Is Local Important In Mortgage Financing?

We have all heard of the benefits of shopping local, well that holds true for obtaining financing for your home mortgage needs as well.  In today’s extremely tight housing market, bidding wars are common. You may be competing with many potential buyers and any advantage that you can garner may be the difference between inking a deal on a home or going home empty.  Many real-estate agents agree that using a local lender is best.

Reputation and convenience is what matters.

Real Estate agents want to work with buyers whose lenders know the local market and have a record of getting deals done. That reassures the listing agent and the seller that a sale will close. In hot markets like Madison and surrounding areas, buyers frequently go up against multiple offers and all-cash bids. Confidence that a sale will happen can separate a winning bid from the rest.

Online lenders offer the perception of lower cost, but even a small difference in rates or costs isn’t the most decisive factor in choosing a lender. The ability to steer the home buyer through the process, be flexible in certain requirements, and get the deal closed on time are even more important.  Reputation and convenience are what really matter. Finding a mortgage professional who is known by your circle of friends and family, who you can quickly and clearly communicate with, and who will shepherd you through the process, are paramount.

We can help.

State Bank has a team of local, home lending professionals who are ready to help you buy your dream home, refinance your existing home, or finance the construction of a new home.

Yeah, we’re local, and yeah we can do that!

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