Just because a certain bank is large and has brand recognition, it doesn’t mean that it is the best way to get a mortgage.
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There are a lot of ways to get a mortgage these days. You can go online, go to a credit union, or go to a bank (local or out of state).
What we have found is that if you use one of our local preferred lenders, you tend to get better results. Many who use large banks believe that they’ll have everything—they are large, after all. The truth is that the process large banks often use can be convoluted. It’s hard to get information, and if the smallest of problems arise, it can be a big issue to resolve.
If you use one of our local preferred lenders, you tend to get better results.
Sometimes, this can push a closing past the agreed-upon closing time, which can give the seller the option of voiding the contract. What if they’ve received a better offer? You may actually have to increase your price or let the property go
We have some preferred lenders right here in town. When problems come up, which they rarely do, we have someone we can go to directly. Usually, it’s within minutes or even a few short hours that we have answers to the issues so that we can get to the closing table on time.
If you have any questions about preferred lenders, please feel free to reach out to us.
