Why use a local lender vs. Internet nationwide firm

First, simply put, buying a home in any market can be somewhat complex, and stressful for the inexperienced (or even the experienced) buyer. That's partly why it normally takes 30-45 days from time of contract signing to move-in. Thankfully, much of the activity is carried out behind-the-scenes by attorneys, lenders, etc.

Choosing the right professionals in the beginning is paramount, since much of the transaction involves the lender and associated contractors. Laws and regulations regarding property purchases vary significantly between states. The required documentation (often crucial in timing) varies widely as well. Late/wrong documents can delay or even prevent successful sales processing.

Since local office lender/brokers such as Chase, Wells Fargo, & in-house, offer competitive rates it's kind of a no-brainer as to why not use them. Since they operate daily in a specific area, they're always aware of local requirements (and recent changes) and documents. Hence they can offer smoother transactions and maximize the buyer's ability to get through the process with minimal risk and stress.

I've had clients have used out-of-town lenders in hopes of saving, only to find that there are hidden fees, and the overall cost for the loan to be as high or higher than that of a local lender.

Since, as Realtors, we don't get paid unless the deal goes through, its in our best interest as well, to suggest lenders with the skills and experience to secure a loan that is tailored to the buyer's needs.

Just as you choose a local Real Estate Agent to ensure proper area knowledge, you should work with a local lender for the same reasons. Ask your Realtor for a recommendation.