Use of Local Banks and Mortgage Companies for Conventional Loans

[Ana Brasher]

I am considering several properties in Texas (Dallas, San Antonio, New Braunfels, Houston).  Would it be better to have relationships with local banks/lenders and mortgage companies or should I operate out of my area (primary residence).  Will "local" providers offer more attractive (or less attractive deals)?

[Zach Wain]

Hi Ana,

Local vs non local will not impact rates or pricing.  Each mortgage company from big to small sets their own profitability models and their rates are based off that.  I have the same rates for TX as as I offer in AZ, CA, etc.  Guidelines are the same as well.

What is 10x more important IMO, is to find a mortgage officer that you can partner with for the future.  Find someone with competitive pricing, but also market knowledge, experience, speed, customer service, and any other criteria you find important.