5 Reasons To Use A Local Lender When Buying a Home
The market is hot, and you're ready to buy. The first step is getting approved on your loan.
Below are five reasons why you should consider choosing a local lender when shopping for a home.
Everyone involved in the process, sellers, real estate agents, and you, the buyer, want the loan to close on time. Local lenders have a better reputation for closing loans on a timely basis.
2. Reputation, reputation, reputation
Local lenders and real estate agents have an incentive to provide you with excellent service because they want you to be a source of referrals for future business.
3. Personal service
You can meet your lender face to face and ask questions in person if need be; it is more effective for getting on the same page.
4. Local expertise
Besides knowing the area and local real estate market, a local lender will appear more attractive to certain home sellers and real estate agents because of the importance of a timely closing and a smooth process. Some sellers and real estate agents may not even consider offers from national banks or online lenders because of previous bad experiences, or because of the bad reputation some of these have.
5. Buy local, borrow local, help the local community
Most people are aware of the effect which buying locally produced goods or spending money on locally owned businesses has. The money recirculates within the community creating a positive effect. The same is true with using a local lender. Very likely the money you pay to a local lender will be loaned out to other local home buyers and businesses down the line.
NATIONAL BANKS CAN'T COMPETE
Most local lenders (Mortgage Loan Originators or MLO) offer better rates and terms over the larger national banks and credit unions. This is largely due to their ability to shop for investors to purchase your loan, thus allowing competition to drive down prices (or in this case, fees and interest rates).
Work with the best Lenders
Just as not all mechanics are the same, not all Lenders offer the same products and expertise. We have had the opportunity to work with several lenders, and have learned through experience which lenders shine above the rest.
HALLDORAN REALTY'S PREFERRED LENDERS
Dalila and the team are amazing people and great to work with. They made the process easy and will definitely work with them again in the future! Thank you all so much!! - Shaun - Santee, CA
Holly is the best!!! Great communication, a total professional. She got us an amazing rate and provided superb service! - Daniel M.
Holly La Barbera
Justin has assisted us as Brokers and buyers. His rates and services surpassed all expectations, and my expatations are high as a real estate broker! - Brendon Hall, San Diego
WE ENJOY HELPING BUYERS, BUT DON'T JUST TAKE OUR WORD FOR IT.
"I don't think I've ever trusted any business dealings I've had in the past like I have with you all. It was a blessing meeting and working with everyone of you and I thank you from the bottom of my heart."
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