In a vast—and largely digital—lending landscape, big banks and FinTechs often hog most of the financial glory. They’re more visible and have slick advertising that suggests they’re the best and safest bet for a person’s financial future. But there’s an itch larger financial institutions can’t scratch for many consumers. That’s where smaller financial institutions have an opportunity to shine.
These institutions (think community or regional banks and smaller credit unions) often play an underrated role as preferred lenders, particularly when it comes to home loans, but they have unique qualities that can make them an ideal candidate when it comes to getting the keys to a dream home.
In this blog post, we’ll examine why these banks shouldn’t be overlooked, explore some advantages they can offer to consumers, and discover why they matter now more than ever.
Getting personal with home loans
Small financial institutions that are embedded in the communities they serve are renowned for their personal touch in customer interactions. Unlike their large counterparts, where patrons can feel like little more than account numbers, these banks understand the needs of their community members and prioritize relationship building. When applying for a home loan, this approach can make all the difference.
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