For most of today’s home buyers, it is commonplace to have to sort through the multitude of mortgage brokers, online lenders, banks, local mortgage lenders and others to find the right lender and mortgage. The thing is, how do you choose which option is right for your situation? Which lender will offer you the best when it comes to customer service?
You can utilize first time home buyer education materials to narrow your down your options by learning more about the lending options available and decide which one you are most comfortable with. Most of the time, the answer will be local mortgage lenders.
Here is why.
When you decide to go with a local mortgage lender, you will be working with someone who is right where you need them to be…close by. They know the area as well as the local market, and can sit down with you to explain all parts of the mortgage process in detail, which can be quite confusing if you are a first time homebuyer.
You also need to remember that you are not just buying a home; you are making an extremely important and incredibly expensive financial decision– signing a mortgage contract. There are many different factors to consider when choosing the mortgage product and associated rate that works best for your needs. Working with local mortgage lenders will give you a more personalized experience and the ability to sit down and evaluate your finances. The most important decision comes down to choosing a monthly payment you can afford and an interest rate that doesn’t end up costing you in the long run.
A local mortgage lender, as opposed to a big bank, will take the time to not only check your credit but work with your budget and requirements to match you with the right mortgage. To a local lender, you are more than just a number, and they will help you navigate the process from start to finish.
If you are ready to begin the process, get pre-qualified for a mortgage now with a local mortgage lender who cares about your needs!