fact vs fake image

Recently we have been talking about some of those big internet lenders like that one that should be called Veterans Divided, and another, the Pocket sounding lender. These large national mortgage lenders aren’t the best option for many homebuyers. Here are a couple of examples, what we think shows the proof is in the pudding for who offers the best mortgage deal.

Recently we locked a veteran into a rate for his upcoming home purchase. He got a call a day later from that “Veterans Divided” lender and they promised him a lower rate. That veteran went with that other offer.

However, he called us back a few days later and said that the lender lied to him; once he got the written offer and read through it, the interest rate was actually way higher than ours and the fees were double. They came back to us and we closed their loan. Our loan will save them thousands of dollars over the life of the mortgage!

We had another borrower shopping their loan and got a quote form the “Pocket” sounding lender — their rate was a full percentage rate higher than ours and had a few thousand dollars more in fees. When the borrower said they were going with Indigo Mortgage, that “Pocket” lender hammered them, saying they would match our rate in a high-pressure sales pitch. However, it didn’t work and we are closing their loan in the next few weeks.

We always advise shopping your mortgage and comparing not just the mortgage interest rate but the fees. We’re happy to help you evaluate your offers. Again, we advise to be careful with those big national lenders—with all the national advertising they do, they have to pay for that and often their rates and fees will be higher than an Albuquerque mortgage company. This is why we say the proof is in the pudding!

Qualifications for a Bank Statement Loan