Answering Consumer/Clients Routine Questions

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Think about the phone calls that you get day in and day out. I’ll bet that you basically get the same ones over and over again.

Read 12 routine questions from rate shoppers, prospects and/or borrowers who already have their loan in process with you.

Based on the news articles, blogs, social media and a real estate agent’s advice, understand that most consumers assume that the most important thing to consider when shopping for a mortgage — is the interest rate.

Here’s a list of the scripts included in this article for members:

• What are your interest rates?
• What are your interest rates (using MGIC Net Effective Income Rate Chart)
• What is the interest rate for your 30-year, fixed rate mortgage?
• I’m shopping around for interest rates, and ABC Mortgage told me to call them back after I shop around because they will meet or beat the best interest rate out there.
• I’ve already been pre-approved for a mortgage, but I’m still shopping around for interest rates—what are your rates?
• You have pre-approved a client for a mortgage, but they are still shopping around for rates.
• Why should I do business with you?
• What are your closing costs?
• Why do you need all those documents from me?
• Why do you need all that paperwork? (Humorous option)
• Can I get a lower rate if the rate is lower at the time of closing?
• Your closing costs are too high!

These answers are designed to move them from “rate shopping” to the “customer-service” angle.

Read the suggested answers. Rewrite them using your own words. Memorize them. Keep them handy to help you remember your scripts.

Non-Members - Available for Purchase - The “Little Book of Mortgage Scripts” with scripts to use with real estate agents, FSBO sellers, video scripts, voice message scripts and more.