Refinance Prospect Lists

Refinance Prospecting – updated March 8, 2023

Look for cash out refinance prospects. We will be seeing households who are accumulating debt who need options.

Record levels of homeowner equity mean cash-out refinances are also on the table for many people. Meanwhile, with rates still low historically speaking, it will generally still pay to convert an older adjustable-rate mortgage to a fixed-rate loan.

Current mortgage rates are hovering around 7 %. This is way higher than at the start of 2021.

At current rates, there are around 9.8 million well-qualified homeowners who could lower their mortgage interest rate by at least 0.75 percent if they decided to refinance today. This is according to mortgage data company Black Knight.

Most of these homeowners can average a savings of $279 per month. That’s a potential savings of $3,348 per year. About 1.2 million of these homeowners could save up to $500 per month, for yearly savings of $6,000.

Why Haven’t They Already Refinanced?

If there are so many good potential refi candidates out there, why didn’t they all jump 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. Some of it is timing.

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.

You can select Homeowners who are Refinancing-Eligible

  • Can get a new loan that decreases their 30-year mortgage by at least three-quarters of one percentage point (for example, from 3.75% down to 3% or lower).
  • Have at least 20% equity in their home (have paid off 20% of the value).
  • Have good credit (score of 720 or better).

Refinance Prospect Lists – customize your list with these elements

  • Home purchase price
  • Purchase date
  • Mortgage amount
  • Rate type (fixed/ARM)
  • Loan type (FHA/VA/Conventional)
  • Loan date
  • Revolving Debt
  • Market value
  • LTV
  • Age & estimated income of Homeowner
  • Scrubbed telephone # – landlines or cell phones – Need a cold calling script?
  • Email addresses

Cash-out Refinances

This new marketing list lets mortgage brokers reach homeowners who are looking to pay off their old mortgage and keep some extra cash at the same time.

Homeowners with High Interest Rate Mortgages

Dataman Group is able to pull Homeowners who took out mortgages during high interest rate periods.  A mortgage refinance prospect is defined as a home owner who would save at least 75 basis points on the interest rate on their loan. This can translate to a big dollar savings. Because of this, homeowners who can benefit from a refinance are happy to read your offer.

VA Mortgage Holders / VA Streamline Prospects

VA Mortgage Interest Rates are  pretty low. Dataman Group’s sophisticated software can pinpoint your best VA loan prospects. Because of this, you can target VA Borrowers whose origination dates were during higher interest rate periods.

By using our VA Streamline Prospect list, you can reach the millions of homeowners who are in a position to benefit from a Streamline Refinance.

LMIs

LMI means lower-to-middle-income consumers. Many of these households are great prospects for you.

  • Of the 121 million LMI consumers on-file, 95% (116 million) are credit-eligible for a mortgage.
  • Of the 10 million identifiable VA-eligible consumers, 86% (8.6 million) have credit scores above 620 and are mortgage eligible.
  • Of the 6 million identifiable self-employed consumers, 67% of renters (2 million) and 93% of homeowners (4 million) have a credit score greater than 620.
  • Of the 8 million current renters who were turned down or otherwise withdrew their mortgage applications, 5 million would classify as LMI.

Lender Select

You can select your refinance prospect list by specific mortgage lender.  As a result, many banks use this list to find specific refinance prospects in their particular markets.

ARM Resets

You can also select ARM Reset Leads. This lets you reach Adjustable Rate Mortgage Holders. This group may be facing a change in their mortgage payment in the coming months. Consequently, when a homeowner is facing an impending increase in mortgage payments, they are open to your refinance offer.

Telephone Numbers

Lists of Refinance prospects with scrubbed telephone numbers are available. We offer both landline and cell phone data. For information about the telemarketing sales rule, please visit the FTC website and make sure you are in compliance.

Email Addresses

Email addresses are available for many of these refinance prospects. We can append email addresses to your list so you can contact these prospects through multiple channels.