Think winning clients over is all about rates? Think again.

In a recent survey by the Federal Reserve Bank November 2014, researchers
found that changing the mortgage rate by 2

Low-mortgage-ratespercentage points would only have a 5 percent impact on housing prices in what buyers are willing to pay.

The researchers found that low down-payment requirements had large effects on how much people were willing to pay for a home, especially among lower-income and credit-constrained borrowers. For example, renters’ willingness to pay more for a home rose 40 percent when down-payment requirements were lowered from 20 percent to 5 percent, according to the study.

“This result implies that regulatory policy that targets loan-to-value mortgage qualification requirements will have the largest impacts on the most credit-constrained buyers, in particular younger renters with lower wealth,” writes Robert Dietz, vice president of tax and market analysis at the National Association of Home Builders, on the trade group’s blog.

So what does this mean for you? It proves that “The New Rules of Mortgage Marketing” are in full swing!

You’ll attract more potential clients with relevant content, educating them on “HOW” they can qualify with little down, challenged credit and non-traditional financing options vs. basing your whole platform on lowest rates and fees.

For clients within the target market for low-downpayment and credit-challenged, what they respond to is content that helps them understand how to qualify for a home even with their perceived limitations vs. “lowest rates.”

The takeaway?

Share relevant content to cast your net and capture your target market with information that educates and empowers. You’ll quickly be seen as a trusted authority and rates will become even less of an issue when you turn someone who thought they would never qualify into a pre-approved buyer!

Click here to read the study.