The 5 Advantages of Using a Local Home Loan Lender

Buying a home is stressful. Between finding the home of your dreams, packing up your life, passing the inspection and sealing the deal, the last thing you want to worry about is making sure your mortgage is in order.

Whether you’re a first-time buyer who needs a little extra help or an empty nester settling into a new chapter of life, local lenders are a wise choice. Put your mind at ease and your money in good hands by going local.

Here are the top advantages of using a local lender:

Realtor Relationships

Most local lenders invest a lot of time and effort building solid relationships with Realtors throughout the regions they serve. This becomes particularly beneficial when it comes time to close the deal. Philadelphia’s real estate market is red hot right now and buyers need to move swiftly when they see a property they love. Often local lenders have extended hours, allowing you to contact them during the evenings and weekends. If you see a house you love on Sunday, you’ll be able to reach your loan officer and get an approval same-day. Plus, with everyone (Realtor, lender, and buyer) working in proximity to one another, a closing can happen on time and with local attorneys and agents. That final stretch of home buying is the most stressful part, and having one-on-one, in-person interactions will make the entire process quick, clear and painless.

Personalized Experience

Using a local lender allows you to work face-to-face with an expert, eliminating a lot of uncertainty and anxiety. With local lenders, you avoid those dreaded customer service lines manned by a team of voice-activated computers, and your messages won’t sit in a voicemail box unanswered for weeks on end. You’ll instead have a cell number you can call or text at a moment’s notice. Confused about pre-approvals, loan types or next steps? Make an appointment to speak in person with an expert who can clear everything up and steer you in the right direction. Online experiences can’t compare to the first-class care you’ll receive with a local lender.

Bonus Benefits

Not only are most local lenders more affordable than big box national brands, some even offer extra perks to really demonstrate their value to buyers. For example, Allied Mortgage Group, a Bala Cynwyd-based lender, is able to offer clients bonus benefits you won’t find elsewhere, like free home warranties and free pre-approvals. Pre-approvals are actual loan approvals that give you a commitment in writing for the loan amount you qualify for, giving you peace of mind while shopping for a home. That means you’re already one step closer to obtaining a mortgage and are qualified to purchase the house you’re looking at—which makes you appealing to the seller and gives you a leg up in the competition to land your dream home.

A Wealth of Knowledge

Local lenders know the market in your area better than anyone else. That means they have a better understanding of property values and the local economy. When you work with a smaller, local lender, you’re paired with a licensed loan officer and team of professionals who are experts in the region you’re buying into. They’ll help you choose the right type of loan for your circumstance and keep you updated along the way, ensuring each step is done with care and concern. Most local lenders even have the in-house tools and resources to expedite a loan, ensuring everything is taken care of with time to spare. Even if you’re a seasoned buyer, there are benefits to going local. No matter how many times you have been through the process, there can still be hiccups. Local lenders understand that customers are as unique as their fingerprints and they will work to find a solution that works for everyone. They’re more willing to go the extra mile to secure their customers a successful mortgage.

History of Success

Look for a local lender with a track record for success. Some, like Allied Mortgage Group, have a solid track record and dedication to the region that you just can’t find anywhere else. Their loans officers are members of the community they serve. They shop at the same grocery stores as their customers, get their gas at the same gas stations, live their lives in a similar style. They have vested interest in having each and every loan close as smoothly and efficiently as possible. Allied Mortgage Group has been a trusted source for securing mortgages in the Philadelphia area for more than 25 years — that’s a lot of happy homeowners!

Thinking about buying a home? Get pre-approved (for free!) today at alliedmg.com