Have you spoke with your lending partners about ARMs or buying down points? If not, you are falling behind. These are not the products of the past. It is time to get educated on all of the financing options and start messaging the possible advantages to your buyers and your sellers, so you can stand out as an expert. Here are a few advantages you can message. For buyers, an ARM can be up to 1.5% lower than a fixed rate lowering their monthly payments. Some products are locked in for 7, 10 or even 15 years. This give them a large window to refinance plus most people aren’t even in their home longer than 10 years making these a great option. Additionally, buying down points might be a money saver in the long run for buyers. Make sure they are at least evaluating it as an option with their lender. On the same note, if your listing is sitting on the market offering some concessions to buy down points may make the monthly payment more affordable. Whether your client decides these options are right for them or not, messaging these options shows you are aware of the challenges they are facing, that you care enough to address those challenges and the expertise to introduce them to additional solutions…sounds like the type of agent everyone will want to be working with. Keep elevating our industry.
Watch Video: https://youtu.be/5Fs2tAg-sgU
Dave Veldkamp
Owner, RE/MAX Grand Rapids
616.460.6123 (Call or Text)