Purchasing a new home is more involved than it may seem. If you watch television commercials that have people seemingly push a button to finance their home purchase, you should know that obtaining a home mortgage is not that simple. The commercials sound like it’s as easy as buying a pair of shoes online, but unfortunately, that’s not the case. If you choose that “convenience”, you will likely pay much more than if you shop around and get several mortgage offers. Indigo Mortgage New Mexico is here to tell you why it’s important to steer clear of certain online home mortgage lenders.

Some mortgage lenders today treat one of the biggest financial transactions like you’re buying a pair of shoes online. Obtaining a home mortgage is a huge responsibility, and at Indigo Mortgage, it’s hard to see online lenders treating borrowers like digits in a computer.

Many questions don’t get answered when working with an online mortgage lender. Some of the important questions that a homebuyer might never ask (or get an answer) from an online lender: What are the points and fees? Is this the lowest rate I can qualify for? What mortgage program is in my best interest? Is there required mortgage insurance? Why do I have to pay mortgage insurance? There may be many more, especially if your home has covenants or is in a rural area. As you can see, when you’re purchasing a home and getting a home loan in place, many questions need to be answered. Sure, these online mortgage lenders make it sound convenient, but at what cost?

A local lender like Indigo Mortgage is equipped to do everything an online lender can do, but with a personal touch. Our team can answer questions, offer the best rates on the market, and be transparent about all costs. We urge borrowers to remember that procuring a mortgage differs from buying a pair of shoes online. When purchasing a new home, keep it simple and local. Reach out to the experts at Indigo Mortgage and remember to always shop your mortgage! We’re happy to provide an offer and to help you learn how to compare with other lenders.

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