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
Justin has assisted us as Brokers and buyers. His rates and services surpassed all expectations, and my expatiations are high as a real estate broker! - Brendon Hall, San Diego
Holly is the best!!! Great communication, a total professional. She got us an amazing rate and provided superb service! - Daniel M.
Holly La Barbera
BUYER HONESTLY TELLING YOU WHY THEY APPRECIATE HALLDORAN REALTY
"HallDoran Realty's broker was incredible to work with! He is knowledgeable, thorough, and very patient! Brendon went out of his way to take us to see properties on a moment’s notice and was honest and transparent about his thoughts on a property. He is kind, honest, and trustworthy. If we buy again we are definitely reaching out to Brendon!"
Buyer: San Diego, CA, $499,000
BUYER EXPLAINS WHY THEY CHOSE HALLDORAN REALTY
"Broker Brendon is simply amazing. Got my place WAY under asking and got everything closed within 2 weeks! I dropped my last agent in a heartbeat...he didn't take time for me. Then I met Brendon who took great care of me. He knows exactly what he is talking about and is a San Diego expert. Also very competitive and sharp with making the deals - definitely recommend!"
Buyer: San Diego, CA, $490,000
VA BUYER MADE A FRIEND WITH HALLDORAN REALTY
"Brendon Hall is the best broker I could have asked for.
He helped me purchase a home in 17 days on a VA loan!
He is diligent and when he says he is representing you, make no mistake he is representing you, not the seller or himself.
I never once felt as if he was in this for himself. It was all about my needs and what was best for me.
I don't believe I went one day without hearing from him. He kept me up to date and well informed throughout the entire buying process.
There is no way I would ever work with anyone else if I decide to purchase a home again. I trust his judgement. His ethics and character are beyond reproach and I highly recommend him and HallDoran Realty.
Even after the sale he still calls to check on things and ask if I need any assistance. He is my broker, but he has become a friend who I truly admire."
Buyer: Lakeside, CA, $470,000
TAKE THE NEXT STEPS
PURCHASE A HOME WITH US
No cost exceptional representation to you, the buyer.
First Time Buyer
It's your future, start with someone you can trust.
Buy Contingent Upon Selling
You found the right home, but need to sell first?
HAVE A QUESTION ABOUT FINDING A HOME?
Start with our local agents–they know Real Estate.