#TwoforTuesday – One of my favorite to write. This week I want to highlight the biggest change recently in the mortgage industry and a guideline I found out in a group! The power of groups is huge, if your not in them you’re missing out. I’m in so many I sometimes miss my own groups engagements. In the past three weeks I’ve done two different campaigns for 203H loans and have generated over 75 leads completely FREE from groups. I did it in CA and in FL/GA groups on Facebook of course.
The other day I found out in a group about a VA guideline I didn’t know. If a Veteran has filed for the disabled veteran status, they do a #VAloan and then later on can send the paperwork into the VA and since they were not exempt at time of loan, get a principle reduction of the VA funding fee later on. Crazy, I didn’t know that. Found out in a group full of LO’s that guideline. As long as the filing was prior to the loan, they can do this. If your an LO, join Sales Talk with Mortgage Pro’s group along with 4500 others!
The biggest announcement I’m sure you’ve seen is that LOAN AMOUNTS have been increased for conventional conforming limits. This is a good sign. And hope to see FHA’s loan limits increase with it, but that’s yet to be announced. The difference in a #MortgageBroker compensation on a 453,100 deal now, versus the new loan limit of 484,350 is 859 dollars. Yep, an average comp plan with a mortgage broker will almost make another nine hundred dollars more in commission due to having a larger loan size. Another reason why broker’s are better. If you’re a mortgage broker and want to get on point with more #Niche programs for 2019 – CLICK HERE! We’re partnering with true “partners” as we go into 2019, and personally I will be helping as many as I can grow their business. Let’s start now!
As Always –
PS – Ready for a video yet? I am, Thursday is the day! Stay tuned!