Top Ten Reasons to deal with a local loan officer

Top Ten Reasons to deal with a local loan officer:

10. They will probably be at the closing table where you can look them in their eyes.

9. When they come to the closing table you can expect a nice little gift.

8. The fifth time they ask you for the same documentation you can "suggest" they drive over and pick it up.

7. You can actually go to their office and see their licensing hanging on the wall. Unless they are unlicensed in your state!

6. Chances are they actually understand the neighborhood trends where you live or are buying. Think this isn't important?

5. I'll meet you at [insert restaurant here] and go over the documents just works better.

4. They are in the same time zone so a phone call is always convenient!

3. It's more likely you'll speak the same dialect - no interpreter needed.

2. Statistically speaking you're more likely to know some of the same people.

1. It's harder for them to hide when the possibility you eat at the same places exists.

Look, I'm not saying there aren't people who can't do long distance loans and do them well. I am saying two things: Dealing with a local loan officer who you look in the eyes means a lot when the "hits the fan" factor comes into play. I am also saying if you're happy with being a faceless number from start to finish then having to go through that whole "I can't get anybody to help me" when you need it - fine. Call MEGA-BANK and see if you can save $3 a month. If you want a relationship with someone you can trust, look around home.

There is a false sense of security when people deal with big national lenders or internet based lenders because the operators can do a very good job of pretending to be seasoned loan officers and to really care about you personally. It's not hard when you have a multi-million dollar database system that keeps your name and all your pertinent information right in front of the phone clerk to call you by name and ask about your spouse and dependents. Of course they call you by your name - that's the first trick the snake oil salesmen use, too! First trick of a used car salesman? Get their name and repeat it back to them. (By the way, used car salesman aren't as bad as salesmen of certain other services!)