The Value Behind Using Local Lenders

It’s hard to miss national lenders and big banks and overlook local lenders. They’ve got the marketing money, the brand recognition, and the connections to make the biggest splash across multiple markets. 

But big banks aren’t always better than local lenders. 

When it comes to finding the right lender for you, more often than not you don’t have to look to far from home. There are several reasons why borrowing money from a local lender is better for you. Here are a few of the values behind using a local lender: 


Local Lenders

Real estate agents love working with buyers who use local lenders they know and respect. Why? Because a local lender with a reputation for closing deals carries more clout with real estate agents. If a particular agent has a personal relationship with your lender, even better. There’s no substitute for being able to build a healthy level of trust with your lender, and you can do that easily if they are local. 


A local lender can understand the ins and outs of your local housing market better than a big bank. There might strange reasons why some homes in one neighborhood fetch exorbitant prices. Your local lender will know of these outliers and will be able to take them into account when processing your mortgage application or guiding your through the process. National banks with local branches might be able to pull some data, but often local lenders have decades of experience operating almost exclusively in your market. 

Lower Rates

Local lenders often offer cheaper interest rates than national banks. Why does that matter? Because when financing or refinancing a home every percentage point makes a difference. By lowering your interest rate you lower your monthly mortgage and save yourself tons of money over the term of your mortgage. 

Keep it in the Community 

There’s something to be said for keeping money in your local economy. Local lenders and smaller financial institutions are invested in the local community and often give back to organizations and institutions in their community. By choosing a local lender over a national brand, you are ensuring that money in your community is reinvested in your community. 

First Lenders Mortgage Corporation is committed to finding the best solution for you and your home buying journey. Make First Lenders your first choice. 

We’d love to talk to you about the housing markets where we operate. Send us your questions today!