With the "fog-a-mirror" loans gone, with loan officers chasing the few deals that are out there, with consumers not being able to tell one mortgage company from the other, with everyone offering fixed-rate mortgages, how do you market yourself as unique and different?
With the Super Saver 25 Loan.
When marketing yourself, there are three things you need to know:
1. All businesses want one thing-customers
2. All customers want is-the best deal for them
3. Your marketing should do just one thing-articulate why you are the best deal.
So what's a Super Saver 25 Mortgage? It's just a fancy name (think branding) for a 25-year fixed rate mortgage.
Reflect upon this statement/headline:
"Do you know why some banks won't tell you about a 25-year fixed rate mortgage and only offer you a 30-year option? It's because they want to keep the $32,000 in extra interest expense, that's why!"
The tag line: Ask me about my SuperSaver 25 Year Mortgage.
Do the math yourself and compare it to a 30-year option. With a $150,000 loan amount and a 5.75% interest rate, the monthly payment is $68 higher a month. The interest difference is $32,313.
Now that you've given it a "brand name," how do you market it?
Post on your website
Blog about it
Mention it when prospects call you for a rate quote
Show your clients the Super Saver 25 at loan application
Include in signature line on your e-mail
Announce it to your Realtor database
Feature it in ads in your local homes magazines
Explain it at your homebuyer seminars.
Let me tell you the reality of it all. Hardly anyone will take you up on the 25-year option.
So what? You are offering the option of saving them tens of thousands of dollars! You are probably going to be the only one explaining the option to them. It's the same as do you like the "blue one" or the "red one."
This may just be the ticket that will to set you apart from your run-of-the-mill-30-year-fixed-rate-competitors.
If you like the idea-do it now, because if won't work if you aren't the first one in your area!
Karen Deis is president of
