How working with a local mortgage lender can help distinguish your offer

While every real estate situation is unique, our team has noticed that sellers often view offers from buyers more favorably if they’re working with a local lender -- especially someone who takes the time to vouch for them. Even if your offer isn’t the highest or it includes financing or has other contingencies, having a local lender as part of the transaction can help distinguish your offer in a competitive market. Online or out-of-state lenders can cause listing agents to worry about appraisers, communication, and accountability. Sellers want a smooth closing, and a local, knowledgeable, and service-minded mortgage lender can help pave that path early on. 

For example, the determining factor in Mad City Dream Homes REALTOR Jake Johnson’s clients recently getting their offer accepted was a call to the listing agent from Joe Long, a loan officer with Guild Mortgage Company. “I knew we were one of three in the running, so Joe let them know how our buyers were set up with financial strength and explained the conventional loan program value to the sellers,” Jake said. “This was the tipping point in our favor and clarified our position as the best candidate, giving the buyers a leg up to get to the closing table without hiccups.” 

Other members of our team have also worked with Joe and Guild Mortgage and seen favorable results for their clients. It’s part of Joe’s mentality to either call or send a video to the listing agent -- every time. Joe has been in the mortgage business for 15 years and enjoys providing value to buyers through education, consultation, and advocacy -- in addition to leading his five-person team at Guild Mortgage to do the same. Joe said his team underwrites their borrowers before they go shopping, which leads to the majority of their transactions closing in less than 30 days.

“The most important part of our job and the path to success is setting correct expectations and being honest and thorough,” Joe said. “For example, ‘this could go wrong and we have a solution for it.’ That’s key for agents and borrowers, because they trust that we can work through it.”

Here are some questions Joe suggests that you ask lenders before deciding who to work with.  

5 questions to ask potential lenders 

1. What can you as a lender provide me as a buyer to give me a competitive advantage?

2. Do you use a local appraisal tool or a national appraisal management company? 

3. Can you close a loan in 3 weeks or less? 

4. Is my loan fully underwritten? 

5. Has my documentation been reviewed by a person? 

Prior to becoming a real estate agent with our team, Jake also experienced the advantages of working with Joe when his family bought a home last year. “Joe worked through our entire financial picture and set us up for our future. I always refer to him because he knows the local market and numbers and has the creative solutions and expertise to make the lending process easy, not only for our clients to work through but also to understand,” said Jake. 

Contact Joe

Joe Long: Loan Officer, Guild Mortgage, NMLS #288316
Address: 17 Applegate Ct., Suite 100, Madison, WI 53713
Email: jlong@guildmortgage.net
Facebook: www.facebook.com/RefinanceMSN 
Phone: (608) 729-5379
Mobile: (608) 354-4171
Joe Long is authorized to do business in the state of Wisconsin. Guild Mortgage Company is an Equal Housing Lender; Company NMLS 3274. Guild Mortgage is not affiliated with Mad City Dream Homes at RE/MAX Preferred.