Dataman Group offers many different Refinance Prospect Lists. This enables Mortgage Marketers to reach different market segments with different offers, customized specifically for them. Direct mail continues to be a high-response medium for these offers.
5.9 million home owners refinanced last year. Did you know that 953,000 of them took out their initial mortgage in 2018?
Low rates are making it very attractive to refinance. All you need to do is get your message in front of the right people.
According to Black Knight, a mortgage technology and analytics provider, nearly 19 million or 43% of 30 year mortgage holders are refi-eligible,
That means they have a minimum 720 credit score, at least 20% equity and can reduce their mortgage rate by at least 0.75%. Most of these homeowners could save about $300 each month by refinancing.
Mortgage marketers can focus on the States with the most Refi-Eligible Homeowners such as CA, FL, TX, NY & IL but also look at places where Borrowers can save the most such as HI, DC, CA, NY & NJ. Some States might not have as many Homeowners who are Refi-Eligible but have a high % of Refi-Eligible Homeowners such as OR, AZ & CO.
If there are so many good potential refi candidates out there, why aren’t they all jumping on the historically low rates? Some just aren’t sure of the savings that they would have while others are wary of the costs of refinancing. Smart Mortgage Marketers will stress the extra savings while offering incentive to cut down on closing costs.
Letting Homeowners know just how much they can save each month in a well thought out marketing piece or script could help you reach many of the millions of prospects waiting to take advantage of what the market has to offer.