While homeowners place a great deal of emphasis on rate and closing costs when choosing a mortgage lender, there is one important question to ask – Does the lender offer local mortgage servicing? At Blackhawk Bank, we do !*
The benefits of local mortgage servicing begin almost immediately. During your initial Blackhawk Bank mortgage application, the process is less complicated and clearer guidelines are provided. In contrast, when a lender sells their servicing to larger banks or investors, they can have additional guidelines which can make it more difficult to qualify for a mortgage.
Local servicing gives our Mortgage Planners more control over the mortgage process, including meeting timeframes and allowing flexibility.
With non-local and out-of-state lenders, you run the risk of your payment not being processed by its due date. But, when you have a locally serviced mortgage through Blackhawk Bank, we process your payments right here at home. Whether it’s in person, through our Online Banking, or by mail, you can guarantee your payment will be processed in a timely manner.
Many customers prefer that their property taxes and homeowner’s insurance be rolled directly into their monthly mortgage payment. These added payments are separated from your mortgage balance and placed into an escrow account for the bank to pay when your insurance and taxes are due.
As a local lender, Blackhawk Bank knows the details of when property taxes are due and where they are to be sent. This allows us to be diligent in making sure that we have taxes paid when they are due. In addition, we have the capacity to remain actively involved in the payment of homeowner insurance policies.
If you have questions on your mortgage, a Blackhawk Representative is just a phone call away. Better yet, you can stop by any Banking Center to speak with someone in person. With an out-of-town lender, you don’t have that option.
Being local gives us the benefit of resolving issues and answering questions in a timely manner, which helps you get what you need faster.
If you would like to experience the benefits of a locally serviced mortgage, contact one of our Mortgage Planners today.
*Servicing for Conventional and Portfolio Mortgages.