Working With the Largest Mortgage Lenders

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Working With the Largest Mortgage Lenders In St Louis MO

Time to get a mortgage? You better be sure because it’s a pretty major decision. So, you’ll have to be sure that it’s indeed the right time to finally go and get a mortgage. But the question is – which mortgage lender in your city are you going to work with?

When it comes to obtaining a mortgage for a home purchase or refinance, you have a multitude of lenders to choose from. While small, local lenders and mortgage brokers can sometimes offer competitive rates and personalized service, there are several advantages to working with one of the largest, nationwide mortgage lenders.

Plentiful Loan Products and Options

The biggest mortgage companies have access to a wide array of loan products to fit any borrower’s needs. Whether you’re looking for a conventional, FHA, VA, USDA, or jumbo loan, they’ve got you covered. They can easily accommodate unique situations like investment properties, second homes, new construction, and more.

In addition to various loan types, mega lenders offer a vast selection of mortgage terms, from the standard 30-year fixed to adjustable-rate options, interest-only loans, and everything in between. The more loan options available, the easier it is to find the right mortgage to fit your budget and preferences.

Competitive Rates and Fees

Thanks to their sheer size and economies of scale, the largest mortgage lenders can afford to offer exceptionally competitive rates and fees that smaller banks have difficulty matching. They have the advantage of operational efficiency and the ability to securitize more loans to keep costs down and pricing sharp.

For borrowers, these lower rates can result in huge savings over the lifetime of the loan. Even a small difference in the mortgage rate of 0.25% can mean tens of thousands of dollars on a large loan amount over 30 years. Top lenders are able to price aggressively to attract a high volume of business.

Faster Closings

Efficiency is key for major mortgage lenders. With teams of specialized loan officers, underwriters, closers, and funders, they are able to streamline the process to close purchase loans quicker than most. This is especially beneficial in competitive real estate markets where things move at lightning speed.

The last thing anyone wants is to lose their dream home because the mortgage can’t be finalized in time. National lenders have mastered the art of rapid loan processing to get borrowers to the closing table faster while still maintaining strict underwriting standards.

National Presence and Online Capabilities

Mega mortgage companies have hundreds of local branches spread across the country, making it easy to locate a loan officer in your area. But their service isn’t limited by geography. With robust online channels and nationwide lending credentials, you can secure a home loan from the comfort of your living room if preferred.

Borrowers can typically apply for a mortgage completely digitally without ever stepping foot in a physical office location. This offers the ultimate in convenience for busy buyers. Even if you plan on working with a local loan officer, having the option for digital services provides more flexibility.

Suite of Financial Services and Longstanding Reputations

While mortgage lending tends to be their bread and butter, major banks offer customers access to a comprehensive list of additional banking services like checking and savings accounts, personal loans, auto loans, credit cards, investment accounts, and more. This allows you to merge all of your finances together under one roof for streamlined banking.

Established reputations and longstanding presence in the industry are part of what make the biggest mortgage lenders so attractive. Companies like Wells Fargo, Bank of America, Chase, and others have built their names over decades of responsible lending. You can have peace of mind borrowing from lenders with proven track records and financial strength. Lesser-known companies can pop up overnight and disappear just as quickly.

No mortgage lender is perfect, but working with one of the largest, most reputable players tends to deliver an ideal combination of low rates, efficiency, digital capabilities, financial resources, and an unparalleled selection of mortgage programs. When you’re taking out a loan for what’s likely your largest asset and biggest monthly expense, it pays dividends to have a lender you can depend on at your side.

You might want to get help from one of the largest St. Louis mortgage lenders with getting a mortgage. Our company – St. Louis Mortgage Consultants, is here to give you that help. We have resources and programs that will provide you with the best advice so you won’t get confused and will make the right decisions.

Ready to talk?

We’re available 7 days a week. Give us a call at (636) 861-3279.