Converting Mortgage Loan Prospects into Borrowers
Forty-six percent of homebuyers are first-time buyers, and 61 percent of first-time buyers are now between the ages of 24 and 38, according to a 2018 Zillow report.
Further, first-time homebuyers are more likely to shop around for a mortgage lender than repeat buyers, the report said. And more than half of first-time buyers contact two or more lenders (54%) versus 37% for repeat buyers.
So, what steps can credit unions take to convert these shop-around prospects into borrowers?
Read the ACUMA Pipeline article.