Is it always better to have a local lender?

[Isaac C.]

Hi everyone!

My wife and I live in Dallas, Texas and we are new investors and new to BiggerPockets! We have been reading books/forum posts, attending webinars and listening to podcasts as much as possible! Just trying to absorb as much as we can! Definitely appreciative to this community and all the amazing content! 

We are currently finding a lender and we were wondering if anyone has used a lender that is not from the same state that they are planning to invest in? If we can get better rate/terms from someone that isn't local, then we should work with them? Or is it preferable if the lender is from the same state?

Thank you!

[Eric Bilderback]

I try to keep it local.  If it was a straight forward deal and the terms were say a 1/4 point difference I’d stay local.  If it is .5 I’d probably call the 1-800 and talk to the guy from Calcutta!

If it was complicated better to stay local.