When it comes to getting a mortgage - especially in the age of digital lending - homebuyers have many different options. The choices may seem overwhelming and you just may be wondering why you would want to go to a local broker.
Two words - personal attention.
"We have put together a group professional lenders locally whom we work with on a continual basis who are easily accessible when a buyer needs to reach someone quickly," said Kazantzis Real Estate Owner Andrea Kazantzis. "Those local lenders are available to have a phone call or meeting to discuss the buyer's specific needs - ensuring the client gets the attention and service they deserve."
In addition, a local lender will be familiar with your specific area.
"We find it extremely helpful to work with someone locally who will understand the ins and outs of the local area and have knowledge of what will fly and won't fly, "Kazantzis said. "It is nice to have someone who understands the options for lending right here in our own communities. While online lenders are a great option, the personal touch will be lacking."
While online lenders are definitely convenient, local lenders are embracing the digital age as well.
"Most local lenders have online apps now that make the application process easier," said Kazantzis Real Estate Agent Keri Roy. "But, when you need more in-depth, personal attention you still have the option to go to the office. It's the best of both worlds."
Robert Kalagher, president of Ross Mortgage Company, warned against offers that may be too good to be true.
"Oftentimes, online lenders lure clients by advertising lower rates, but that’s rarely, if ever, the rate you get," Kalagher said, adding that local lenders know, as members of the community, having a good reputation is important.
"Our company has personal relationships with local agents, builders, attorneys, appraisers, which means the entire loan process is smoother for the customer. Experience as well as local reputation matters," Kalagher said.
Kalagher said other benefits of going with a local lender include:
In-House Underwriting
"We have the ability to make decisions on your loan right at our corporate headquarters," Kalagher said. "The process with an online mortgage company can be automated, and therefore allow for less flexibility."
Mortgage Products
Mortgage companies, like Ross, can also help find the right type of mortgage for you. Kalagher said his company has many loan options, including No Down Payment, Low Down Payment, as well as Conventional, Jumbo, FHA, VA, USDA, and alternative loan products.
Customer Service-Centered Team
"Our team is dedicated to closing your loan quickly and efficiently. Our loan officers are available any time to answer any questions or concerns you may have. Many online companies are only available during regular business hours," Kalagher said.
"Ross Mortgage has Loan Officers all over New England," he added. "We also have the Ross Mortgage Closing Guarantee. We’ll close your loan on time, every time, guaranteed."