Closing Costs – E.J. Farge

Residential Home Funding serves the Atlantic coast from NY/NJ to Florida, and I am branch manager of 1 of 2 Georgia Branches. Often people ask “what are your closing costs?” Typically they are the legal, title insurance, state taxes and lender costs. Our lender costs (including loan origination, processing, underwriting, locking and delivery of funds are $1665 (for a home costing $50K or $1M. Where we shine is when the borrower fits our “mortgage champion” definition – that is a person in the health care, education, police & fire protection or local or state employee. Their lender costs are reduced to zero. If one asks “does their rate rise to compensate” the answer of NO. I’m an excellent referral for a teacher aide or nurses’ aide who wants a home but has limited resources. Ask for EJ Farge and mention “mortgage champion borrower.”

6 Responses to Closing Costs – E.J. Farge
  1. Wendy Kinney
    August 16, 2018 | 3:54 pm

    1: Story. Red card.
    P The teacher’s aide’s problem
    A your action
    R the teacher’s aide’s result
    (the result can’t be that she got the loan. Of course she got the loan, or you wouldn’t be telling this story. What is the result of her getting the loan?)

    2: HOW – the Green card is WHO (teacher’s aide) + HOW (a behaviour we would see).
    2a: We can’t see a want wants a home
    2b: and we can’t see limited.
    What would we see that would let us know a teacher’s aide wants a home.

    3: Commander’s Intent – the Gold card
    The teacher’s aide is the Commander. What result does she want from a home?
    Does she want to
    mow the lawn?
    fix the hot water heater?
    host Thanksgiving dinner?

    4: Kindling Question
    How can we BEGIN a conversation with her?
    (Hint: it will not
    ever be about a mortgage. Ever.)

  2. Clay Jeffreys
    November 5, 2018 | 4:33 pm

    Going off of Wendy’s comments on the GREEN card and how to see “limited.” What about:
    1. Drives an old car
    2. Wears a dated clothes
    3. Always brings their lunch to work

    Platinum: I am not great at these, but I’ll try some:
    1. If your infominute is on qualifying, maybe for healthcare the kindling question could be “have you ever had an annual financial physical?”
    2. Teacher – again, you are wanting them to think/plan ahead so the question could be “How early do you suggest your students begin studying for one of your exams?”

  3. Jason Conn
    November 7, 2018 | 10:31 am

    I believe the best focus would be to dive deeper and remove the first and last sentence. The ‘mortgage champion’ seems to be an in-house marketing thing that I don’t feel will resonate with team members…they want to refer business to you and not your company or for a specific product name.

    Maybe play with something like this:
    Today I’m looking for an introduction to your local firefighter, Ron. When he receives the pumpkin bread you take to the firehouse this weekend, ask him if he takes advantage of free or discounted meals for firefighters in the community. Let him know that you know of a lender who just saved a firefighter over $1600 in a new home purchase.

    I’m not crazy about the platinum card…but feel the green and gold are decent.

  4. Chris Coulter
    November 7, 2018 | 11:03 pm

    I didn’t understand the point of the first sentence about being a branch manager. love the mortgage champion but instead of detailing what the costs aretalk about specific dollar amount savings how would you know they have limited resources. or how would I know?

  5. Rodney Shaffer
    November 12, 2018 | 3:06 pm

    How about this suggestion for a green / gold / platinum combo:

    I’m a great referral for your teacher friend Brandon. Brandon loves to cook and frequently posts fun recipes on FaceBook. He dreams of hosting a holiday party in his own kitchen. Ask Brandon what cool kitchen appliances he would buy with an extra $1,500. Then connect him with me….

  6. Vance Blew
    November 13, 2018 | 5:11 pm

    Be Specific. Pick one kind of person you’re looking for an introduction to. Following on the Teacher’s Aide. Green and Platinum could be this.
    When you pick up your child from the school you always see Betty,the teacher’s aid, who does not have a wedding ring on, there with her young son every day helping out. Ask her what their plans are for the holidays?

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