ARM Reset and Refi Leads
Adjustable Rate Mortgage leads are generated when information
is received from homeowners who are considering changing mortgage types. The
client will already have an adjustable rate mortgage, and is looking into refinancing
the mortgage for a fixed interest rate.
ARM Reset leads that were submitted usually turn out to be a good investment
on the part of a broker or buyer. The homeowner will not have provided the information
unless he or she was giving serious thought to refinancing a mortgage. Because
the broker or buyer has this knowledge, he or she can be prepared to offer the
best services to the client from the outset.
Some companies who specialize in ARM Reset leads do more than just provide
client information. They also give details that will enable the broker or buyer
to make more informed decisions before the lead is ever purchased.
For instance, a company who provides ARM Reset leads may have
taken the time to determine exactly when a client is intending on starting the
refinance process. The company can then let the broker or buyer know what sort
of period is in place, thus allowing for more prompt contact.
This type of lead is considered lucrative due to the fact that many adjustable
rate mortgages will do just that-adjust the interest rate-within
the next few years. When this happens, many homeowners who initially chose an
ARM will find themselves with a mortgage that will have a higher interest rate,
and, subsequently, a higher monthly payment.
Although it can change practically overnight, the current economic climate
is such that more homeowners with ARMs than not will be looking at refinancing.
This in turn will result in more leads, which will result in more opportunities
for brokers, buyers, and others who are in the mortgage lead business.