Do I need to find a lender in the local market?

[Matthew Metros]

I am looking at multifamily investment opportunities in the San Antonio, Fort-Worth, and Austin areas. I am currently looking for a lender and I am wondering if it is advantageous to have a lender in each market.

I ask because financing seems to be nationally driven rather than market driven. So my point is that why would I need to have a lender in the exact market. If a lender is in Manhattan and he finances my deals in Texas, is there any downside? Is there a gap in my logic?