If you are an affiliate marketer attempting to make a living from the mortgage lead gen niche, you will discover that consumers are finding it harder to get a home loan application approved. Regulations, rates, and skittish bankers can act as barriers to their application success — and dent your earnings.
Learn how to dissolve these barriers by finding the best opportunities with revJOLT‘s 7 step program to
lose unsightly flab boost mortgage lead acceptance by advertisers!
There’s so much to get through, this will be a 2 post series.
Affiliate Marketers Mortgage Lead Gen Boot Camp – Day 1
We recently introduced the mortgage lead gen vertical and affiliates are enjoying success.
But there’s a problem within the house buying market: too many home loan applicants are being turned down by banks. When this happens, not only are their hopes crushed, but everyone involved in that journey loses an opportunity, including affiliates.
Are we going to do something to fight this? You bet! So get ready to sweat it out — no pain, no gain!
Step 1 — Identify the pain points for average mortgage applicants
Understand that the home buying process can be overwhelming. Prospective buyers can be so overloaded with information and the process of looking at listings and comparing them, that they overlook financial detail. The terminology used in this market is confusing to the average Joe or Joanna. People feel lost, and make bad loan applications as a result, which means you get zero income from the effort you took to attract that lead.
Knowing this, you can tailor techniques to educate and qualify your prospects to increase the chances of that lead being accepted by the home loan provider.
Step 2 — Educate prospective buyers
Teach them about amortization schedules, loan breakdowns, the nuts and bolts of property finance. Use plain English to explain the technical terms in a way that is easy to understand.
Research all the special financing options available so you can explain them to your audience (FHA, VA, and USDA programs, for example).
When it comes to their house buying budget, ensure they understand the additional fees that come as part of buying a house. Legal fees, taxes, deposits, Home Owners Association (HOA) fees, insurance and other outgoings don’t necessarily occur to someone hunting for a mortgage when they assess affordability.
Step 3 — Help your lead prospects prioritize
Ensure that your prospect prioritizes the financial considerations over the dream of owning a house.
They spend so much time looking for a home in a good school area, with a large yard and a lemon tree they forget to look up their loan chances. So they find the house that ticks every box on the wishlist, and are heartbroken when the bank says “not on your salary!”
How do you help prospects avoid this problem? By telling them about it!
“Get pre-approved” is your new mantra.
Step 4 — Make more connections with approved partner lenders
revJOLT allows you to connect with a huge network of advertisers, and our mortgage vertical is growing fast. Our platform allows lenders to match their offer to their ideal buyer, and this means you will get the best price for your lead. If you haven’t signed up yet, what’s stopping you?
It’s not over yet!
Look out for day 2 of the boot camp to exercise those affiliate muscles when it comes to your toolset, recovering rejected applicants, and expanding your offering.
Sounds tough, you’d better be ready!