Incorporate simple target advertisements such as "Should you consolidate your Debt?" and "See how much equity you have in your home" throughout your web site along with direct access to the Ignite's Home Equity Customer Relationship Guide and net 10X in new applications. We are running a marketing special right now. Click here to take advantage of this offer. Sign up now to receive MoneyTrends right to your email box once a month and be the first to know. Stay on top of financial trends as they happen.
At a time when consumer spending is under the microscope, everyone from the Chairman of the Federal Reserve to local retailers is interested in the financial attitudes and behaviors of individual Americans. When it comes to getting and using home equity loans, most consumers who use online financial Web sites act conservatively.
How do your findings compare?
- Home equity borrowers cautiously seek to borrow much less than the available equity - requesting loan amounts on average less than 40 percent of the equity in their homes.
- In the northeast, reducing debt is more important than remodeling and other spending to the majority of home equity borrowers.
- The size of requested loan amounts average 24 percent of the total value of homes.
- Most likely to apply online:
- Single females with income under $75K use funds to pay debt and improve their home.
- Males with income of $90K use funds for debt payoff and home improvement.
- Males are twice as likely as females to want to know what peers are doing financially.
The content contained in this news brief is drawn from Ignite Financial's anonymous database of thousands of unique visitors to various financial institution web sites. By collecting and analyzing online user data, Ignite instantly generates current reports to its clients without compromising the personal financial information of the individuals. Ignite's Customer Relationship Guides allow financial institutions to convert Web traffic to immediate revenue by matching customers with products at the customer's time of need, while also predicting future purchases using powerful, back-end marketing engines.
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