With their laser focus on the 55-and-older market, I wonder if home builders and developers might be overlooking an emerging niche: singles.
Combining Mortgages, Marketing
Homestar Mortgage Services' National Builders Program provides market, competition, customer service and feasibility studies.
Homestar Mortgage Services' National Builders Program provides market, competition, customer service and feasibility studies; on-site sales training; and various technology-based services aimed at stretching builders' advertising and marketing dollars.
"We act as an extension, a second marketing arm, for the builder," says Kelly Allison, vice president of the National Builders Division. "Our technology is a huge advantage we have over other mortgage companies."
That technology lets builders check on the status of customer applications through a Web site. In addition, Home-star offers a "Builder Guarantee" to turn around all loan applications within 72 hours. Once the loan is approved, Homestar will pay the builder's daily interest carry for every day the loan doesn't close. Allison says these program aspects "give control back to the builder."
The 13-month-old, fee-free program currently serves more than 50 public and privately held builders through joint ventures or as clients of Homestar Mortgage Services.
"Our program serves both sides of the coin," Allison says. "From the technology side to the marketing side, the program captures the builder who does 10 homes a year as well as the builder who does 2,000 homes a year. Our hope is that we're providing builders with a unique service that brings them added value and dollars back to their bottom line."
To learn more about the program, call 866/BUILD-HS or visit www.homestar.com.