How to use the “Skip the Bagel” presentation to deliver value and build trust!

Christine Strategies


Mortgage Coach is all about helping you become a trusted advisor to your clients and partners by enabling you to provide authoritative advice. The goal is for you to WOW your clients and differentiate yourself from all the other loan officers out there who have same rate & fee conversation with every borrower. That’s why I LOVE the “Skip the Bagel” presentation.

“Skip the Bagel” is based on the principal that by looking at the seemingly small things in life that you spend money on—Starbucks, fast food, happy hours, your cable bill, etc.—and shifting the few dollars per day that you spend on one of these purchases, you can make a huge difference in achieving your financial goals a lot quicker.

Rarely do most people think about these small purchases and how by making a slight change in our habits we have power to impact our destiny.

So what is the first question a borrower asks you?

“What’s your rate?”

What’s your response?

“That depends. How long do you plan to have this loan?” Every loan officer asks this question.

What not every loan officer does is show the total cost of the loan over that period versus another loan. If you’re not doing this, you need to start.

Now the best loan officers ask:

“How old do you want to be when your mortgage is paid off?”

What’s their response?

“Well, I’d like to be 55.”

Your response:

“Well, based on this loan, how old will you be?”

Generally there’s going to be a 5 to 10 year gap between how old they want to be and how old they actually will be.

Now this is where you come in and deliver value. Ask them about their habits. Are they spending money on Starbucks or McDonald’s regularly? What if they took that same $5 per day and shifted it into their mortgage? $5 per day is $150 per month.

Let’s apply the principal to an example: the national median home price of $214,200 (30 YR. Fixed, 4.25% interest, 20% down).

By shifting just $150 per month towards principal, they will save $38,000 over the life of the loan. But even better, remember how there is generally a gap of 5 to 10 years between when borrowers would like to have their loan paid off versus what the reality is? Problem solved! They’ve just converted their loan from a 30-Year Fixed to just over 22 years. You’ve helped them shave nearly 8 years off their mortgage. Bam! Now that is a valuable insight!

You can apply the same principal to both purchases and refinances. Also, it’s a great conversation piece to use when you do an “Annual Mortgage Review”.

If you need help creating this report, check out the “Turbo Tip” below:

Happy hunting!