As a borrower, there are several options when it comes to purchasing a home. Financing a home with a mortgage is the most common route. From there, a buyer must decide where to get pre-approved and ultimately acquire the home loan.
Big banks are oftentimes the front-runners for mortgage loans since they are well known, and familiarity can win over a buyer that may already have a bank account with them. However, there are a few upsides to going with a private lender:
- Better Rates
- Custom Tailored Financing Options
- Faster Closing Times
- Communication
- More Flexibility
1. Better Rates
At Bluefire Mortgage Group, we offer more flexibility when it comes to interest rates and cheaper fees. We are less stringent when it comes to financing borrowers with less-than-perfect credit history or lower cash on hand – meaning our borrowers are getting the best possible rates compared to what big banks offer.
2. Custom Tailored Financing Options
Looking for a 27-year fixed loan term? How about a 13-year fixed term? We have you covered. Interested in recasting or offset mortgage financing? We can make that happen as well!
3. Faster Closing Times
Big banks tend to have certain lending requirements to uphold, and are very selective when it comes to how loans are underwritten. Big banks take longer when it comes to turning around loans quickly. At Bluefire Mortgage, our borrowers work with our team to ensure a smooth process, so each borrower gets one-on-one attention.
4. Communication
We provide a comprehensive loan status update to each borrower every Tuesday afternoon. By utilizing a smaller footprint and a commonsense, no-nonsense approach to loan underwriting, the complicated loan process is greatly simplified. As a borrower, you will have direct access to your loan originator and team to help walk you through the process.
5. More Flexibility
We work for you – the borrower – not any specific financial institution or bank. Our objectives and goals are aligned with the clients’ personal mortgage loan needs. This gives us flexibility, as we are not weighed down by bureaucracy or unnecessary red tape.
If you are looking to purchase and have any questions about the financing process, please give us a call at (760) 930-0569 and one of our loan officers will assist you.
