The bad economy frightened us all. It caused everyone to become uncertain about banks of all sizes.
Now that the statistics are better, and everyone is recognizing more stability in the economy, we are seeing more confident, eager buyers in the residential market. However, new frustrations have emerged regarding the timeliness of closing a home – Closings at the big banks seem to have become a tedious process of approvals and delays.
Megabanks are becoming less and less popular due to the longer processing times required to close loans. There is new information showing that the employees who left small banks to find stability in megabanks are returning again. Why? Because they are able to get to closing faster. Efficiency is a good thing for everybody in a transaction.
The newest challenge is in finding a lending institution that can bring your home to closing in the timely fashion that you were accustomed to before the bad economy.
Sometimes it is easier to use local lending institutions for mortgages. Not only do they have the ability to help you close on your home faster, they also specialize in relationship banking.
Here are a few that I recommend in the Dallas area: