Savvy Homebuyers are Great Customers – Now and in the Future

BuyersA recent Fannie Mae survey found that consumers have limited understanding of what it takes to qualify for a mortgage, and most believe the requirements are tougher than they are. When asked about key mortgage qualification criteria (such as down payment percentage, credit score, and debt-to-income ratio), roughly half of consumers selected “don’t know” or provided an incorrect answer. This research suggests that there are too many eligible homebuyers sitting on the sidelines due to misperceptions or anxiety about being turned down for a loan.

Buying a home is complex and often intimidating. There are great tools and resources that real estate professionals can take advantage of to help educate their customers and give them the knowledge to move ahead and buy with confidence.

To take advantage of the Fannie Mae HomeReady™ mortgage, potential homebuyers complete the Framework online homeownership education course. The Framework course is an engaging state-of-the-art, web-based, mobile-enabled program that walks buyers through every phase of the home purchase and ownership process. Encouraging homebuyers to take the course early will help them navigate the home buying process more smoothly and help them make realistic and sustainable choices.

Framework costs $75 for unlimited access (less than many monthly cell phone bills!). Coupons are available for bulk purchase and make a great premium for new clients. Framework can partner with you to offer the course through your business website, which offers another channel to stay connected to prospects.

But what about the prospects who truly aren’t ready to buy? Many families are struggling with credit troubles and limited savings. Fannie Mae partners with nonprofit housing counseling agencies around the country that can provide homebuyers with quality advice to help them improve their credit, manage budgets, and save money for homeownership. These agencies are a great resource for real estate professionals. Connecting those “not quite ready” prospects with real help can earn you a loyal future customer who will return ready and able to buy.

As always, I am here to answer your questions. Please feel free to reach me via FB, e-mail, text or phone.