Owners with Multiple Mortgages
If someone has multiple open mortgages for their property, they may be paying a high interest rate.
As a lender, this owner is appealing because they may be interested in refinancing for a lower interest rate on these mortgages.
To find owners with multiple mortgages, you can search a custom Number of Open Mortgages (under "Mortgage Info" dropdown).
Pro Tip: If you want to target your search further and find homeowners with high equity, apply the "High Equity" Quick List in addition to the custom number of open mortgages.
Owner-Occupied Properties Currently Listed on the MLS
Since these homeowners are listing their current property, they may need financing to support the purchase of a new property in the near future.
To find owner-occupied properties currently listed on the MLS, apply these search filters:
Owner Occupied (Yes) + MLS Status (On Market)
Pro Tip: Apply the Bankruptcy or Lien Quick List in addition to the above filters to find homeowners who may need a private or hard money loan.Homeowners With Adjustable-Rate Mortgages Within the Adjustable Period
With the Fed gradually increasing interest rates, an owner with an Adjustable Rate Mortgage (ARM) may be interested in converting to a fixed interest rate to lock in a set payment each month. This creates an excellent refinancing opportunity for lenders.
To find homeowners with adjustable rate mortgages, choose Adjustable Rate under the "Interest Rate Type" dropdown (find this under "Mortgage Info" in the main search menu).
Homeowners With High Interest Rates
If a homeowner has a fixed interest rate percentage that’s higher than current interest rates, they may be interested in refinancing.
With PropStream, you can add a minimum and maximum interest rate percentage to find these homeowners in minutes.
To find homeowners with high interest rates, enter a custom interest rate percentage under the "Mortgage Info" dropdown.
Homeowners With Specific Loan Types
Depending on your lending services, there may be homeowners with specific loan types you want to target (e.g. Conventional, FHA, VA, Commercial, etc.).
To target specific loan types, go to the "Loan Type" dropdown under "Mortgage Info."
Tip: You can select as many or as few of the 9 Loan Type options in PropStream as you want when you perform your search!
Rental Property Owners Who Have Paid Off a Property
When a rental property owner has paid off their property, they may be ready to start renovating it. If they don’t have the money saved up for their renovation but have built up equity with the property, they may need a short-term construction loan to finance it.
If a rental owner invests in multiple properties, they may be ready to invest in a new property once they’ve paid one off.
To find rental property owners who have paid off property, combine the "Free & Clear" Quick List with a custom number of properties owned.
Tip: You can also use the "Linked Properties" feature on the Property Details page to uncover rental property owners with several properties.
Fix and Flip Investors
Since flippers typically look for a quick turnaround on their investment, a short-term fix and flip loan may be exactly what they're looking for. This makes them an ideal target demographic for private and hard-money lenders.
To find flippers in PropStream, use the "Flippers" Quick List.
Buy and Hold Investors
Rental owners are often on the hunt for their next investment.
If you can find a rental owner with several properties who haven't been buying in cash, you may be able to catch them before they finance their next property.
To target buy and hold investors, apply these search filters:
Non-Owner Occupied + Multiple Linked Properties (or just search for Multiple Properties owned by the same person)
Exclude Cash Buyers
Cash buyers will not appear in your search results when applying this filter. If you’re trying to find a homeowner likely to finance, you'll find it helpful to confirm that they have a financing history.
While a cash buyer may need to finance at some point, they’re not likely to take out a loan if they can pay in cash as a cash transaction is quicker, easier, and less expensive over time.
To exclude cash buyers from your search, choose the "Exclude Cash Buyers" option under Mortgage Info.
