"Sometimes you just gotta factor in your sanity...a smooth experience can be worth way more than saving a few bucks each month."
Totally agree with this. Had a client last year who was laser-focused on finding that absolute rock-bottom rate. She ended up going with a lender known for being notoriously slow and disorganized. I warned her upfront it'd probably be a headache, but she figured she'd deal with it to save some cash.
Well, fast forward a few weeks, and she's calling me frustrated—stressed out by endless paperwork requests, missed deadlines, and zero communication from the lender. Eventually, she switched to another option with slightly higher rates but way smoother processing. The relief in her voice was noticeable.
Honestly, when you're dealing with something as big as buying a home, peace of mind counts for a lot. Saving money is great, sure—but sometimes it's worth paying a bit extra to avoid losing sleep over the process. Glad your client figured that out midway through rather than sticking it out till the bitter end.
Completely agree with you both. When I refinanced last year, I initially got tempted by a super-low rate from one of those online lenders. But after reading some horror stories about delays and poor communication, I decided against it. Ended up choosing a local lender who was slightly pricier, but the whole process was smooth and stress-free. Honestly, having someone responsive who actually answers your questions clearly... worth every penny in my book.
"Ended up choosing a local lender who was slightly pricier, but the whole process was smooth and stress-free."
Yeah, I get that. When I bought my first home last summer, I almost went with one of those online lenders too—rates were tempting. But then a coworker shared how their closing got delayed twice because of paperwork mix-ups. Decided to stick with someone local who came recommended by family. Sure, it cost me a bit more, but knowing exactly who to call when I had questions made the whole experience way less stressful.
Interesting to hear both your experiences. I've mostly stuck with online lenders myself—haven't had any major hiccups yet, thankfully—but I can definitely see the appeal of having a local contact. Curious though, did either of you notice a significant difference in responsiveness or flexibility between local and online lenders when unexpected issues popped up? Always wondered if local lenders really have that much more leeway...
I've wondered about that too, actually. From what I've heard from friends who've used local lenders, the responsiveness can be pretty impressive, especially when something unexpected comes up—like appraisal issues or last-minute paperwork snags. One friend mentioned their local lender was able to quickly pivot and sort things out when their appraisal came back lower than expected, which saved them from losing the house. On the flip side, I've also heard that some online lenders can be surprisingly agile, since they're used to handling high volumes and have streamlined processes.
I'm curious though, for those who've had hiccups with online lenders, was it more about the communication itself being slow, or was it more that they just didn't have the flexibility to adjust terms or timelines when things got tricky? Always interested to hear how these situations actually play out in real life...
