Using a local lender can save you a lot of headaches!

     Using a local lender that has a local back office can save you a lot  of money, time and aggravation.  Having  the entire process local makes the people much more accountable to you and your needs.  They have to deal with us on a local basis.  They are just more accountable plus they are often time the most cost effective way to finance.

    Making the call to an unknown person in Dallas or Atlanta is much like talking to the IRS, they just do not want to be bothered.  The decisions are last minute.  They do not understand our our local market and issues.

     The interest rates are generally going to be the same or better.  The cost are also gnerally going to be cheaper as  well.  Always ask for a good faith estimate to check out the cost.  Ask if they have a lock in period and if the rates drops can you take advantage of the lower rates.

     If your lender is late you may just blow the deal.  Many sellers will wait for the loan but they do not have to wait.  There are times when they will move to the next person or deal. 

    Ask around to see who has received good service and who has not.  The out of town lenders can cause big problems.  We will never hear from them again so the incentive to be crediable is long removed.  This happens time and time again.  That is why I am bringing it up.  Tired of last minute suprises.  We as agents have our favorite lenders becuse they get the job done for us and give our clients the attention the deserve.


         It is especially true with condos to get the local person who knows the various condo associations and knows how to get the imformation they need.  More and more deals are falling apart because the lender does not know the market.  Just my point of View ! Eric

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  1. Kathy Case - Bayou Title

    Hi. I’m Kathy Case with Bayou Title. I had to comment as I totally agree with Eric about local lenders. I get to witness, first hand, how much difference it can make when you can match a face to the lender (& they can match you to a realtor). Often a loan is ‘shopped’ by the interest rate and thats only part of the equation. Often times, the fees associated with the out of town or internet lenders make it much less of a ‘bargain’. And the effort put forth toward getting your loan closed is seldom the same.
    Local lenders make it happen!

  2. Julie Baudier

    Hi-Im Julie Baudier with Standard Mortgage,we are a local lender here in New Orleans for the last 99 years!
    Our underwriters are here in the office with us for fast turn around time. We can close your loan in 2WEEKS!

  3. Brent Edwards

    I agree with Eric. I am Brent Edwards and I also work for a local lender. At America’s Mortgage Resource, our underwriters are the best in the business. Their knowledge of the business and the market helps process the loan faster which in turn takes any last minute head-aches out of the way. We are generally waiting on the closing date instead of pushing it back.
    Another problem with out of state lenders is they do not understand the unique real estate market of New Orleans. Where else in the world has a shotgun duplex next to an $750,000.00 single family?

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Eric Bouler Realtor
Gardner Realtors
Metairie - New Orleans, La. USA