Unless your client is buying, say, a superyacht or rocket ship, a home will probably be the biggest-ticket item they’ll ever purchase. Considering the dollar amount that some California homes can go for, it’s an especially nerve-wracking issue. Even just considering one’s financial plans for upwards of 30 years can be daunting. If your clients have reservations about how to plan and secure their mortgage, or if the cavalcade of numbers and percentages is making their heads spin, CRMLS has tools to help calm their concerns and make financing less intimidating.
When a listing only advertises the asking price, a client only sees a huge number without any concept of how or if they can afford it. RatePlug helps market the real cost of the property, with mortgage information that plans out monthly payments and can provide answers to common “what if?” scenarios. Embedding RatePlug info on your listings helps turn homeownership from passive fantasy into active reality, as potential clients can get a better picture of real costs and see what lending options are available to them. It can also be an incredible time saver for agents, as RatePlug can research a property’s eligibility for financing programs like FHA, VA, or USDA, thereby increasing the potential buyer pool. It’s the customizable financing tool that makes your listings all the more accessible.
RatePlug is available at no additional cost to all CRMLS users, and you can learn more about its features in our Knowledgebase.
While getting a good mortgage rate is important, the biggest hurdle for some clients will be the initial down payment, as it’s a lot of money to part with all at once. That’s why CRMLS offers DPR, which tracks hundreds of California homeownership programs (and thousands nationwide) through its finance agency partners. DPR can then automatically match these programs with eligible buyers, offering them crucial assistance for their financial planning. You can also easily enable DPR on your IDX sites, so potential buyers can see how accessible financing options can be. It’s a dynamic tool that helps ease your clients into homeownership and relieve them of the anxiety and burden of their down payment.
DPR is a core product available at no cost, and you can find guides on how to use it in our Knowledgebase.
Mortgage Calculators
Whether you’re on the go with your clients or are taking questions from prospective buyers at an open house, sometimes you need to do some quick calculations while you’re in the field. Many of our mobile-friendly apps can help you with the nitty gritty of providing payment figures in just a few clicks. You’ll find mortgage calculators in MLS-Touch, Paragon Connect, and, of course, the ever-useful CRMLS App. Don’t get caught off guard with financing questions, and make sure to always keep a mortgage calculator handy.
Money issues are never fun to discuss, and the anxiety around putting so much money down or signing up for a long-term loan can stop your client’s home buying journey in its tracks. Ensure that they feel safe and secure in your capable hands with all the CRMLS tools available to you. You’ll be a financing hero there to save the day while saving your clients’ money.
