Honestly, I’ve seen the same thing—sometimes the “local touch” is just a buzzword. I’ve had national lenders hustle for me, and local ones drop the ball. It really does come down to the individual you’re working with, not just the company’s size or location. The structure might play a part, but I think motivation and communication style matter way more.
I’ve run into the same thing—sometimes the “local” lender just means slower responses and more hoops, not better service. I do wonder, though, if anyone’s actually seen a big difference in rates or fees between national and local DSCR lenders. For me, cost is king, but I’m curious if the supposed “relationship” benefits ever really translate to better terms. Has anyone actually saved money by going local, or is it mostly just a matter of preference?
I’ve actually tried both, and honestly, the local lender didn’t give me any real break on rates or fees. If anything, the process dragged out longer. The “relationship” angle sounded good, but in practice, I didn’t see much benefit—just more paperwork. For me, national lenders have been more efficient and transparent on costs.
I get where you’re coming from—national lenders can definitely be more streamlined, especially if you’re looking for speed and clear-cut numbers. Still, I’ve seen a few situations where a local lender stepped up when things got complicated. Had a client whose property type was a bit outside the norm, and the local folks were willing to get creative on terms. Not always the case, but sometimes that “relationship” angle pays off when there’s a hiccup or something unusual in the deal. Just depends on what you value most—efficiency or flexibility.
Had a similar experience last year—local lender actually called me up to talk through my DSCR numbers when they didn’t quite fit the box. National lenders just sent an auto-rejection. Makes me wonder, is that flexibility worth the slower process? Sometimes I’m not sure which trade-off stings more.