If you are shopping for your first home, your first thought might be to use a big box lender. But you would be better served by an independent local mortgage company. Let’s go over some reasons why.
Things You Should Know About Independent Mortgage Companies
- An independent company will spend much more time with you. First of all, big banks tend to rush borrowers through. That can leave you with a lot of unanswered questions and confusion. By contrast, an independent mortgage company in South Florida will take the time you need to give you detailed answers to your questions. That way, you can make informed decisions about your first home loan.
- A big box company is more likely to turn you away for credit issues. Big banks tend to give up more quickly on borrowers who do not have perfect credit—a common situation for first time homebuyers. An independent mortgage company will have more workarounds in place to help you move forward with your home purchase.
- An independent mortgage company can help you work around down payment obstacles. Just as first time homebuyers often do not have perfect credit, they may not have a lot of savings for a down payment. Whereas a big bank might turn you down, an independent company can help you find the mortgage solutions you need to proceed with buying your first home.
- You will have a simpler, smoother, more enjoyable experience all around. Buying your first home can seem complicated, but it does not have to be stressful. Since the loan experts at an independent company will work closely with you and provide you with more options and solutions than you would get from a big box company, the whole experience can be a pleasant one.
- You will feel more comfortable and supported through the process. It is hard to feel confident purchasing a home when you are not getting sufficient personal attention from a big bank. There is no sense of trust, and you wonder if you are even choosing the right lending product. But an independent company gives you the continuous communication and support you need throughout the application process to feel truly comfortable. That way, any concerns you might have had going into the process are dispelled, and you can instead focus on looking forward to life in your new home.
- You will have a mortgage company that will be on your side over the lifetime of your loan. As a first time homebuyer, you are concerned with not just the present, but the future. Who will be there to help you with your mortgage if you need it? Once you close with a big box company, they are likely to forget about you pretty quickly. But a small mortgage company builds long-term relationships with borrowers, proactively checking up on them to see how they are doing later down the line.
Buy Your First Home in South Florida
At Premier Lending Corp, we know you are entering the home buying process with lots of questions and uncertainties. As an independent company, we can offer you service that no big box lender could rival, along with a large selection of loan products for every need. That way, you will be able to make smart decisions for your financial future when you buy your first home. To schedule your consultation today, please call 954-840-8811.