Many people often ask what the difference is between using a big bank for their mortgage and using a smaller company. Many big banks offer competitive rates, low fees and have a large presence and reputation in the market. These are all things you want to look for when shopping for the right company. As an owner of a small mortgage company myself I can offer some insight into the difference between the "big guys" and companies like mine.
Can a small company offer competitive rates and low fees? Absolutely! Many smaller companies do not have the overhead that the "big guys" have and may specialize in mortgage only versus just offering mortgages. When you work with a company that specializes in just mortgages you get the experience and expertise of a company that focuses every day on just that, mortgage!
Can I get the same service from a smaller company? Yes, in fact smaller companies many times offer a more personable and hands on experience than you get with the big banks.
Top 5 things to look for when shopping for a mortgage.
1. Local Office
2. Local Underwriting
3. Prompt attention to you (answering calls and returning messages).
4. Good reputation (do your homework, search online, ask for a recent customer survey).
5. Must be willing to provide a good faith estimate and meet with you in person.
Steve Currington is a mortgage banker with Currington Mortgage in Tulsa, Oklahoma. CMC helps customers with cost effective and hassle free home financing. CMC specializes in working with first time home buyers and those with low or no down payment. For more information please contact Steve at 918-394-5626, stevec@21dayclose.com or www.curringtonmortgage.com
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As a future homeowner in the process of buying a house, the things that I really think are important are deals that have great rates, have low fees, and where the people involved are easy to talk to and always helpful. Those are what I would prefer in a mortgage. Pittsburgh has the best homes which fortunately are affordable thanks to the economic trends.
Good thing I was able to get the best mortgage Pittsburgh, PA offers. It really doesn't matter much of the mortgage bank is big, as long as it can give homeowners the best deal.
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