Timdavisonline (00:02.338)

Hey, hey, what is up everybody? Tim Davis over here, the originators guide.com your home of your coaching tip in under three minutes or less. And today we're tackling the conversation ever lone officer faces out there today. It's rate objections, right? And I want to talk to you about how to respond with confidence and shift that conversation to what really matters. Right? So here's the truth. If you let the conversation stay focused on rates, you're going to be playing on defense and that's not where you want to be. Yeah.

Timdavisonline (00:30.998)

Rates are part of the mortgage, but they're not the whole story. So when your client says, I'm looking for the lowest rate possible, here's some ways that you can confidently guide that conversation. Number one, you want to acknowledge and then reframe, right? So you start by acknowledging their concern so it shows that you're listening. So for example, you can say, totally understand wanting the best rate. That's certainly important. But let me ask you, is the lowest rate your biggest priority or are you looking at the best over?

Timdavisonline (00:58.838)

overall fit for your financial goals, and even more importantly, the best monthly payment that you can afford. Because at the end of the day, people shop payments. That's what they're really asking you is like, how low can I get my payment? Everything's so expensive these days. Milk, bread, eggs. I got to have a great payment. Then number two, you can shift to the cost involved and

Timdavisonline (01:21.546)

actually how the payment is gonna work out, right? So maybe there's a way that you can structure the loan with a little higher rate that maybe includes upfront mortgage insurance, right? Or it's rolled into the rate, in other words, and that provides a lower monthly payment than if it's financed on top of the deal, right? So maybe that's a way. Maybe you can use discount points paid by the seller to permanently buy down the interest rate so that the payment is lower, right? That's where we wanna be. That's what they're looking for is the payment, right?

Timdavisonline (01:49.006)

And then number three, share a success story, right? Talk about a previous situation where maybe you used discount points paid by the seller to lower the interest rate, maybe a whole percent or more. And that resulted in a $472 lower payment for the client, right? But most importantly, I want you to end with confidence. So when you make your presentation, as you wrap it up, you want to say, hey, does that make sense? Right? I mean, I want to make sure, here's what I recommended based on your goals.

Timdavisonline (02:17.102)

Right? So let's make sure this mortgage fits into your life, not just your interest rate expectations. Right? You want to make sure you end with confidence. We're going to get these rate objections, right? And certainly people are out there. You see them all the time. They get a lower rate and they pay these exorbitant cost. You want to get in front of this. And that's the way to go about doing it. If you want to learn more about how we're handling objections for rate and actually getting more clients in the door, our coaching program is running a special. It's only $1 for 30 days. mean,

Timdavisonline (03:13.086)

Heck, I'm sure you could afford that. But you get involved, meet every Monday. We talk about scripts and marketing and all the great things that we're using to grow our business. We would love to have you a part of that. If you're interested, check out theoriginatorsguide.com. But until that day that you join, make sure you do one thing. Find that one loan each and every day. So go have a successful day. Find that loan, get it locked in. Keep listening to the show. Refer us to your friends and I'll talk to you guys real soon. See you. Bye.