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Stories of an Online Mortgage Company

Tuesday Aug 14, 2018
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Twice recently, our owner Ben Lucero was contacted by 2 different borrowers who reached out to one of the big online lenders. (We won’t name names but it rhymes with Pocket Mortgage.) They both told Ben that once they put the application in with the company, they could never get anyone on the phone; it was impossible to get any answers and they didn’t even know what loan program they were qualified for.

One of the borrowers said he finally threw in the towel when he found out they were charging $12,000 in closing costs and never gave him the details of why the closing costs were so high.

They’d both heard of Indigo Mortgage on the radio and decided to talk to someone local, so we were able to answer their questions, give them specific details on their loans, and our closing costs were thousands less than what the online company offered them. Now that may not be every borrower’s experience, but there’s no doubt that dealing with a remote company online is more difficult than with a company that you can drop by the office or reach directly on the phone when you have a question.

We always advise borrowers to be really cautious before engaging these online lenders as it might sound good in concept but the reality is much different. Think of it this way: Indigo Mortgage can do whatever these online lenders can do and most times even better. Why not just stay with a local mortgage company?

Indigo Mortgage is a locally owned and operated company, serving homebuyers in Albuquerque, Rio Rancho, Santa Fe and all across New Mexico. For questions about selecting a mortgage lender, contact Indigo Mortgage in Albuquerque at (505) 836-5700. Indigo Mortgage offers five mortgage divisions including Residential, VA Loans, Reverse Mortgages, Construction and Commercial. They are licensed by the Nationwide Mortgage Licensing System (NMLS #188348), and can provide loans anywhere in New Mexico.

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