Analyze the 2 customer scenarios provided below by answering the following questions.

Scenario 7: A married couple, Chris and Aidan, wants to purchase their very first home. Neither has purchased a house before. They do not know what the process is to apply for a mortgage loan with the bank. They are also not sure where to find the information. You have noticed that they are being indecisive about what they really want. They keep asking you for more information. They seem nervous about this purchase and seem to be really close to getting up and leaving.

Questions:

• What types of questions could you ask to help Chris and Aidan focus on what they need, and how you can help?

• How can you get a sense of their urgency and commitment?

Scenario 8: Raey has returned to the U.S. from active military duty, and has decided to settle down in his home town of Springfield, MA. He has been house shopping for a while and has finally come to an agreement with a seller. Both parties have signed a Purchase and Sale Agreement for a price of $150,000, and now Raey is in the process of applying for a mortgage. He wants to take advantage of every opportunity that he can for securing a favorable mortgage rate and terms. He has saved about $15,000 for a down payment. In addition, he has been making his credit card payments on time; the last time Raey checked, his credit score, it was 700. He is extremely excited about his home. However, often his excitement overwhelms him, he speaks excessively fast, and he misses a good deal of what you are saying.

Questions:

• How would you analyze the customer situation? What questions would you ask or what material would you provide to Raey to assess the most appropriate product(s) for him?

• What type of mortgage loan would you suggest that he look into (hint: it is one of the types listed in the Product Research section above that is specific to veterans)? What are the advantages?

• What are some of the requirements that have to be met for this loan type?