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Ann Arbor Real Estate Blog

Blog about Ann Arbor and Saline Michigan

Why Buyers Should Use Local Ann Arbor Area Lenders

Why buyers should use local Ann Arbor lenders when purchasing a home for sale in Ann Arbor and the surrounding area’s.

When you are buying a home, it is one of the biggest purchases of your life. Many buyers spend a lot of time picking out the perfect home, some “shop for rates”, some just do a Google Search and call the number spending very little time researching the lender.

Most of my fellow Ann Arbor Real Estate fellow Realtors will tell you the transactions go much smoother if buyers work with a local agent.

Why is it important to work with a local lender?

1) They know the market better than a lender out in who knows where.

2) They get to know you and can sit down face to face.

3) They have the opportunity to do future business with them.

4) They understand how we do Title Insurance, where the buyer pays on the amount of the mortgage and the seller pays on the sales price. Some states do this completely different.

5) They know local appraisers.

6) They have a relationship with your Realtor and keep them informed throughout the process.

7) Because it is NOT a one time deal they communicate better with all parties involved.

Local Lenders Rock

I mentioned above that buyers spend a lot of time and energy looking for their perfect home, at least call a few local Ann Arbor Area lenders and compare their services and rates to what you are being quoted over the phone. I promise you, you will get much better service. After you get your Good Faith Estimate from the out of area lender compare it to the one from the local lender.

Shop like you would buying a house. It’s OK to ask a lender to “sharpen the pencil.”

I can’t tell you how many times over the years, we have had out of area lenders drop the ball and our local lenders would jump in and take over the file and get it done in record time.

If you need recommendations on good,professional,local Ann Arbor lenders,give us a call and we will send you list. 734-926-9797

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