Unless you are paying cash, using a local Maine bank mortgage loan lender is the best advice for home buyers.
Local Maine banks and credit unions are your friends, neighbors and know the local areas they serve because they are right here in the same communities.
Those local lenders can help you afford costly delays, appraisal problems and a lot of unnecessary frustration.
When a Maine home buyer signs a purchase and sales agreement, the clock starts ticking to get to the real estate closing finish line.
Delays on gathering up and shuffling the paperwork. Weeks flying by and nothing moving along for the slide the house keys across the long conference room table.
Time wasted trying to place a valuation order and receiving a Maine real estate appraisal that the mortgage underwriting department will accept.
The seller is parked, in the waiting room while the real estate mortgage lending home loan operation is underway. That seller’s move is tied to this Maine real estate sale. A relocating home seller has a major clock ticking in the background.
It is critical to meet the time table deadlines for employment to pay the bills and to get their family settled into new schools, etc.
The buyer needs to get out of an apartment on time to avoid paying for two places.
Or real estate dominoes are being played and the old house has to sell before buying the new home. Lots of people involved and affected by delays in the Maine bank mortgage loan lending process.
The home buyer if he/she/they can not get the financing to fund the Maine house sale in place in time looses out completely.
Like how crucial it is to get to the church on time when getting hitched. Time is of the essence and this is serious business. You can not expect a home owner to keep extending the contract to buy the place forever right?
No one likes to wait, who wants to be held up in this drive through quick society we live in right? Patience is tested when you don’t use a local Maine home loan bank mortgage lender.
A bank lending you money for your Maine home loan that actually live and work here makes all the difference in getting the best, easiest, cheapest mortgage.
So how it happens, why wouldn’t you want to trot into a local Maine home loan lender for your mortgage?
Why would you go out of town when you are lucky enough to have full service local Maine home loan lender in your town, county or state?
The same place you make your monthly house payment is the institution you have your savings and checking, car loans, Christmas club, etc would make the most sense right?
Home buyers up late at night and online scoping out Maine real estate listings can easily see the pop up out of the corner of their eye for an out of state home loan lender.
Who has a smiling helpful chat bot ready and waiting to hook you up with lending easy peasy. Click here. (NO NO No don’t!)
The promise is easy approvals, low rates, we’ll take care of everything quick like a bunny.
The out of state or solar system mortgage home loan lender that is not in Maine can not offer the level of service.
Local lenders understand the market where the home is located in Maine. The real estate market in Maine is unlike any other in the country.
From coastal fishing villages and inland farms to the mountain, one of the 480 small towns, the property values and condition vary dramatically.
Even from within one of Maine’s sixteen counties, each Maine real estate market operates differently.
How would a lender on the West Coast three hours behind us time wise possibly know how the market behaves that the Maine home listing is located in?
They can not because they don’t live, work, play where the property is located.
The log cabin on leased land and a year round home on a private road or with a right of way easement for access is foreign to a lender many states and time zones away.
Local Maine home loan mortgage lenders are familiar with local septic rules, road associations and wood heating systems.
Local Maine home loan lenders deal with situations every day that help make mortgage approvals smooth instead of stressful full of unknowns.
Local Maine banks have strong relationships with local appraisers. Their speed and reliability in the appraisal process is best because local lenders order appraisals directly from the trusted professionals they’ve worked with for years.
My Dad was a licensed appraiser in Maine for years. Like other local appraisers filling valuation order requests, he knew the real estate market, the roads, the true value of Maine properties.
Because of local living here experience and from past appraisals, just the property address can spark obstacles ahead.
When you drive by a property daily and know exactly where it is, have appraised it before, you instantly know for FHA lending, that particular house’s considerable peeling paint is going to be on the list of updates needed.
Deck railings, roof repair too is needed before a clear to close memo is issued to the local attorney the local bank uses for efficient lending.
How does the Maine home appraiser know all this from just a phone call?
He/she like the Maine bank mortgage lender drive by the place daily, know the owner now or who lived there back when they were a kid.
Local is powerful for getting things done.
Efficiently, the Maine frugal best route to take to save money and time. Outside giant Maine bank mortgage home lenders use AMC’s (Appraisal Management Companies) that are 3rd party networks. That assign appraisals for a fee.
The results of AMC’s that like the lender are far away from the Maine towns they have never heard of? Appraisal orders take weeks to fill. The appraiser is more expensive and unfamiliar with the local market comps or market conditions.
The appraisal reports get kicked back again and again for revisions from far away home loan lenders.
The appraiser from far away coupled with a bank mortgage loan officer from out of state are a bad combination. Nice people, just out of their league on local lending, Real estate is location times three and fixed based. You can not move it closer to the out of state lender where he or she is the local expert and live there.
Communications when your lender is a local Maine bank are right now addressed.
When I pick up the phone or drop by a local bank lobby to discuss a pending real estate loan, I can find out what is the delay? And update the buyer and seller the same day, or within the hour.
When I call an 800 number and leave message after message. As days fly by and no one responds to emails or phone call voice mails.
It is not fun to tell house buyers and sellers I don’t exactly know what is holding up the Maine home loan process.
I can’t get in touch with the lender or a return call, email, text.
The one I don’t see in my circles travel around a small Maine town like I do a local banker. Speaking directly to your home loan office is huge. But not going to happen when on hold waiting and wondering and hoping for a call back update.
Real estate buyers complain about the same lack of communication from their online home loan lender. The one picked online late at night that promised the sun, moon and stars.
So if you don’t want closing dates delayed for months and have to eventually pull the plug, get pre approved before you find the home sweet home of your dreams.
Use a local Maine mortgage loan lender for the best results and front row seats at a real estate closing.
Local home loan mortgage lenders in Maine solve problems faster to keep everything on track for the real estate house closing. Everything does not have to go up an elaborate chair that only delays your loan even more.
Local Maine banks mortgage lenders offer competitive rates and trusted advice and you have a building relationship for life. That is a useful resource to tap. Lower fees, local discounts, fast turnaround times, honest advice from someone you know and trust.
Plus you are supporting the local economy using local Maine banks. That employ your community members who pay taxes, volunteer and make your local town a great place to live, work and play.
Close on time without the stress happens when everything is local.
Your lender, appraiser, title company and agent where communication is seamless. They know each other, they have worked together.
Local means trust. expertise, community when you use a Maine bank mortgage lender or credit union.
Save time, avoid appraisal delays and get advice from professionals that actually know the local Maine real estate market.
AMC’s struggle to even find appraisers willing to travel to rural Maine. Their lack of understanding about our housing stock leads to endless kickbacks, corrections and higher costs.
Avoid the sick sinking feeling nothing is moving, that nothing is getting done that is a waste of time for Maine home buyers and sellers. Use local Maine home loan lending for your mortgage!
I’m Maine REALTOR Andrew Mooers, ME Real Estate Broker
207.532.6573 | info@mooersrealty.com |
MOOERS REALTY 69 North ST Houlton ME 04730 USA