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, it’s important to choose a mortgage lender who is trustworthy, experienced, and has a team of skilled mortgage bankers. Unlike any online lender, a mortgage banker is a live person prepared to personally manage your home 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 personal service with the goal of customer ease and care.
A locally owned and operated mortgage lender with a team of experienced mortgage bankers, processors 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 daunting, but with a local mortgage banker, you can rest assured that your personal information is safe in the hands of trusted experts and that it will remain in-house during the processing of your loan. The advantage of in-house processing is that it provides an efficient system and allows a lender to retain full control over all aspects of your loan.
When questions arise — as the loan process can often be tricky — a local mortgage banker and their team are able to quickly and efficiently answer any questions you may have. Local mortgage bankers strive to build a trusting relationship with their customers because they're your next-door neighbors, they have unrivaled experience in the area, and they are eager to go the extra mile to help you land in the home of your dreams.
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 flow smoothly. You can even take this experience a step further by finding a loan officer with a CMPS (Certified Mortgage Planning Specialist) certificate. A mortgage banker with the CMPS designation has the knowledge and experience building a mortgage that fits within their customer’s short-term and long-term financial goals. This is the kind of lender you can 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.
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 customers to achieve a highly competitive market rate 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 customer 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.
If you’d like more information about the mortgage lending process, please download a copy of our homebuyer’s guide below or schedule a complimentary consultation to get started with one of our mortgage bankers.