Local Bank recommendations in Cleveland

[Mike Furda]

Does anybody have a recommendation on a local bank to work with in Cleveland or surrounding suburbs? I am looking to purchase my second property in 2021 and everyone stresses how using a local bank can provide advantages in mortgages or refi. 

For my first property, I got my mortgage through Cross Country Mortgage (15yr 3.375%). I brought up refi since mortgage rates have dropped, but they said that I would save under 1k through the life of the loan. I expected it wouldn't be worth it since my remaining principal is below 80k, but figured it wouldn't hurt to ask. 

I'm not looking for a bank to refi right now, just one to grow with as I add investment properties.

Any Cleveland bank suggestions and tips on what to look for when exploring local bank options are welcome. Thanks!

[Andrew Weiner]

Although the tech is better with the bigger banks I have appreciated the customer service of some of the smaller brokers/banks.  Also as your portfolio grows and you want to get into some commercial lending products, that’s where the small banks will really shine in my opinion.  If you just plan to have one to three properties it shouldn’t make much of a difference.