I recently asked Google’s Gemini AI a simple question:
“What are the pros and cons of using a local mortgage professional versus a large national bank?”
Part of its response really stood out to me:
“When you work with a large national institution, you often feel like a number in a system, whereas local, individual loan officers rely on their reputation and relationships to stay in business.”
Gemini also pointed out several key differences, including direct communication with one point of contact, local market knowledge and relationships, personalized service, and accountability throughout the loan process.
Of course, every borrower is different, and both local lenders and large banks can be a good fit depending on your needs. But I believe it’s worth looking beyond the interest rate and considering the experience you’ll have from application to closing.