DFW - Local Bank vs Big Bank

[Kevin Blouse]

Hey BP, I'm relatively new to this community and am hunting for a duplex in the DFW area to house hack. I've been looking up contacts for banks and other lenders and would appreciate your input for any good experiences or recommendations. As a first time home buyer, I would be looking at an FHA loan. Thanks in advance for your input!

[Bruce Lynn]

@Kevin Blouse I almost never like the big banks....timing is often very tough....people in the branches take the application but then send it away to some virtual place that does not answer the phone or respond to emails. If they miss your closing in this market, it can cost you a lot of money. I've had better luck with smaller lenders who better control the entire process. One thing you can ask any lender is if they have an on time closing guarantee and how they will reward you if they don't close on time. Some have it, some don't. You really want to close on time though, not get the reward. With all that said though, some of the big banks like BBVA have had some super cool programs depending on where you want to live that are awesome for first time buyers and financially might make sense and perhaps better than FHA loans. Happy to discuss different options with you.