David, not Goliath, is Perfect for the Job
I often hear the line, "I talked to .... (fill in the name of a BIG Bank) ... and they told me that they will give me a loan at(fill in a ridiculously low interest rate)". I wish I had a dollar for every time I've heard it.
When I hear that said, I know that mentally a line has been drawn by that potential client. I know that any conversation held and any information received will be compared to what the lender at the "BIG Bank" told them. Their info will be the measuring stick by which I am judged.
Why? That "BIG Bank"is a known name ... a franchise, if you will. And whether they are known for good or bad reasons, their name is familiar and easily recognizable.
Me? I work for American Portfolio Mortgage Corp. And while my company is well-known and trusted in the areas in which it is located at this time ... and growing quickly into being well-known and trusted in many more ... it still does not have quite the same name recognition that the "BIG Bank" has. (At least presently.)
But is that how you should choose your Mortgage Lender? And as a Mortgage Lender trying to earn your mortgage business, who am I competing with for your business? A bank name ... or just the one individual lender that happens to work for that bank?? I say in reality, it's the latter.
I believe, that as a potential mortgage client, you need to understand that it's the individual Mortgage Lender you choose that will make the difference in how easily and successfully you navigate your mortgage processing. It's the individual Mortgage Lender's experience, knowledge, education, work ethic, relationships (both inside their company and with other professionals), availability, and skills that directly influence the outcome and quality of your transaction. Not the name on the side of the building.
Many times I feel I am like David competing against Goliath. Small company against giant one. Seemingly insignificant against big and powerful.
But assess that epic battle and those two historic warriors. Appearances would have probably had you betting on Goliath to win the day. Appearances would have made the choice seem obvious. We all know how that turned out ...
Bottomline? Listen well when you speak with those you are considering for your Mortgage Lender. Ask lots of questions. Become thoroughly acquainted with the background and expertise of the individual Mortgage Lenders you are considering. Get referrals. Consider all you hear and what you have come to know of them and their history of service through your conversations with them and others. Then compare apples to apples.
You never know ... you might find that David, not Goliath, is perfect for the job ...
* Looking to Buy a Home or Refinance soon? Contact me today! I'll put my 36+ years of mortgage experience and expertise hard to work on your behalf.
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