There are a lot of options when it comes to mortgages. Let’s face it. Just about every single bank has a lending department and so does every credit union. There are also national mortgage companies that lend in just about every state or at least every state that they can get a mortgage license.
Then there are regional mortgage lenders that lend or specialize (in their words) in the South East, North East etc.
But does it matter what Loan Company you use when you decide it is a tie to cash out and get some money out of your home? Or maybe you flat out want to buy a new larger home or as we see in many cases you are buying your first home and are searching for a broker that can help you the best with that.
Do Mortgage Companies In Georgia Or Even more Specifically Monroe Georgia Have An Advantage Over National Companies
We received a call the other day from a man that was working on getting some money out of his house. It was a cash-out refi in Monroe Georgia. he had not used a local company for his original mortgage. He used someone that his brother’s friend had told him about.
When we checked we saw that he owned his own business and so did his wife. He told us that he called the original company but they were extremely difficult to deal with because he owned his own business and his credit was above average but not stellar.
This is why he searched Monroe Georgia Home Loans and he found an independent company and that was the route that he wanted to take. The national company wanted 2% higher points and offered a rate that was 1.8% higher than what he could find was the going rate in Georgia on Mortgage refinancing.
Dealing with a local independent mortgage broker can have some distinct advantages over the bigger companies. The bigger companies tend to flock the loans that they can push through really fast and are easy to do.
Often times they don’t like dealing with business owners or if they do they up the fees. Hard deals with credit or loan to debt ratios that are off a little they shy away from. But in general, they’re a lot of costs or overhead that the bigger guys have that the smaller guys simply don’t.
Another point is that local mortgage experts such as Athens, Georgia Home Refinance Expert might have intricate knowledge of what homes are worth, what areas grow in value and why and work with appraisers to let them know what is going on with why values are going up to help get homes their fair value when appraised. They know local repair and remodel that might be able to get your home a quick fix that can raise the value drastically.
Another important point is that A Monroe Mortgage Expert that is independent has access to many different programs that are being offered by the wholesale lenders. They are not tied to use the program from their back. This is similar to QT and how they can offer gas so low. They don’t have to buy all their gas from BP when they are a BP station and this is why they can sell it so cheap.
If you are looking for the best rates, services and often times the best deals of what can be offered on home loans and refinances in your town check out what a local independent mortgage broker can do for you.