Local Lenders are the Best
February 22, 2007
I constantly tell clients and prospects to use a local lender. Here’s why:
I received a call from a prospect who has been pre-approved for a VA loan in a neighboring state. When I spoke with the gentleman, I told him that I’d like to refer him to a local lender as I thought he might be a good candidate for CHFA (a program I rave about that is for Connecticut buyers only). His out-of-state lender had not mentioned this program to him. Either he didn’t know about it, didn’t want to know about it or wasn’t doing what is best for the client. Thumbs down on all counts.
I just got a call from the lender who told me the prospect is a perfect fit for a VA/CHFA loan – where he gets the CHFA interest rate which is about 1% below the rate he was quoted from the lender in another state!
This is the stuff I live for – being able to save someone a significant amount of money just with a little effort. Some days, I love my job.
Entry Filed under: Buyer's Agent, Connecticut, Mortgage. .
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1. Athol Kay | February 24, 2007 at 3:13 am
Not only that, but if they screw up somehow, you know where they live.
Oh that sounded threatening didn’t it…..
My bad.
2. jredz | March 2, 2007 at 5:44 am
I agree with you completely on finding a local professional to help you find whatever it is that you are looking for. You can read more on why it is crucial to use a local professional at my blog by clicking here.