Can Social Media Channels Help With Buying Your First Home?
We use social media for just about everything these days. We use it to connect with friends, to find out what events are happening around town, and, most importantly for some, to get advice on what we should buy. Peer review sites are some of the hottest sites on social media, where you can find out whether or not something meets its claims straight from the horse’s mouth.
People frequently follow the accounts of their favorite brands on Instagram or Twitter, to see what promotions they might be running, what new products are coming out, or even to see how clever their tweets are. So why not use social media to pick a mortgage lender?
It’s Just Like Following a Social Media Influencer
At first, this may seem a little strange. Do you really want to follow a bank or lending institution on Facebook, Twitter, or Instagram? What could they possibly have to tell you? After all, your lender is probably not coming out with any groundbreaking new products, and while your lender may surprise you, mortgage loan companies aren’t necessarily known for their witty Twitter banter.
The principle behind following lenders on social media is the same as the principle behind following any influencer or brand, really. It’s an opportunity to learn more about the company you may be working with before you commit to it. And while they may not offer “promotions” per se, you could be the first to know when a lender is offering a very competitive new interest rate for qualified borrowers.
Using Social Media to Your Advantage in Mortgage Lending
It is rarely wise to jump right in when you are seeking a mortgage. There may be opportunities to improve your credit rating from the time you decide you want to buy a home to the time you actually apply for a mortgage.
While you’re paying down credit cards or taking other steps to bump up that score, there’s no reason to sit around twiddling your thumbs. Explore which of your favorite potential lenders have social media accounts or blogs, and make it a point to check them out every week or so.
You could learn a lot about what they are looking for when considering offering a mortgage loan, what you can expect from your relationship with that lender, and even the size of the mortgage loan you can realistically expect to obtain. If you’re lucky, you may even catch a representative of the lender active on social media at the same time you are. They may be available to answer questions you may have about your mortgage loan – right then and there, live!
Finding Lenders to Follow on Social Media
Of course, the first question you have to ask is “where can I find lenders to follow on social media?” OnlineLenderSearch.com can help with that. With Online Lender Search, you just answer a few simple questions about your credit score, the type of property you’re looking for, and some other basic information and you’ll get connected with multiple lenders who can help you find the best possible rate.
Once you find a lender you like and have obtained a mortgage loan, you might consider posting your own social media reviews about your experience, either on your lender’s social media account or on your own. You’ll earn the appreciation of your lender and probably make friends with some new prospective homeowners as well!
