For today’s home buyer, the options for mortgages are plenteous. You can find mortgage brokers online, instant online mortgage options, work with your favorite bank, or work through a local mortgage professional. How can you determine which is the right option? Here’s a closer look at why choosing a local mortgage professional is usually the right decision.
1. Personal Attention
When you shop for a mortgage online, you are working with a computer. The algorithm will try to determine whether or not you’re a good fit for a particular mortgage program by looking at factors such as credit score, income, and debt-to-income ratios. While this may seem ideal to some people, the truth is that if you have any unique situations in your past, you are less likely to get approved.
Working with a local mortgage professional means personal attention. You will work directly with a person, face-to-face, who is able to help you select the right mortgage product for your specific situation.
2. Get the Perfect-Fit Mortgage
The mortgage industry has a myriad of products available to home buyers. From zero-down USDA programs to jumbo loans for high-value properties, the loan you think is right for your needs may not be your best fit. Working with a local mortgage professional gives you the chance to look at all of your potential options, and obtain professional opinions for which type of loan fits your needs the best.
3. Better Customer Service
A local mortgage professional is motivated to keep you happy. The only way they can grow their business is through satisfied customers, so they will work hard to ensure you are properly served with their services. This hands on approach is far superior to the impersonal online services which offer very little customer service support.
4. Less Risk of Deceptive Advertising
Most online mortgage services get their customers through aggressive online advertising. To get you to click on a link, they may promise lower-than-average rates. However, once you put in your financial information, you will find that your rates are actually much higher.
This doesn’t happen with a personal mortgage professional. Local mortgage professionals provide rate quotes only when they have your information, and thus are more upfront and open about the potential rates available for you.
Online mortgage services may seem like a more convenient and faster way to get a home loan, but they cannot provide the level of personalization and customer service that you’ll get from a local professional. If you are in need of the services of a Maryland local mortgage professional, reach out to Tom Cumpston with First Home Mortgage to learn more about the right mortgage options for your needs.