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Securing Financing for Real Estate

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Community Banks versus National Lenders

Recently, banking industry gnomes come up frequently in casual conversation. Everyone seems to have a horror story about their brother's cousin's friend's mechanic and a banking issue. While many of us have long standing relationships with banks and are are happy with our lenders, an equal number ofus seem to be distressed for one reason or another.

Community banks are often easier to deal with and more accommodating than large nationwide banks.Community banks have a vested interest in their local communities because they generate most of their deposits locally and make most of their loans within the community. Bank officers are typically involved inlocal affairs and activities and are accessible. Also, they know the nuances ofthe areain which they are located.

This can be helpful in dealing with Cape Cod issues such as septic systems, flood zones, water recharge areas and conservation restrictions. Furthermore, the decision making process is often more nimble than large corporate banks can provide.

Ultimately, when securing a loan we recommend thatbuyers explorelocal lenders. Finding the house and negotiating the price is only about 50% of the process. The other 50% is securing a loan and is often the least fun.Give us a whistle and wecan give you some names of goodCape Cod lenders.

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 Ed and Agnes are thoughtful, insightful, and responsive Realtors®. We have used their services many times--both selling and buying property--over the last 15 years. We have also referred them to other people, many times, with great results. They are completely reliable and trustworthy (as well as being highly organized) and they know the market well. We recommend them without reservation to anyone. 

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