It’s like, one minute you’re best buds, next minute they’re ghosting you because someone in the back office got nervous.
Right? Had a local lender once who was all-in until their “credit guy” decided my yoga studio tenant was too risky. Suddenly it’s radio silence. Sometimes the big banks are actually less dramatic. Go figure.
I’ve run into that too—one lender was all-in on a rental refi until their underwriter freaked out over a single late payment from the tenant’s business. Whole deal just evaporated. But then, with a national bank, the process was slow but at least I got a clear yes or no. Maybe it’s just me, but sometimes the “personal touch” at local lenders comes with more unpredictability. Anyone else notice that the local guys can be more conservative than you’d expect?
Yeah, I’ve seen that too—local lenders act like they’ll work with you, but then one weird detail and they pull the rug out. Honestly, I kinda prefer the big banks for this stuff. Sure, it’s slow and you’re just a number, but at least you know where you stand. Local places talk up flexibility, but in my experience, they’re more likely to get spooked by minor issues. Guess it depends who you get, but I don’t count on the “personal touch” saving me any money or hassle.
“Local places talk up flexibility, but in my experience, they’re more likely to get spooked by minor issues.”
- 100% agree on the “spooked” part. Had a local lender bail because my W-2s didn’t line up *exactly* with their template.
- Big banks are slow, but at least you know the hoops up front.
- “Personal touch” is nice until you need an exception—then it’s just more phone tag.
- Only time local worked for me was when I knew the loan officer personally... and even then, it was dicey.
- At the end of the day, I’ll take predictable over “friendly but flaky.”
Yeah, I get where you’re coming from. Local lenders always promise they’ll “work with you,” but the second your paperwork isn’t textbook, it’s like you’re radioactive. I’ve seen clients get tripped up by the smallest things—one guy’s bonus structure threw a whole deal off. On the flip side, the big guys might be rigid, but at least you know the rules. Still, every now and then, a local will surprise you... just wish it happened more often. You’re not crazy for wanting something predictable.