Why use a local lender for your house purchase?
You would not use a real estate agent who lived in another state would you? So why would you work with an out of lender to do a loan on your house purchase.
Getting a mortgage with non local lenders and large banks can be a task that is frustrating and time consuming. Not to mention wrought with communicating papers back and forth, to make sure your lender has the correct, up to date, and accurate facts. No doubt you have bee tempted to use those companies that promise, no closing costs, no fees, answers in one hour. Just like everything else, buyer beware. Most of these companies can promise you anything, but can they deliver when you need quick service, answers fast or even to meet deadlines that are the same day, the solution to these problems is simple, use a trusted local lender.
Local lenders know the real estate market, they are familiar with local prices, what homes sell for, and they are available quickly. Most lenders live where they are trying to lend, they have children who go to the local school, and they can discuss various other market differences. Why would you call a lender across the country who has no idea where you are, what the local market is doing. Some lenders are in a different time zone and shut down at five. Most local lenders are more competitive in the interest rate, closing costs and other fees associated with getting a mortgage. Our Choose A Home Team Members are happy to recommend the following trusted lenders to use when you purchase a house.
Nick Russo Nick consistently goes over and above helping our clients fix problems with credit, working with underwriters, and making use closings go smoothly. He takes pride in a personal touch and works with all types of mortgage loans. VA, Conventional, FHA and Virginia Housing Loans. Ask Nick about a $100 gift card just for getting a second opinion from him.
Bobby Ashburner Bobby partners with us and teaches the lending portion of our free first time homeowners class. The class is approved by Virginia Housing. His area of expertise includes fixing lower credit scores and working with first time buyers to navigate the paperwork. Many times, after hours he has answered his phone and helped the client with the questions they may have had. Bobby takes pride in all of his transactions. He works with first time buyers to a million dollar beach homes and investors buying multiple properties.
In conclusion, avoid using out of state or big box and online lenders, it makes sense to use local lenders. You will be surprised at the high level of service and savings both in time and money you will have.
Remember Interest rates and home prices are slowly starting to climb so consider getting started!