As summer continues to roll on, theme parks across the country are packed with thrill-seeking adventurers ready to take on some of the largest and fastest roller coasters in the world.
Okay, so maybe all of the park visitors aren’t thrill-seeking; in fact, they may even be considered just the opposite and have a genuine fear around those wooden and steel beasts.
Although not readily apparent on the surface, this fear of roller coasters is a lot like the fear exhibited by credit unions that really want to experience the thrill of helping members with home ownership but are hesitant to take the plunge over that initial steep hill.
Are you or your credit union afraid of mortgage lending, and if so, why? It could be for a variety of reasons…
You might be afraid to offer mortgages because they seem big and scary, kind of like a roller coaster. But by giving in to this fear, you are missing out on thrilling your members and helping them with what is most likely the most important purchase of their lives.
You might be afraid of government lending (e.g., FHA, VA and USDA) because it seems complicated. While it can be a bit complicated at times, it’s nothing that can’t be overcome, especially if you have the expert guidance of an experienced mortgage partner. Don’t deny your members the opportunity to get a low down payment loan with flexible guidelines to buy their dream home.
You might be afraid to reach out to Realtors. After all, they may guide your member (or so you say) to another lender. This is very unlikely; but, aren’t most fears somewhat irrational?!
There’s a lot more you might be afraid of. However, if you succumb to your fears, you never get the rush of helping a member buy a home or making a meaningful difference in their lives. And, the opportunity to do those things should help you calm your fears.
So stop being afraid and start being a fearless mortgage lender!