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How to Prep for a Wave of First-Time Home Buyers

lending to first time homebuyers

Lenders are on the cusp of a much-needed shift in the real estate market. With lower interest rates on the horizon, industry experts anticipate a flood of first time home buyers in 2024. 

As a mortgage professional, this is your chance to finally increase your volume and profits in a market that’s been less than ideal for a while. Unfortunately, many lenders find themselves up against challenges in their current situation. Some are stuck in an obsolete net branch environment. Others face operational problems such as: 

  • A lack of institutional support
  • The inability to offer competitive products or rates 
  • No control over their profit

If you can relate, it’s time to make some changes. MortgageRight provides a branch manager opportunity that will position you to support a higher volume of buyers in the coming years. 

Forecast: Mortgage Originations on the Rise Over the Next Two Years

In October of last year, the Mortgage Bankers Association (MBA) announced an expected increase in origination volume. By loan count, they predicted an increase of 19% in 2024. That’s 5.2 million loans up from 4.4 million last year. 

As inflation eases, we should see lower interest rates. And while home prices are still high, they’re expected to flatten and decrease over the next few years. Plus, housing inventory is finally starting to rebound from its Covid dive. 

This is the perfect recipe for a surge in first time home buyers ready to find their dream house. It’s also a chance for you to start setting yourself up to capture this increase in demand. 

The Role of MortgageRight in Boosting Mortgage Lending Volume  

Are you working your life away for a large financial firm where you have no decision-making power? If so, you won’t be able to benefit from a surge in home buyers – you’ll just work harder. 

MortgageRight offers a solution in the form of a unique branch manager opportunity that puts you in the driver’s seat. We’ve built a platform based on total support so you can focus on loan origination and capture as much volume as possible. Our P&L model opens up your earning potential and gives you control of the decision-making process for your business. 

Because our model sets the stage for higher volume potential, we give you the tools you need to get set up and start originating loans right away. This includes: 

  • Control over your P&L 
  • No layers of management 
  • Access to top mortgage products
  • Transparent pricing 
  • Clear communication 
  • Accounting and underwriting support 
  • The ability to set your own margins 
  • No revenue caps
  • Recruitment services

Along with these benefits, MortgageRight gives you access to a full range of business and origination support resources. This is everything you need to start building an infrastructure and meet the rising demand we’re expected to see. 

Leveraging Our Resources for Healthy Business Growth 

Whether you’re new to branch management or transitioning from another partner, starting and scaling your business is tough. We understand the challenges our managers are up against in such a competitive market and have responded by providing niche resources to help you grow.  

The Right IT and Tech Stack 

You can’t compete today without industry technology. In fact, many mortgage professionals consider tech tools one of the most important elements of their business. 

MortgageRight offers a custom tech stack that will help you streamline loan origination and provide superior customer service. Features include: 

  • Encompass360, which automates the loan origination process 
  • nCino, which helps speed up the closing process   
  • Pricing and locking tech so you can find and lock in the best rates 
  • Post-closing retention tools that boost repeat business and referrals 

Along with these tools, we offer IT support to ensure you get up and running and maintain consistent operational efficiency. 

Marketing Initiatives 

As more home buyers enter the market, they need to be able to find you. This requires a targeted marketing strategy that boosts your visibility and reputation.

If you consider yourself marketing-savvy, this is your chance to shine. If not, we offer top-tier marketing support so you can concentrate on originating loans. 

Our team of professionals can strengthen your marketing initiatives with custom branding, website design, social media promotions, videos, and more. We’ll create a campaign that’s right for your branch and track its success so you know what’s working and what’s not.  

Customer Relationship Management (CRM)

Capturing new leads, nurturing them, and converting them into clients is a full-time job. Our fully-integrated CRM makes things easy for you by centralizing these processes. 

A CRM helps you boost engagement, collect and track client data, and enhance the customer experience. Because our CRM platform brings all these moving parts under one roof, you’ll never have to rely on manual recordkeeping again. 

Our Upfront Approval Guarantee 

What if you had the power to make your clients’ offers more attractive than other potential buyers? Our Upfront Approval Guarantee program makes this a reality by fully underwriting a loan prior to a sales contract. 

Access to this program makes MortgageRight a truly unique branch manager opportunity heading into a home-buying uptick. 

Diversifying Your Product Mix

To grow your branch and take advantage of a surge in demand, you need to be able to meet a wide range of client needs. You can expect new and repeat home buyers to come through your doors with unique situations and goals. You’ll also have buyers who need standard, conventional loans. 

MortageRight sets you up to support these clients with our diverse mix of mortgage products. No other branch manager opportunity gives you access to so many innovative product offerings. You’ll never have to refer a deal to someone else. 

One of the benefits of our product mix is you have the freedom to target a niche audience and boost your reputation with that audience. You’ll also have the power to provide innovative solutions that let you think outside the box. 

Even if you decide to target a niche, you’ll also have access to the products commonly used by first time home buyers, like FHA loans. We also offer products for tricky situations like non-QM loans, DSCR loans, and jumbo loans. 

Benefits of the Upfront Approval Guarantee 

In addition to our diverse mix of product offerings, MortgageRight gives you a chance to do something many other companies can’t. Our Upfront Approval Guarantee program goes beyond pre-approval to give your clients true buying power. 

The program works by fully underwriting a loan before a sales contract exists. This means your clients know exactly what they can afford and can shop around with confidence. Plus, it strengthens their offer by making them more attractive to sellers. 

The Upfront Approval Guarantee also benefits your branch. You’ll enjoy: 

  • Fewer delays in the closing process
  • An advantage over the competition
  • Client satisfaction and trust
  • Repeat clients 
  • A shorter lock period 
  • Streamlined loan approval 

When it’s time to grow your branch and capture more volume, our Upfront Approval Guarantee program will be invaluable. It’s the perfect way to set yourself apart and help your clients get the home they’re after. 

A Branch Manager Opportunity That Positions You and Your Clients for Success

With market changes upon us, MortgageRight’s platform provides the level of support you need to thrive. Start preparing your branch for a wave of first time home buyers and set yourself up for career growth and higher earning potential. 

Schedule a live demo and learn more about a branch manager opportunity with MortgageRight.

Ready to Start Your Own Mortgage Branch?

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