Mortgage Software for Refinancing
When you work with Clarity Quotes and input your clients’ mortgage information, our mortgage software does all the calculations for you. You can set it and forget it – we will run calculations every day to find out whether that day would be an advantageous day for your client to refinance.
In fact, you can set up an alert to let you know each day how the numbers look for your clients. You can control how many alerts you get, what you get them for and which clients you get them for. This way, you and your clients won’t miss any opportunities!
How Does the Mortgage Software Work?
Our goal in creating Clarity Quote was to make the task of monitoring saving opportunities for your friends, family, and past client database easier for you and them. On any given day, any number of clients can come to you asking if now is a good time to refinance. You can take the time to run the numbers, but we have an easier way.
Mortgage interest rates change every day. Technically, they change during the day as well. Our point is, mortgage rates are a moving target. If they’re falling, should your client move quickly, or wait to see if they fall further? If they’re rising, should they shelve their plan and if so, for how long?
With Clarity Quotes’ mortgage rate tracker, you’ll have the answers.
The Nuts & Bolts of Refinancing
The issue with determining whether refinancing is a good move for your client is that the factors at play can change, sometimes quickly. For instance, one important factor in deciding whether to refinance is whether the interest rate has fallen. A lower interest rate means your clients save money over the life of the loan.
But not necessarily. For each individual mortgage, a number of factors must be considered. That’s why we invented our mortgage software tool — if knowing when to refinance was easy, anyone could do it!
Your client may not requalify for a mortgage when they want to refinance due to a number of circumstances such as job loss, divorce, increased debt-to-income ratio or other scenarios. All this information must be gathered, and you must have a current credit score available.
When you factor in extra fees such as closing costs, appraisal, attorney’s fees, application fee and title search, that 1% savings might not be worth it to your client, especially if they are considering moving within the next five years.
Clarity Quote Simplifies the Process for You
There are so many variables to refinancing a mortgage. Calculating each one for each client takes time, and it’s easy to make a mistake. Depend on Clarity Quote for daily mortgage loan refinancing reports based on our proprietary mortgage software.