June 22, 2023 | By RGR Marketing Blog

Summer Mortgage Refinance Pros (And Why 2023 Is No Exception)

buy Mortgage LeadsSummer is a time for backyard barbeques, relaxing by the pool, and for taking well-earned vacations. But for many of your mortgage clients, summer might also be the perfect time of year where they might want to think about refinancing their home loans.

Understandably, the interest rate upheavals over the last couple of years has probably sidelined many of your refinance prospects from taking the plunge, but that’s not to say that there aren’t some who can still benefit from it. So, targeting these homeowners through your summer marketing campaigns will help improve your refinance applications.

Here are some of the best reasons to refinance a mortgage in the summer, even in 2023.

Refinancing to Pay for Home Improvements

Summer’s long days and stretches of dry weather make it the perfect season for making home improvements. But depending on what type of home improvement a homeowner is looking to have done, some can cost far more than what they have available in their savings.

As a result, refinancing via a cash-out refinance can give the homeowner access to the funds they need to pay for their project. Even in cases where the new interest rate might be slightly higher than the previous one, choosing the right home improvement project can increase the home’s market value, making the decision a worthwhile one.

This is especially the case in having a solar system installed. By refinancing to pay for a solar installation, a homeowner can enjoy a sizable increase in their home’s market value and save a lot of money on their summer energy bills.

Refinancing Into a Loan That Better Suits Their Needs

Life is nothing if not unpredictable. Sometimes things happen in one’s life that can greatly impact their finances, or their finances might improve and make them want to take a faster track to paying off their home.

From refinancing into a cash-out refinance for access to needed funds or for paying off high interest debt to refinancing into a new loan with shorter terms, refinancing can often provide many homeowners with practical solutions that can suit their needs.

Refinancing for Investment Purposes

It takes money to make money. For homeowners that want to start investing in real estate or other areas, it can often require more upfront money than they might expect. Refinancing a home is an easy and effective way to get the money they need to start investing in the things that not only interest them, but that also hold the promise of future wealth generation.

Refinancing to Save Money

While it’s true that interest rates remain higher than they have for some time, there are still some homeowners out there who may be able to refinance into a mortgage with a lower rate than what they’re currently paying. This is especially the case for homeowners who have dramatically improved their credit scores since closing on their homes. At the end of the day, if your client can secure an interest rate reduction of just 1%, then refinancing can be well worth it.

Find Highly Targeted Mortgage Refinance Prospects with RGR Marketing

Even though the refinance market has cooled off over the last few years, it doesn’t mean that there aren’t homeowners out there who can benefit from refinancing this summer. The key is to find them and connect with them. At RGR Marketing, we have more than 20 years of experience providing mortgage companies with mortgage and refinance leads that are close to making their decisions.

We can provide you with highly targeted mortgage refinance leads in your area. All our leads are also verified and validated using our proven process, which helps improve your lead conversion efficiency and reduces wasted resources. If you’re looking to partner with a lead vendor who can help improve your refinance closings, then contact RGR Marketing today and discover the difference in quality our expansive market reach, proprietary lead-based matching technology, and top-tier customer service can bring to your mortgage refinance leads.

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