When it comes to mortgage lenders, most home buyers automatically think of the big guys – the international banks which are household names. Many buyers think they’ll get a better rate from the bank they use for checking and savings. That’s very rarely true. In fact in my experience, buyers not only get more competitive rates from regional and local banks and lenders, they get better services as well. Regional/local banks and lenders can close a deal more efficiently because they have more control over their underwriting and back office operations.
When you’re just starting your home search, you’ll want to get pre-approved for a mortgage so both you and your real estate agent will know how much house you can afford.