Targeted Marketing Method

FHA Marketing Lists

In 1934, the National Housing Act created the Federal Housing Administration for the purpose of increasing home constructions, reducing unemployment, and making insurance plans that would be friendlier to the people in general. This was driven by a need to resolve economic crises during the Great Depression and to give the American people a better chance of having financial support for their housing needs. Primarily, some FHA programs were subsidized by the government but the main aim was to make these programs self-supporting. Over the years, Private Mortgage Insurance companies began to grow and started getting into the market. FHA shifted its scope to people who are not qualified to get PMI loans. This is where FHA Marketing Lists became a compelling tool for FHA brokers, the separation of the groups saved time for all parties.

While the Federal Housing Administration offers a variety of mortgage programs for qualified individuals it is best to market different programs to different targets on your FHA Marketing List.

Here are some of the relevant deals for prospects that we can target and you may chose to work with:

" Conventional Fixed Rate Mortgage - in this type, the interest is fixed over a period of time.

" Conventional Adjustable Rate Mortgage - type of loan wherein the first 3-5 years has a fixed interest after which, interest will vary.

" Hybrid Mortgages - similar to Adjustable Rate Mortgages but the time period for the fixed rate of interest is usually longer.

" Jumbo Fixed Rate Mortgage - for loans more than $333,700. This type has higher interest rates than conventional mortgages.

" Balloon Mortgage - in this type of loan, small payments are made for a period after which the entire debt is paid with a lump sum.

" Relocation Mortgage - type of loan for people who need to move to a new home while their old home is on the market.

" Bridge Mortgages - a kind of relocation mortgage wherein the borrower can buy a new home even before their old home is sold.

" Equity Mortgages - loans based on the equity percentage of a borrower's home.

" Self-Employed Income Mortgage Loans - for people who are self-employed.

" VA's Home Loan Guarantee Program - this loan program was created for veterans. This is a special type of loan because no down payment is necessary.

With your FHA Marketing List you will know which category your leads belong to. You can work with them to, fulfill the following requirements:

1). The applicant must not have any past bankruptcy less than two years old. The applicant must have shown good credit standing for at least 2 years from the date of bankruptcy.

2). There must be no history of foreclosure less than 3 years old. The applicant must have shown good credit for at least 3 years following the foreclosure date.

3). There must be proofs of billing and proofs of a stable income for at least 3 years.

4). Your Loan applicant must be able to pay a 3 percent down payment.

5). The Loan Applicant must note that there is a 2.5 percent closing cost and that monthly payments should be about 30 percent of the applicant's income.

6). An FHA loan may be assumed from a seller and may be passed on to a buyer.

Getting this information together and submitting it you know that the FHA does not actually release loans. Instead it protects lenders and creditors from the risks of huge losses.

By this, the lenders and creditors in turn allow for lower interest rates than conventional programs. Whether it is for building a new house or for the repair of an old one, the FHA Marketing List can select and let you assist prospects in acquiring a substantial loan that's easy on the budget and practical

We'll find you consumer demographics that will have FHA Homeowners that have shown us an interest in your products or services.

Contact a Consultant today to explore your options

Get More information on FHA Marketing