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  • Lloyd White Jr. NMLS 119465

Stay Local: Online vs. Local Lenders


Buying a home is one of the biggest purchases you'll make in your lifetime, which is why the entire process is very personal. Although online lenders might seem appealing due to quicker approvals, these approvals may be conditioned with high interest rates and the lenders may not have the time to understand your particular financial situation. At Summit Mortgage Corporation, all of our mortgage lenders are equipped to assess loan programs that best suit your needs and goals. As a local lender, I am able to serve as a resource for my clients by knowing unique trends and costs of living for our area.


Market Trends. The residential housing industry is one of the most volatile markets our current economy faces. Interest rates and other important deciding factors can change in the blink of an eye. By choosing a local lender, you have the assurance that the mortgage banker you are working with is an expert about your area. Typically, most online lenders do not have correct or valuable knowledge about the area in which you are purchasing your home. Working with local lenders provides you with nearby experts to guide you along the home loan process.


Current Finances. Because a home is such a large financial asset, working with a local lender can provide you with thorough evaluations of all of your loan options. Many online lenders aren't concerned about your financial well-being or are helpful in getting you finances home ready.


Interest Rates. A big part of your mortgage will be understanding interest rates, how they affect your monthly payment, as well as the potential of rates rising or dropping in the current market. Many online lenders advertise low interest rates to attract clients, but cannot guarantee them. By working with a local mortgage banker, you are able to discuss all possibilities regarding your home loan and can be knowledgeable about your local housing market.


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Summit Mortgage Corporation NMLS 3236. Information is not guaranteed and should be verified. Licensed in CA by the Department of Business Oversight. Loans will be arranged or made pursuant to the California Financing Law. Questions and concerns may be directed to support @go-summit.comNMLS Consumer Access www.nmlsconsumeraccess.org. Not all applicants will qualify. ClarkCountyLoanPro.com and LloydWhite.com is a division of Summit Mortgage Corporation. Lloyd White, Jr. is licensed to originate loans in ID/OR/WA/CA. Equal Housing Opportunity.

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