You may not see their commercials on national TV, or their name on an NBA arena, but when it comes to finding a mortgage lender to finance the purchase of, or refinance your home, locally based companies offer a lot of benefits. It used to be that huge, national mortgage companies could only offer services like online applications, customer service, and more; but today small and medium lenders can all offer these resources and conveniences with some additional benefits. While national mortgage companies can boast more locations and brand recognition, they generally lack in the personal touches that local lenders provide for exceptional service. Here are a few benefits that local mortgage loan officers and companies can offer.
Easier Access and More Attention to Your Loan Officer
Because local lenders service home buyers in a specific geographic area, you can work directly with your own specific loan officer. When you aren’t just a number you can expect the service that you deserve for the best possible outcome. This personal access and face-to-face interaction can alleviate much of the anxiety that can accompany the home buying process.
A Commitment to Maintaining Their Reputation in Mortgage Lending
For smaller lenders, one unhappy customer can do a lot of damage. Today, reviews, ratings, and testimonials have never been more important. This motivates these companies and loan officers to provide the highest level of service for their clients. Great service, problem-solving skills, and a personal touch can go a long way in earning repeat and referral business, so it is in these lenders’ best interest to provide them.
Potentially Lower Mortgage Rates
Local lenders are often able to provide lower interest rates than their major, national competitors. With varying market conditions, local decision-making from these lenders can potentially offer better rates, which can save you thousands of dollars.
If you are considering buying a home, or refinancing your current one, Standard Mortgage has been finding local solutions for over 90 years.