Finding the best lender to finance your home is one of the
most important decisions you can make throughout the homebuying process. Since
this will be one of the bigger purchases you make in life, deciding who should
help finance your home shouldn’t be taken lightly. It’s important to choose a
mortgage lender who is trustworthy, experienced and has a team of seasoned
mortgage loan officers. Unlike any online lender, a mortgage banker is a live person
prepared to personally manage your loan and look out for your best interest,
something a computer cannot do.
So why might someone choose a local mortgage banker over an
online lender? The answer is simple: they offer a personalized service with the
goal of customer ease and care.
1.
Personalized Service
A locally owned and operated
mortgage lender with a team of experienced mortgage banker, appraisers, and
underwriters is the best possible scenario when trusting someone to help you
finance your home. Providing personal financial documents to someone outside of
the family may seem like a daunting, invasive task, but with a local mortgage
banker, you can rest assured that your personal information is safe in the
hands of trusted experts in the mortgage field. When working with a local mortgage
banker, all your financial documentation remains in-house during the processing
of your loan. The advantage of in-house processing is the streamlined, efficient
system in place that retains full control over all aspects of your loan.
2.
Extensive Knowledge of the Local Market
When questions arise - as the loan
process can often be tricky - a local mortgage banker and his/her team are able
to quickly and efficiently answer any questions you may have. Local loan
officers strive to build a trusting relationship between themselves and their
client. Local mortgage bankers are your next-door neighbors; they have unrivaled
experience in the area and would go the extra mile to help you land in the home
of your dreams.
3.
Copious Experience in the Mortgage Field
Would you rather have processors
and loan officers based in different locations or a well-oiled team who work
with each other, in-house, every day? Or how about an online, impersonal mortgage
banking team focused on the number of loans closed, versus a team with each
member having over 10 years of experience in the mortgage industry who cares
about quality, not just quantity. Experience and control are key aspects in the
loan process for the transaction to occur smoothly. You can even take this
experience a step further by finding a loan officer with a CMPS
(Certified Mortgage Planning Specialist) certificate. A loan officer with
the CMPS designation has the knowledge and experience building a mortgage that
fits within their borrower’s short term and long term financial goals. This is
the kind of lender you can trust with your personal financial documents and
trust to resolve any problems that may arise throughout the process. CMPS
certification is held by less than 1% of mortgage pros in the industry. In all
aspects of life, experience is valued.
4.
Advantages of Independence
The advantage of an independent
lender is that loans can be sourced with multiple investors and not be
restricted to the pricing of any one institution. This allows for clients to
achieve the best possible rate on the market, while still getting the care and
promptness of a local mortgage banker.
When you choose a local, independent mortgage banker, you
truly can have it all: the right relationship, while receiving fair market
rates and fees. Over the course of their life, the average person buys, sells,
and potentially refinances their mortgage several times. Therefore, choosing
the right lender to finance your home is incredibly important, as the
relationship between a lender and borrower is long term. True mortgage
management is a commitment by the lender to monitor the loan throughout the
complete term and alert you when there are any opportunities to change based on
your financial goals.
