The Real Reasons To “Shop Local” For Your Mortgage Loan

0206Shopping Local. Unless you’ve been hiding under a rock for a while now, you’ve heard the term. What began as a way to support local farmers while at the same time bringing healthier, chemical-free foods to our tables has turned into a national movement. The multiple benefits discovered by applying that “Shop Local” concept to the surrounding businesses in a community are widespread – and growing all the time.

1. Money That Stays Local Helps Your Community

Studies have proven that when people choose to spend their money with local merchants, for every $100 spent at a local business – $68 remained in that city (as opposed to only $43 if you buy at a chain retailer). The impact of that single fact is huge. Why? Because it helps your local business operate and pay employees, and that business in turn spends their dollars with other local merchants. That begins a cycle that recirculates more money locally, creates jobs, and supports the community as a whole.

Of course, when residents and communities prosper economically, that helps the housing market, too. More people employed = more homebuyers, and the overall effect stimulates virtually every segment of the local economy.

2. You Know The People You Do Business With – (and not just virtually)

We are an internet age. And if it seems that the click of a mouse and a few taps on a keyboard make doing business more ‘efficient,’ it also means that in reality, you have no idea who, exactly, you’re doing business with on the other side of that wireless connection. Unfortunately, it’s not just “The Good Guys” conducting that business (as we’ve all learned from the enormous amount of personal information that gets hacked around the world daily).

The contrast – to those nameless, faceless, “I-have-no-idea-where-these-people-even-are-in-the-world“ entities online – are your local merchants. (The key word being: Local.) You remember them: They’re the ones who live and work right in your town; they have an actual, physical office location; and it’s where you’ll find an experienced team of professionals that enjoy getting to know you personally while helping you find the products or services you need. Specifically when it comes to your finances – you need to know you’re working with people you can trust. What a concept!

3. Service Matters To Local Merchants

Ever had a problem with your cell phone bill and needed to contact your mobile phone company? Or how about the national TV satellite service you subscribe to? Don’t you just love those (800) numbers and the 7-8 times you get transferred around to different departments – only to get off the phone 30 minutes later having the same problem you called about in the first place?

It’s one of the reasons consumers recognize the following fact more and more every day:

When you do business with people you meet and get to know, you get better, faster, more personalized customer service that those huge international corporations can only dream of achieving.

It’s built into a local business owner’s DNA – because they know that if they don’t take care of their customers, they’re free to shop elsewhere – and that means the end of their livelihood. They can’t just choose to “close down the branch in this city because it’s not as profitable as our other offices.” This is their business, and this is their home. It’s likely your kids go to school with theirs, or that you belong to some of the same organizations. You live, eat, and shop in the same places they do. In short – you’re connected by virtue of the city you chose to live in – and that means you’re both in this together: Doing what it takes to keep your ‘home turf’ safe and prosperous.

4. Small Local Businesses Save You Money

It costs money to run a huge, multi-national organization. The fancy offices and the huge corporate staff. There’s a “department” for everything, and if it’s a public corporation – there are stockholders to answer to. Between the payroll, the multiple locations, the need for profits, and (let’s face it) – the bureaucratic inefficiencies that go along with huge companies and chain stores – there are a lot of reasons large business entities need to charge – you – more.

But take a look around you at your small, locally owned businesses — the ones where you get used to seeing the same faces every day – because, well, it’s their company. They have to run things more efficiently – which means the overhead is lower. In many cases, there’s a pretty direct line that goes like this: Customer Walks In Door and Works With Owner. Compare that to “The Big Guys” – where they have to cover all of these salaries for the one department that handles only what you’re shopping for: Employee, Supervisor, Manager, Department Head, Vice President, Regional Vice President. Ouch – Can you picture the size of that monthly payroll?

What’s more, small, locally owned business owners are real people – who know that you DO have choices about where to shop. So they’re likely to pass on all those operational savings and price their products to get – and KEEP – customers. The ones just like YOU.

Why Is This All Important For Your Mortgage Loan Needs?

We’re all bombarded with media images today – and the fact is, big banks and multi-national mortgage banks and lenders spend big bucks so they can pepper you repeatedly from every angle with their claims about “quick, easy, cheap mortgage loans.”

But many times, consumers choose that option only to discover at the signing table that what they’re getting isn’t what they bargained for. (For many reasons – the most important being that different types of lenders have different regulations to follow. For more about the differences between mortgage lenders, check out our previous article here.)

But what we’d like to help consumers and homebuyers realize is this:

All of the reasons we listed above for keeping your consumer business spending local to your community – also applies to getting a mortgage loan.

• Keeping money in your community

• Knowing who you’re doing business with

• Getting better and more personal service

• Saving money

This is one instance where your shopping decision can have a positive effect on both your community – and your financial bottom line. If that doesn’t sound like a recipe for finding the best mortgage loan – with competitive rates, lower fees, and premium service – then you haven’t worked with the pros at Premier Mortgage Lending yet. Because that’s exactly how it works with every customer, every time, right here in Las Vegas.

Premier Mortgage Lending is the home of the true “No Fee” mortgage loan. That means No: Loan Origination, Underwriting, or Document Fees. And you’ll still find the most competitive interest rates – so you may end up saving thousands of dollars on your mortgage loan.

Find out more at our website. Our series of short educational videos explain exactly what you need to know to save big money on your next mortgage loan – and know which questions you need to make sure you ask your next mortgage lender.

Premier Mortgage Lending, NMLS #393282, is located at 701 N. Green Valley Pkwy., Suite 125, Henderson, 89074. The full-service lender is a member of the Las Vegas and Boulder City Chamber of Commerce, Better Business Bureau and Southern Nevada Home Builders Association, as well as an affiliate member of the Greater Las Vegas Association of Realtors