C.H. Brown - April 2022

Brokers may be some of the most financially literate individuals in the world. After all, how can you guide your clients to the best loan options, ensuring they will seek your services again, if you don’t understand the basics of credit, loan servicing, and personal finance? However, it’s easy for brokers to fall into “the jargon trap.” They may think they are providing their clients with sound advice, but all they hear is the teacher’s voice from “Peanuts”! In honor of Financial Literacy Month this April, our team at CHB compiled our best guidance for borrowers. BY PROMOTING FINANCIAL LITERACY You Can Cultivate Lasting Relationships

One-Pan Chicken Tacos

Inspired by TasteofHome.com

INGREDIENTS • 1 lb chicken breasts,

• 2 tbsp chipotle powder • Canola oil (for frying) • Corn tortillas • Grated cheddar cheese • Pico de gallo and guacamole salsa (to taste)

sliced into 1-inch pieces

• 2 tbsp garlic powder • 2 tbsp cumin

DIRECTIONS

1. In a mixing bowl, combine the chicken pieces, garlic powder, cumin, and chipotle powder. Mix until the chicken is coated. 2. In a frying pan, heat the oil. When the oil is hot, add the chicken mixture. Cook on medium heat for 5–8 minutes. 3. Remove the chicken from the pan, and add the corn tortillas (avoid overlapping) so they soak up the juices. Flip the tortillas and repeat. Then, add chicken and grated cheddar to each tortilla and fold it over the filling — in the pan. 4. Cook the tacos for 3 minutes per side until the tortillas are crispy and the cheese is melted. 5. Top with pico and guacamole salsa, and serve!

Share these explanations with your clients to develop a lasting relationship that’s mutually beneficial!

Balancing credit with budgets. Nearly everyone understands that a credit score can dictate the total

amount of a loan provided to a client. However, there can be some misunderstanding

about what a client can qualify for and what they can actually afford to pay.

Take a Break

As you know, a client’s income is also factored into a loan application, which can dictate what a provider is comfortable doling out. But it’s vital that you discuss budgeting with your clients. Just because they qualify for a high loan amount, this does not mean paying for that loan will be feasible for them. Disseminating common terms.

Most borrowers understand that the interest rate on their loan is the added percentage amount they will pay back in addition to the loan. However, this is commonly confused with the annual percentage rate (APR). While interest rates are the percentage at which the entire loan will accrue more debt over its lifetime, the APR provides the total of that loan with the added interest rate over one year. Both can be used to help a borrower determine if a specific loan is best for them. By not relying on one figure alone — interest rate versus the APR — your client gets a clearer picture of what they will owe over one year and the lifetime of the loan. There are some financial questions that are specific to clients and cannot be answered with blanket definitions. Please contact CHB for specific requests and questions regarding your clients.

BLOOM CLEANING EARTH EASTER

FLOWERS FOOL PRANK RAMADAN

RECYCLE SPRING TEACHER VENUS

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307-322-2545

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