Looking For A Mortgage Lender In University Park?

By
Real Estate Technology with Home Value Leads

University Park Mortgage LenderIf you are looking for a mortgage lender in University Park, there is a very important question that you have to ask yourself: Local University Park mortgage lender or big bank

There are several factors that you have to look at when you determine what kind of lender you will use. There are advantages to using a local University Park mortgage lender and there are advantages to using big banks. You need to determine who is going to help you get the job done and who are the sharks. You will have to weigh the options and find out what works best for you and your situation. 

Don't always look for the cheapest, because you get what you pay for. Dependability is a big key factor here. Can they and do they get their loans closed on time? How easy is it to get a hold of them on the phone or through email? Do they have an in-house underwriter or is the underwriter in another office, city, or even state? 

In my opinion and in my experience, a local University Park mortgage lender will be your best bet if you chose the right one. I have worked several deals with big banks. Many were delayed, some as much as 30 days. Why? Because the lender went on vacation. By the time the lender got back, it was the underwriter's vacation time. You would think a big bank would have coverage for these types of things, but sadly apparently they do not.

I closed a deal in early January. My local University Park mortgage lender closed the deal in under 30 days, including the Christmas and New Years holidays which means they actually closed the deal in about 23 days. Now THAT is service. 

When you are buying a University Park home, you need to find someone that can get the deal closed on time. If you are looking for the best mortgage lenders in University Park, look no farther. These folks can get it done and get it right. 

Posted by

Brian Rayl

Licensed Dallas Real Estate Agent 

Co-Founder of Home Value Leads

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Comments (5)

Doug Rogers
Bayou Properties - Alexandria, LA
Your Alexandria Louisiana Agent

Local works best for most of my clients. I like the fact that if there is a problem we can sit down over coffee and work it out. Good luck doing this with one of those giant call centers!

Jan 27, 2013 02:20 AM
Florida Tolbert Team Keller Williams Advantage
Keller Williams Advantage III Realty in Lake Nona - Orlando, FL
Keller Williams Land Luxury Division Specialist

Great localism post and great job of endorsement for your local mortgage lender.  Have a great week.

Jan 27, 2013 11:08 AM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Brian, local lenders make all the difference - so your are on target 100%.

I represent buyers and have been very careful with who they work with - not that I want them to steer away from their own personal connections, but just verify that they will deliver what they have promised - and that too, in timely manner.

Jan 27, 2013 11:50 AM
Sondra Meyer:
KW Coastal Bend - Corpus Christi, TX
See It. Experience It. Live It.

Hi Brian.  Great post.  When it comes to mortgage brokers, I won't recommend clients to a mortgage broker that isn't local, experienced enough or dependable enough to get transactions closed on time.   Their role is too important for a smooth transaction.  

Jan 27, 2013 01:18 PM
Brian Rayl
Home Value Leads - Highland Park, TX
Active Agent and Co-founder Of Home Value Leads

Doug: I've had the same problems with big banks. Local is best in my opinion. 

Kevin: Thank you! Same to you.

Praful: I have made it a personal policy that if a client wants to work with a certain big bank (I won't name names here) that I tell them I cannot work with them because their loan probably will not close on time, and it will make me look bad in their eyes. If they insist on working with that bank, I will be happy to refer them to another agent. I have spent way too many hours on the phones (eternal hold music), sent way to many (unanswered) emails, left far too many (unanswered) voice mails, and dealt with way to many screaming angry or upset clients to put myself through that. 

Sondra: Thank you for your compliment. The two lenders that I work with I can call at 9pm to ask a question or send a text and get a response within 30 minutes usually. If there is a problem with underwriting, they don't get on the phone - they walk down the hall to the underwriters office and say "Whats the problem?". That is how you close a loan on time. 

Jan 28, 2013 12:52 AM