TOP 10 REASONS TO CHOOSE A LOCAL MORTGAGE LENDER Presented by MSC Mortgage

1 Essential ExperienceAn out-of-market lender may not have experience in Florida. Be sure to find out the last time your potential lender closed a loan for the purchase of residential real estate here in the Sunshine State.

2 Appraisal AdvantageMany out-of-market lender’s must rely upon an appraisal management company (AMC) to select the appraiser for a property. These companies will often send the lowest bidding appraiser, from a location that may not be near or similar to your prospective new home – resulting in a less than favorable evaluation. The most dependable and qualified appraiser for the job will always be someone who knows and understands your neighborhood.

3 Condo ComprehensionLocal lenders are well-versed in the complexities involved with the condominium approval process in Florida. An out-of-market professional may not possess such a thorough understanding, which could delay the time it takes for approval.

4 Reliable Review Did your out-of-market loan officer provide your pre-approval letter after having your income and assets reviewed and underwritten? Or is your pre-approval based soley on a conversation with the loan officer? Working with a local team ensures you properly adhere to the requirements.

5 Pre-ApprovalProficiencyYour real estate professional, must be confident in the validity of your pre-approval letter before presenting the offer for contract. The in-house mortgage partner will provide a “second opinion” of your pre-approval purchasing power, securing your goals and offering a smooth, seamless experience.

A mortgage professional who truly knows the market is essential in securing a loan that is suited to your

needs. The following list of considerations will help you understand the possible disadvantages of using an

out-of-market lender, and guide you toward realizing the benefits of working with a local professional.

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MSC Mortgage, LLC is licensed by the Florida Office of Financial Regulations as a Mortgage Broker, License MLD-903. Rates, terms and availability of programs are subject to change without notice. Borrowers must qualify. MSC Mortgage, LLC corporate NMLS ID 1209513 | 844-890-8034 www.mscmortgage.com. All rights reserved. Equal housing opportunity lender.

844.890.8034 100 South Washington Blvd • Sarasota, FL 34236

TOP 10 REASONS TO CHOOSE A LOCAL MORTGAGE LENDER …continued

6 ConfidentCommunicationOur loan officers are located in our Michael Saunders & Company office, within reach at all times. You have full access not only to him/her, but also their manager. This places important resources at your fingertips, and means any questions or concerns will be answered immediately.

7 Licensed Lender Every one of our in-house mortgage loan officers has an active Federal and Florida state mortgage loan officer license. Does your loan officer with the out-of-market lender have an active state and national mortgage license that is registered with the NMLSR (National Mortgage License System Registry)? You should know that banks do not require nor allow their loan officers to have and hold an active mortgage license.

8 Critical Closing How familiar is your out-of-market lender with Florida closing costs? If you have a copy of the estimate of closing costs and fees that your loan officer prepared for you, let’s review it for accuracy. Accuracy in the estimate of your anticipated closing costs and fees is critical. Many of our buyers, let alone out-of-market lenders, are not aware that Florida is considered a high closing cost state.

9 Insurance Intelligence Homeowner’s insurance is an essential part of the process. It’s important to consider how familiar an out-of-market lender is with the options and the cost of such insurance, along with the scope of required coverage.

10 Cash Competition Housing inventory is becoming increasingly challenging, and cash is your biggest competitor. Entrusting your mortgage financing process to an out-of-market lender means you run the risk of missing your mortgage commitment date, and potentially losing the property.

We hope this information will be useful in assisting with your mortgage goals.