Are you interested in applying for a mortgage in the Bay Area? If so, where are you planning on getting the loan you need?
Nowadays, homebuyers have lots of available options for home loans. There are many advantages to using a local mortgage company instead of a national lender.
Here are five reasons to use a local Bay Area lender:
1. You can meet in person and discuss your questions.
If your lender is out of state or one of the big banks, you may have more difficultly getting answers for your mortgage questions. As a result, your discussions will be restricted to email and phone communication.
However, if you use a Bay Area mortgage company, you’re able to come into the office and meet with your lender. This way, you’re able to ask your questions and gain more understanding.
2. You can drop off your documents in person.
The home buying and loan processes require lots of paperwork. Borrowers have to provide documents about their assets, debts, income, and bank statements. That doesn’t even include all the paperwork prepared by the mortgage and escrow companies. While there are many efficient and secure online systems to get these documents to the right people, if you prefer to bring your documents in person, you can only do this with a local lender.
3. There will most likely be fewer hiccups on the way to closing.
With a local mortgage company, there’s a high probability your transaction will be smoother and more timely. In many instances, the home buying process can be faster if you’re working with a local lender.
4. You’re connected with local real estate professionals.
Local mortgage companies typically have close working relationships with a wide variety of real estate agents, escrow and title companies, home appraisers, and other housing-related professionals who work in the area. Having a lender who knows local professionals ensures that you get the best service throughout the entire process.
So if you’re starting your home search and getting pre-approved by a local Bay Area lender, you can also get recommendations for a real estate agent to help with your search.
5. You can read reviews from homebuyers and mortgage shoppers in your neighborhood.
Many people depend on reviews to determine if they should go to a specific place or trust a particular company. It’s the same with mortgage lenders. However, you’ll want to hear what people living in that neighborhood have to say about buying a home in that area with a local lender. Yelp is a helpful tool that allows you to hear about people’s experiences with mortgage companies.
You can check out JVM’s reviews below to get a sense of how satisfied our borrowers are. With over 700+ 5 star reviews, JVM is America’s #1 Rated Mortgage Lender.