Mortgage Marketing Outlook – 1st Quarter of 2018
The new Tax Code will bring plenty of changes. Because of that, mortgage brokers will need to refocus their mortgage marketing outlook for the coming quarter. With a cap on the Mortgage Interest Deduction, a limit on the Property Tax Deduction and an end to HELOC deductions, it’s vital to consider new strategies.
For example, while we all love to market to the higher end, right now Middle Class Renters and Homeowners might be great prospects for a loan; they may view themselves as being in a more advantageous position that ever before with respect to the housing industry and would be worth a renewed focus. Under the new tax plan, future homeowners who live in less expensive areas will realize more tax benefits than people buying in more expensive areas. That doesn’t mean you should give up on the wealthier areas but it’s also important to broaden the net to include areas that you might have ignored before.
Your mortgage marketing strategy needs to focus on products that will not be affected as much under the new tax code.
There are great list options to find prospects for refinancing, streamlining, reverse mortgages as well as originations.