If you are financing a home it is extremely important to work with a trusted lender during the transaction. This will ensure that they will do everything in their power to help you finance the mortgage and complete the transaction. During this time you have the opportunity to work with either a commercial or local lender. It can be challenging to decide which lender you would like to work with, especially if you have an account with a commercial bank.
However, here are a few benefits from working with a local lender:
Local Lenders understand the market. This will give the lender a unique insight into the value of the home and the appropriate amount you should finance it for. A commercial lender could be working in a completely different state or country and not have the adequate knowledge of the property value.
Local lenders are locally connected. They are well known in the local real estate industry and have experience working with the different real estate companies. This will help ensure that the transaction flows smoothly and you don’t encounter any unnecessary delays.
Local lenders have the ability to meet with you in person. This is one of the biggest advantages. Having the service of being able to communicate with an individual in person rather than having to call a 1-800 number is much easier. This will also allow for you to contact them quickly or stop by their office any time you may have a question or concern.
Local lenders value YOUR business. These lenders value creating and building relationships. They will work as hard as they can to provide you with exceptional service. This will help their company grow by creating a reputation and receiving referrals.
Please contact The Lester Group for a list of local lenders!
Written by: Ross Bonilla