The Lindley Team at Mortgage Express | 503.517.8641
We’ve talked about the steps you need to take before you start house-shopping. We’ve told you why you should get pre-approved (not just pre-qualified) before you step foot in the first open house.
Today, we’ve got a list of seven reason why you should start your mortgage process with a local lender instead of a national big-name business.
Buying a House? 7 Big Reasons to Call a Local Lender
Look at it this way. You’re on the phone with a loan officer from a big, national corporation. They’re going to have a lot of questions right away. They’re going to want to know about your finances and they’re going to want to know about the area you wish to buy your future home.
If you’re lucky, this national giant will have agents who specialize in regions, so they might only have to sift through a few states worth of regulations and numbers before they get to the info that matters for you and your mortgage.
Or, you could sit at a desk, face to face with an expert who sits in an office in the state (even the county or city) where you plan to buy. They don’t have to “look into it” to start your case. They already know it.
Local lenders work with people buying houses locally all day, every day. They’re probably serving your future neighbors!
Nothing is more frustrating than thinking you’re well on the road to the house of your dreams and hitting a roadblock caused by a big name national lender who was unaware of a law or guideline in the specific area you need a mortgage.
When you call, you won’t be one file out of a billion. Even if the person who answers the phone isn’t your contact at the local office, they’ll know who is and get you to them right away.
Your contact will know you when you talk to them. You won’t have to spend half of the conversation repeating your personal information just so they can figure out who you are. With a local lender, every conversation will be a comfortable step forward in your process.
Buying a house involves a lot of people. From the buyer (you!) to the lender to the realtor and beyond, the process of obtaining a mortgage takes teamwork, and referrals are a big part of the game.
Referrals are more important to local businesses where people are likely to put more trust in a business that comes from another professional they already trust.
Speaking of teamwork …
Need an outside source on something? They already know just the guy. Need to know which schools in the area are best? They might have kids who go there. Need to know which local restaurant has the best pizza or wings? You might start an argument in the office, but you’ll get options.
If you look at a local community of businesses and consumers as a giant team, you’ll understand why each separate team member wants to work well with the others. They’re all part of the same game.
A national giant has no stake in the local game.
Business like local mortgage lenders are still local businesses and their success flows right back out into the very community where you’re buying your home.
A quick google search will find countless stories of hopeful buyers who end up losing their dream home because the seller could no longer approve a national giant’s extensions. The seller doesn’t have to wait and there are always other buyers waiting in line. Sticking to a timeline is a big deal.
Even if you’re worried that your financial situation isn’t as ready as you are, let us take a look. If you’re not ready, we’ll work with you until you are.
We’re going to make a great team.
Not a commitment to lock or lend. Terms and restrictions apply. Not all applicants will qualify. Mortgage Express, LLC. NMLS Company ID: 40831 | www.mtgxps.com | Licensed in OR/WA/CA. Licensing in CA by the Department of Business Oversight under the Residential Mortgage Act. Mortgage Express is an Equal Housing Lender. Questions and concerns may be directed to firstname.lastname@example.org, or 10260 SW Greenburg Road, Ste. 830, Portland, OR 97223.