Benefits of working with an independent mortgage lender | Blog article by Valley Mortgage


Benefits of working with an Independent Mortgage Lender

You have many choices when securing mortgage financing. From a local mortgage lender to a large mortgage broker or a big-name bank, it’s no secret you have a lot to consider. Every lender claims they have the ‘best rates’ or the ‘fastest service,’ but until you try them out, you won’t know the truth. Valley Mortgage is locally owned and operated (for more than 38 years) and we are the largest independent mortgage lender in North Dakota and northern Minnesota

Working with an independent mortgage lender, though, has its benefits that supersede what a broker or big-name bank can offer. Here’s how you can benefit.

We Get to Know You

Big-name banks and busy broker offices treat clients like a number. They only want to know your credit score, income, and what you can afford. They push you through the process without thinking about what you may need or want.

When you work with an independent mortgage lender, you’ll feel like a person. They’ll get to know you and your needs/wants in a mortgage. With this information, they can suggest the mortgage program that works best for your situation, not the other way around as occurs with brokers and large banks.

Honest Answers

Banks and brokers that promise every borrower the world aren’t being honest. They don’t know what you qualify for or can afford until they get to know you. They may even try to push you into one of their programs that isn’t a good fit for you.

Working with an independent mortgage lender, there aren’t any agendas or commissions to meet – just honest answers to help you make the right decision. A home is one of the largest investments you’ll make in your lifetime and independent lenders help you make your decision with your future in mind.

Handling Everything Locally

Sending your application and information across the country to other offices and waiting for answers from multiple people makes the mortgage process more complicated than necessary.

When you work with a local mortgage lender like Valley Mortgage, everything is handled in the Fargo office from pre-approval to underwriting to decision-making and closing the loan. You don’t have to track down professionals in multiple offices and try to figure out who has the answers you need. Everyone in the office at Valley Mortgage will know who you are and can answer your questions quickly.

Fast Processing

When your information doesn’t have to pass through multiple hands and multiple offices, you get to the closing a lot faster. 

When you apply for a pre-approval, you need fast answers, especially in today’s busy market. If there is any delay, you could lose the chance to buy the home you’re interested in. A local office can have an answer to you in a few hours versus a few days it may take when you work with larger lenders with many more people involved.

The same is true of the loan process itself. When everything is ‘in-house’ you get through the loan process much faster. Underwriters can reach loan officers instantly, which means the information you need gets to you instantly rather than waiting for the ‘right person’ to be notified and to call you.

The Right Loan Products

Brokers claim they have the most products, but the products don’t belong to them. They may have a wide assortment to choose from but because they don’t know the products intimately, they may miss the one program that would help you the most.

Independent mortgage lenders know their loan programs inside and out. They can explain them to you in the finest detail and ensure you get the program that suits your needs the most. This eliminates the risk of loan denial mid-process or putting you in a loan that isn’t a good fit.

Personal Service

Securing a mortgage is a big deal. Whether it’s your first or you’ve had one before, there are a lot of decisions to make and personal questions to answer. Brokers and big banks treat you like a ‘number.’ They don’t know you from the next person and won’t provide the TLC you need when buying a home.

Whether they need personal information, have an important question, or need to change things, hearing it from someone who cares about your situation and truly knows you makes all the difference in the world.

Local Expertise

Working with a local lender, you’ll get professionals who know the area and understand the local market. This is important when you try to buy a home. You don’t want someone who’s just throwing numbers at you but doesn’t know anything about the area.

One factor could make or break your deal, but when you work with a local company, they know what sellers in the area look for and can help you close the deal. Sometimes it’s the smallest details that make or break a loan, but when you’re working with someone local, you have a better chance of winning the deal.

Get the Service you Deserve

When you’re ready to buy a home or refinance your existing home, work with your local lender. At Valley Mortgage we treat every client with the personal service they deserve. We know securing a mortgage isn’t a one-size-fits-all approach.

We work with each individual, tailoring our services to your needs. We listen to what you want and provide it with the utmost care and concern. Each of our staff members is well-versed in all aspects of the mortgage process and can help you with your questions.

Don’t leave your mortgage to chance. Everyone will claim they have the lowest rates, but until they get to know you and your situation, they can’t make these bold claims. Work with a lender like Valley Mortgage- that gets to know you and will provide you with the lowest rates for your situation.