I've had similar experiences—transparency definitely varies. Local lenders often seem more invested in maintaining their reputation within the community, so they're usually quicker with clear, straightforward info. On the other hand, big national lenders sometimes have more streamlined processes but can feel impersonal, and details can get lost in the shuffle. Personally, I've found local lenders easier to hold accountable if something goes sideways, which can make a big difference when refinancing a VA loan.
I've noticed the same thing with local lenders being more responsive. Last year, I had a client refinancing his VA loan with a big national lender, and at first, everything seemed smooth—online portal, quick uploads, automated emails. But halfway through, some paperwork got mixed up, and suddenly he was stuck in phone-menu purgatory for days trying to get answers. Eventually, he got fed up and switched to a local lender I recommended, and it was night and day. Direct line to the loan officer, clear communication, and if something went off track, we knew exactly who to call. Big lenders can have great tech and streamlined processes, but when you're dealing with something as personal as your home loan—especially VA refinancing—having someone local who actually cares about their reputation can save you a lot of headaches.
That's interesting, but do you think responsiveness always correlates with lender size? I've had clients who've refinanced their VA loans through big national lenders without any hiccups—some even preferred the convenience of digital tools and automated updates. Maybe it depends more on the individual loan officer or specific branch rather than just local vs. national? Curious if anyone else has experienced smooth sailing with a bigger lender, or if my clients were just lucky...
Good points—I agree it's not always about lender size. A couple things I've noticed from my own experience:
- Big lenders often have streamlined digital processes, which can be great if your situation is straightforward. But if you hit a snag or have unique circumstances, sometimes responsiveness can suffer.
- Smaller lenders or local branches might offer more personalized attention, especially if your credit profile isn't perfect or you're dealing with unusual financial details.
So yeah, your clients probably weren't just lucky...but I'd still be cautious and weigh the complexity of your situation before deciding.
Interesting points, but have you considered that smaller lenders might not always have the best rates? I've found sometimes the personalized attention comes at a slight premium. Sure, responsiveness matters, but is it worth potentially paying more over the life of your loan? Just something to think about...especially if your financial situation isn't overly complicated.
