3 Texts to Send to Spark The Refinance Conversation

3 texts to spark the refinance conversation

As rates start to come down, the refinance wave is coming.

Past clients will be looking to improve their current mortgage rates. You don’t want to miss out on reworking your database. Email and SMS touchpoints are crucial for staying top of mind. A study by Freddie Mac found that 41% of mortgage borrowers used the same lender for their subsequent home purchase so it’s crucial to re-engage past clients as soon as possible.

A simple yet strategic approach through mass text messages can open the door to discussing potential refinancing options.

Here are 3 texts that fellow lenders can consider sending to spark the refinance conversation:

“No matter how recently you purchased your home, rates have dropped and refinancing likely makes sense. When is a good time to connect? – Name with Team Name’”

Here we’re acknowledging the shifting market with an awareness that many borrowers may have locked in extremely low rates in the past couple of years. Still, this text subtly nudges clients to consider how that these shifts might benefit them, prompting them to think about exploring refinancing options.

“Would love to discuss how a refinance might better align your current mortgage with your financial goals. When’s a good time for you? – Name with Team Name”

Here we emphasize a personalized approach focused on the client’s financial objectives. It’s the new year, so financial goals and budgets are top of mind. By expressing a desire to align their mortgage with their goals, it shows genuine interest in their well-being and opens the door for a more tailored conversation.

“We’ve had several clients save on their monthly mortgage payments. Let’s explore how it could work for you too – Name with Team Name

Sharing success stories creates relatability and showcases the positive impact of refinancing. It entices clients by highlighting the potential benefits without pressuring them, fostering curiosity and readiness for a discussion.

Pro-Tip: Use a software like CANDID to create a list view of all Prospects in Lost to Lender status. Sort by Last Modified Date, most recent to latest and get in front of clients who may be ready to use another lender. 

Current market conditions present a prime opportunity for lenders to capitalize on the upcoming refinance wave. Reconnecting with past clients through strategic email and SMS touchpoints is essential for staying top of mind. A software like CANDID can help organizing prospect lists ensures a focused and timely re-engagement strategy on a mass scale.

By leveraging these strategies, lenders can position themselves to make the most of the evolving mortgage landscape and foster meaningful discussions with clients seeking to optimize their mortgage rates.