Buyers April 15, 2022

Why a Local Lender Can Make a Huge Difference

Looking to buy a home but worried about this competitive seller’s market? There are many steps to take that can set you apart from the competition. One of those can be using a local lender. A great local lender can be very advantageous. We’ll explain why with insights from some of our real estate experts.

A Personalized Approach

Before going to a bunch of open houses, you need to get pre-approved for your loan. While your existing bank is an option, along with many online providers, a good local lender offers personalized service. Buying a home can be a stressful process and it will likely be the biggest purchase you ever make. So, you want to work with people who can easily answer your questions on the phone or in person. This is especially helpful if you have a complicated situation or if you’re a first-time homebuyer.

Their Reputation Matters

A local lender lives in the community where you’d like to buy a home. So, their clients’ feedback and their reputation mean a great deal to them. Do your research and choose your lender carefully. “Buyers need a strong reputable lender in their corner more than ever!” says Audrey Newell, Broker/Realtor. “To make your offer stand out, make sure your lender has a well-earned reputation for being responsive and getting loans closed. Local lenders make all the difference. I encourage ALL of my Buyer clients to choose their lender with great care.”

Build Trust and Confidence

A local lender is appealing to sellers and to their real estate agent because everyone wants the process to go smoothly. Local lenders have better reputations when it comes to closing on time. Therefore, using a local lender builds trust. This is especially important if you’re trying to win in a multiple offer situation. While there are many factors, a trusted local lender could be the difference between getting the house or not. The sellers or their agent may be put off by a national bank or online lender if they’ve had a bad experience with them in the past. Managing Broker Amy Allen says, “I always encourage buyers to work with a local lender for various reasons. Most importantly, I want their offer to stand out in this competitive market! In our small community, listing agents have had experience working with one of our fantastic local lenders, and they can be assured that we’ll get closed on time!”

Penrith Home Loans works hard to offer the best local financing options to Windermere clients,” explains Cherie Kesti, Penrith Branch Manager/Mortgage Consultant.  “The long reputation of Penrith as a local lender is instrumental in helping the Real Estate Brokers and their clients gain a sense of confidence that their transaction is going to close on time, with the best financing options available, the highest level of communication, integrity, and ease. I’ve known sellers who picked a Penrith-approved buyer amongst a myriad of offers because they had a past positive experience with Penrith and knew their transaction would close as agreed.”

Here at Windermere, we’re proud of our partnership with Penrith Home Loans. Real estate agents like Bonnie Chandler can attest to Penrith’s benefits. “I have referred many of my clients to Cherie Kesti of Penrith for many years. They are so appreciative of her knowledge in lending and her wonderful attention to them in providing excellent service.”

Local Expertise

A local lender knows our real estate market very well. And, Forrest Arnold, Broker/Realtor, points out, “A nearby lender is familiar with the area. They may well provide the best rates and a smoother appraisal/loan process than a distant national bank. And, many loan sources will have their local specialty (such as land loans, construction financing, or VA loans). So, we at Windermere help our clients to find the local lender that will be the best match for their needs.”


For more home buying tips, check out our First-Time Home Buyer Checklist and our article “What I Wish I Knew Before Buying a Home”.