We know all the selling points. Heck, we can even see the allure.
“Lending made simple! Compare rates without ever picking up the phone! Do it all in the app!”
While the online and national mortgage lenders shout it all from the rooftops, we’re confident enough knowing that, yes, in fact, there are benefits to a big name behind your mortgage. But no number of Super Bowl commercials or (often unfulfilled) promises could outrank the value of selecting a reliable local lender for your home purchase.
Here’s why.
1. Personalization
While the national types will swear up and down about the flexibility and customization of their offerings, there is no replacement for a local, boots-on-the-ground lender who knows your new neighborhood as well—or better—than you do.
A local lender holds a richer understanding of the local real estate market, and can offer a level of attention and heightened awareness you won’t get otherwise. For example, a national lender may not know the average closing cost or typical down payment on your specific street. A local lender often has the macro and micro numbers at hand, giving you some added bargaining power.
The same goes when it comes to choosing your actual mortgage product: A local lender can sit with you over coffee and hash out all the different loan programs available, helping you pick and choose what’s best for you, rather than shunting all the research onto your plate and hoping for the best.
With the housing market what it is, and demand as high as it’s ever been, the element of speed is crucial. Lenders, agents and homebuyers need to be able to move quickly and pivot on a dime, as bidding wars often reward first movers.
2. Speed
With closer, more intimate relationships with local appraisers, underwriters and agents, local lenders often have the ability to expedite their processes and, with any luck, improve your chances of getting there first.
3. Community
The value of a local lender extends beyond the financial, all the way to the sentimental. As proud servants of the Charlotte community, some of our most indelible memories haven’t come from home closings, but instead, the relationships, community and events we’ve collected along the away:
- We put on the Dog Jog every Spring in support of our local rescue groups, with adoptable dogs right on site and plenty of opportunities for you (and your four-legged friend) to get your cardio in.
- Engaging with local leaders, we’ve helped raise funds for grounds rehabilitations and book drives to help beautify and improve the schools where our clients and their children live, work and play.
- Gift card raffles, vacation giveaways and so many more of the simple engagements with our client base have helped us create lifelong friends and customers.
The list goes on, and we obviously carry a hint of bias, but at the end of the day it’s almost impossible for a national lender to provide the level of service and care you’ll get from their local counterpart. Start your lending journey with us today, or grab us for a cup of coffee before you even start your home search. We’re glad to be a part of the process any way we can.
