It can be difficult for a borrower to cut through the clutter. So many mortgage companies are emailing, texting and calling that it’s challenging to hone in, select the best rates, vet the broker, and proceed with your refi. However, another problem arises in a low rate market - especially one struck with COVID-19 and flirting with record lows. It can actually be difficult to give them your business!
Let me explain. When the news changes for the worse, rates often plummet, and with improved rates comes high levels of interest. Many folks around the country see misleading ads for “0% mortgage interest rates” (obviously not realistic) and flock to websites, email chains, and texts asking for rate quotes. They are absolutely justified in doing so, as checking rates 24/7 can save you thousands with a properly timed home finance. You’ll want to lock a great rate before it’s gone, of course.
Now, are mortgage companies - Prospect Home Finance included - prepared for such historically high client volume? Not always. Most brokers are staffed for a regular season of refinances, as opposed to the jaw-dropping number of inquiries we see today. Prospect Home Finance is taking steps now; we’re expanding our Marketing and Loan Coordinator departments to field this high client volume, but even we struggle to keep up...
This is mind, I want to give you some advice to cut the line and refi WHEN YOU WANT:
How can I cut the line to refinance NOW?
I can’t speak for every broker, but if you want to cut our “line” for refinancing today, complete an online application. Our entire process is digitized through a site called “Floify”, where you’re able to submit simple docs like income verification and tax returns. It doesn’t take long, and can even be done from your phone.
This cuts the line because it shows us that you’re seriously considering refinancing on a tight timeline! With all docs submitted, we can immediately get you in touch with a licensed loan officer to take care of you. Just make sure you’ve checked current rates using our live quote generator: http://prospectquote.com. If you’re seeing lower rates and/or payments, there’s no reason not to apply.
That’s your best bet. You can also call me at 858-605-0952, and we’ll get you taken care of!
Prospect Financial Group
948 Garnet Avenue
San Diego, CA 92109
NMLS: 349089 | BRE: 01837707
Jason Vondrak has been in the mortgage industry since 2004 and co-founded the mortgage brokerage Prospect Financial Group in 2006 in San Diego, California. Today he serves as President and CEO of Prospect Financial Group and the president and founder of Prospect Property Group, a real estate development company, established in 2012.
We've been helping customers afford the home of their dreams for many years and we love what we do.
Company NMLS: 365482
875 Garnet Ave
San Diego, California 92109
Phone: (858) 605-0952
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