Frequently, we hear potential borrowers who say they are shopping their mortgage around and would like a second offer. That’s great, that’s what we’ve advised since Indigo Mortgage opened in 2003. Most commonly, when they tell us they’d like to see our interest rate and fees on their home loan, the other lender is a large national online lender.
You know the companies—their names make you think their rocket-fast or super-quick. These prospective borrowers tell us that once they received that company’s quote, these lenders are relentless, badgering to get a commitment to their mortgage offer.
We always tell borrowers, if a lender is pressuring you into a mortgage, is it for your benefit or the lender’s benefit? If they are pressuring a home buyer to commit, it’s because they don’t want the borrower to shop that mortgage around. Most likely, it’s because the interest rate they are offering is higher than other lenders are offering, or the rate they are offering comes with some hefty fees to buy down the interest rate. Either way, that home loan will cost you much more over the life of the mortgage.
Here at Indigo Mortgage, we encourage New Mexico borrowers to shop for the best interest rate and fees; borrowers should get the best deal they can get. We never ask to see the other lender’s offer until after we send ours and only then we can compare. We always give our best offer upfront.
If you are being pressured to commit to a mortgage offer, ask yourself if it’s because the loan offered is good for you or good for the mortgage company. Indigo Mortgage never operates by applying pressure. If we can be a resource for your home loan in Albuquerque, Rio Rancho, Santa Fe or anywhere in New Mexico, please give us a call.

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