrals you’ll get in return. It’s a win-win situation. Don’t miss the boat. Your past customers are your greatest asset. They know you, they have a relationship with you, and they trust you. Waste no more time!!! I beg you! Go through your customer database now and mine for the gold that awaits you. What are you waiting for? Using the same old thinking and doing the same old things the same old way will get you nowhere. Think different. Be proactive. Add value to your relationship with your customers whenever you can. Uncover the opportunities that lie hidden all around you. Do this and you’ll quickly vault to top producer status in no time. Not to mention your income and lifestyle will increase as a result. For reference, here are the loan limits for . You’ll want to print these out as you mine your customer database and uncover opportunity. CONFORMING LOAN LIMITS: Single-family = $359,650 Two-family = $460,400 Three-family = $556,500 Four-family = $691,600 (Higher loan limits apply for Alaska, Hawaii, U.S. Virgin Islands, Guam) FHA LOAN LIMITS: Single-family = $172,632 base, $312,895 high cost Two-family = $220,992 base, $400,548 high cost Three-family = $267,120 base, $484,155 high cost Four-family = $331,968 base, $601,692 high cost (FHA “high cost” areas include places such as Boston, New York City, Washington DC, Los Angeles, etc. amongst others. See fha.gov for details on all areas). VA LOAN LIMITS: Up to $359,650 maximum. In closing, always remember that each new year brings higher loan limits--and with it—a chance to pull in some quick, easy refinance loans. Whether or not you take full advantage and raise your commission level, is entirely up to. The gold is there waiting for you, ready to be claimed. But, will you reach out and take it? Click here to see a printout from a recent commissions report with my biggest month ever! Download the entire system now and start earning more money immediately. Click here...
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