These are the top equity loan prospects for mortgage equity loan offers
Homeowners with Equity and High Revolving Debt
These Homeowners have high equity in their homes and are carrying high revolving debt balances. This is an excellent list for home equity offers. This list combines County Real Estate Information together with Sophisticated Credit Modeling. Marketers can select by Estimated Current LTV as well as Estimated Revolving Debt. These elements combine to really pinpoint the right prospects for a particular offer.
In today’s market, it’s also key to remember that financial marketers are facing tremendous competition. Therefore, it’s imperative to make sure their offers and mail piece stands out in the crowd.
Homeowners with 2nd Mortgages
Often strapped for cash, homeowners with second mortgages are good prospects for Equity Loans.
Select by 2nd mortgage transaction date, loan amount, loan type and telephone availability.
Homeowners with Children 15-18 years old
These pre-college families often secure Equity Loans on their Homes as a way to finance college education for their children.
Select by homeowner age, estimated household income, presence of spouse, home value, as well as telephone availability.
Homeowners with High Available Equity
This new list uses an Estimated Available Equity data element to accurately predict home equity. The value of equity equals the estimated current home value minus the mortgage amount. If the loan has come to term, the buyer has 100% equity in the home.
Sale price, sale date, mortgage amount, and loan term are variables of this list, in addition to presence of telephone number.
Marketers are always looking for Homeowners with high home value and large amounts of equity. First of all, they are most receptive to many offers, including home equity loans and home improvement opportunities. This group is also targeted for purchase of second homes and luxury products such as vacation packages or luxury cars. Furthermore, these homeowners may want to convert come of their equity into cash.
Homeowners with Low Loan-To-Value Ratios
This is a percentage of home loan amounts divided by the current market value of the home. The lower the Loan-to-Value ratio, the more equity the homeowner has on the home. Consequently, homeowners with low Loan-To-Value ratios are excellent equity loan prospects.
Direct Mail Responders
Homeowners, length of residence 5+ years, with presence of credit card, under 65 years of age. Estimated household income and/or home value are also available. This list is available with or without telephone numbers.