The Benefits of Going Local for your Mortgage

Buying a home is both an exciting and potentially hair-pulling process. There is the thrill of perusing homes, followed by the intricate process of filing all the paperwork involved. It’s a unique – and sometimes daunting – activity. It’s part of the reason why seeking a local mortgage lender is beneficial to the entire process.

When going through a national or online lender, the understanding of the local housing market may be lost. Furthermore, the process isn’t completely tailored to your specific needs, but more of a one-size-fits-all approach.

At Ann Arbor State Bank, we understand the uniqueness of our area’s housing market. Our professionals work on an individual level, curating the lending process based on you and your needs. They are highly experienced, and because they are local, they understand the nuances of the market.

Our Vice President and Residential Lending Manager, Jeremy Shaffer, notes that this local understanding is particularly handy when speed is a major factor in closing on a house. The Ann Arbor housing market is especially strong, requiring a quicker pace. As a local lender, we are armed with knowledge of all aspects and entities involved when purchasing a home. The whole process requires various pieces coming together for a successful and smooth transaction. If a quicker close is necessary, we are seamless in promptly navigating the waters, because we have the necessary area connections and understandings.

Going local also means the money is reinvested locally. We’re proud of the communities we serve, and every dime goes back into them. Our success is directly tied to our community. We are accountable on the local level, making us more responsible with each action we take.

So, why do some people steer towards national or online lenders?

Some of it is the “Franchise Mentality.” There might be a little more brand recognition, but choosing based on super bowl commercials may result in settling for a lender, rather than finding a lender with superior services and products.

Also, there is an erroneous perception that these large lenders mean better rates. As a “smaller” institution, we feature less overhead and lack many of the bad loans from housing’s down period that bog down some of the bigger banks. We’re able to become more aggressive, when the circumstances call for it.

Furthermore, even though we’re considered “smaller,” we still offer the same features as the national institutions and we make the financing process easier.

We know the market. We have the experts. We have the tools. All this fuels an individualized, reliable mortgage process. When you sit down with us, we’ll greet you with tailored advice relevant to your exact situation. No decision is farmed out, meaning no call centers, no press one for “this” or press two for “that.” It’s the dependable service that actually cares.

When it comes to your mortgage, keep it local.