online mortgage versus a local mortgage broker

Many prospective home buyers or people wanting to refinance may have never done a mortgage application before or it’s been some time since they did an application. And because of today’s higher mortgage interest rates and uncertainty, borrowers can be uneasy about applying for a mortgage.

In an age of electronics and computers, it’s becoming a virtual and impersonal world and this can also cause anxiety in the mortgage application process.

Many experts agree that when applying for a mortgage, it’s better when it’s through a mortgage professional who can walk borrowers through the process and answer questions. Many of the large on-line, out-of-state and national lenders simply have application takers and not someone who is willing to take time and educate borrowers on the loan and the loan process. The application taker just makes sure all the paperwork is in place, their role is not to shop for the best rate or help find the best mortgage for your situation.

At Indigo Mortgage, we get phone calls from borrowers shopping their loan around and many times, we hear that we are the first one to explain the loan in such detail. With so many new rules and regulations affecting mortgages, it’s important for the borrowers to understand why they are being asked for certain documents and letters of explanation. It’s one thing to be told they must supply the information and quite another when they understand why they are being asked.

At Indigo Mortgage, we believe that working with a mortgage broker is much better than an application taker at an impersonal online bank. That’s because we are local and we take the time to talk with our borrowers to find the best mortgage rate and the lowest fees. We are not just application takers so if you’re looking for a new mortgage or to refi, call Indigo Mortgage today and see what sets us apart from other mortgage companies.

Be Ready for Lower Mortgage Rates Qualifications for a Bank Statement Loan