Support Small Business? How About in Your Real Estate Transaction?

The Small Business Saturday promotion is a great one that's going on today.  Your local small business is run by your neighbors, family and friends.  They spend their profits and wages in your local economy.  They employ your neighbors, who spend their pay in your local economy.  Oftentimes, they support local charities that help make your community.

Did you know you can support small business in your real estate transaction too?  Choose a local lender instead of one of the big national banks, or that on-line lender that looks so tempting.  In addition to the benefits of using small business above, using a local mortgage lender makes sense for other reasons, as well.

First, due to their smaller size, they will find it necassary to offer superior service as a way to attract business.  In this day and age of the big banks missing closing date after closing date, it's nice to have that stress removed from an already stressful transaction.  Also, if you have service issues, with a smaller lender, you can reach somebody who matters and who cares about your transaction.  This can mean all the difference in getting your transaction done.

Second, the smaller mortgage lenders tend to have a more experienced staff.  This experience can pay off in helping you find your way through the maze of requirements and regulations that have been added to the mortgage lending process in the last few years.

Third, the smaller mortgage lender will have to be competitive price-wise.  They may not have the absolute lowest rock-bottom price, but the quicker closing times will help you avoid expensive "lock-in" extension fee's, or expensive longer term "lock-in" periods.  This can ulitmately result in a lower rate and lower fee's in the transaction.

Fourth, the smaller lender may have more options than the larger lenders.  For example, our firm offers the products from a number of large banks and other lenders.  A borrower who may not qualify at one bank, may qualify at another.  Save yourself the hassle, time and cost of another appraisal by working with the smaller mortgage lender.

The entire economy will benefit if we make a concsious decision to check with the locally owned, small business first... including your locally owned mortgage lender.