Jul
25
What market conditions have to in place for a 20% down payment to be a standard requirement of most lenders? I’d think conditions similar to our current state in 2010 were foreclosure sale are common and default rates are high, but without government assistance in the financial sector.
by Nemo’s great uncle
I am a Mortgage Broker looking for some good ideas for advertising. What is the funiest or best mortgage ad anyone has seen? Any loan officers out there with any creative new ideas?
What is a mortgage? How long is a typical mortgage? Identify the different types of mortgage on offer in the United Kingdom? If you cannot keep up with mortgage repayments what can happen?
Not sure if you reside in the Dallas/Ft Worth area, but there is a mortgage lending company that utilizes ultra cornball in their TV/Radio ads. They feature Kevin Miller who is well spoken. The production values in these ads are great and consumers clearly have embraced his ad concepts. http://www.texaslending.com/
If you live outside of Texas, I would entertain looking at mirroring his concept. If executed correctly, consumers will see less of the cornball and more of ther offerings as they have successfully done here. Of course the key ingredient that 99% of companies resist is the fact that guys like Texas Lending spend at a much higher clip than the standard broker. Average ad expenditures against revenue typically are 11%. These guys have to be pushing pretty close to 18% in order to break through the clutter in a large market like Dallas/Ft Worth and to keep the accelerator all the way down. If you can spend enough, and you have the right creative, you’ll win. Most places decide they dont want to spend the right amount to break through and they never win.
If you are looking to advertise mortgage services online, try Regional Mortgages
http://www.regionalmortgages.com
Its an informational website that has a directory of local mortgage professionals. They allow for one mortgage rep per zip code.
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Why could you not look in a dictionary?
A mortgage is a loan for real estate. Typically 15 to 30 years. If you can’t make the payments the lender will repossess or foreclose on the home.
A mortgage is a money loan to buy a property. In the UK, average mortgages were for 25 years, but I think you can now get them for much longer. You can over pay each month which will reduce the mortgage and pay it off quicker. If you don’t keep up with your payments, the mortgage lender can take possession of your house to pay off the debt and you could end up homeless.