Top 3 Non-QM Marketing Tips
There are lots of would-be home buyers or refinance clients out there who don’t fit the conventional mold… But how can they find you? We spoke with one of our seasoned expert Account Executives, Kathleen Kaylor to get her insight on how to market Non-QM loans and in turn, fill your pipeline.
Harness the power of social media.
LinkedIn, Facebook, Instagram, Twitter, Tik Tok…they all allow you to broadcast your message directly to a targeted audience who is likely to be interested in what you have to offer. Share posts directed towards real estate investors, business owners, real estate agents, self-employed individuals, or other target markets and take advantage of paid promotion options to increase their reach.
Put your network to work for you.
Update your past customers and referral partners on the Non-QM lending options you have available. Even if they aren’t interested themselves they may have friends, family, or co-workers with a non-traditional scenario hoping to buy or refinance a home. Spread the word via email communication or even texts and phone calls.
Communicate a simple message.
Many borrowers will have heard of Non-QM, but not know anything about the products. They are likely to get overwhelmed by long lists of guidelines, so keep the initial messaging streamlined.
Kathleen tells her brokers to focus on solutions for each product.
Certain phrases could be the key to locking in a deal, such as:
- Great for real estate investors, flippers, and landlords.
- High loan amounts for high value homes.
- Lower qualifying credit score options.
- LLC, Partnership, and Corporate title vesting eligibility.
- Exceptions to guidelines considered with compensating factors.
Besides marketing Non-QM to clients, brokers should partner with an experienced mortgage lender. Luxury Mortgage offers Non-QM products that are simple, flexible and straightforward to help brokers close more loans.