In our last blog, James Payor, president of Emerald Home Loans, discussed why the "Big Boys" don't have anything on EHL. James mentions that the biggest advantage large national lenders can claim is that they have the financial resources to give you everything you need and that the mortgage will be an extension of the relationship.
However, by going with a local lender like us (EHL), we are able to offer the SAME THING, but on a MORE intimate scale. So, is going with a large national lender worth sacrificing other aspects of the transaction?
This week, James focuses on "Going Local" and his decision not to go national, but to lend in the communities we are familiar with.
James says, "Dealing with a local lender offers such advantages as:
- Our appraisal and underwriting teams understand the property types, trends and values in the areas we lend. National call centers lack that connection.
- Understanding and participating in all the local and state first time buyer programs available including down payment assistance and grant programs as well as renovation and construction loans.
- Catering to communities in need of special products such as VA loans near a military base or non-approved condo lending in vacation areas
- Giving back to the communities in which we lend" (stayed tuned for our next blog)
Stayed tuned for our next blog when James talks about his idea behind "Giving Back".