Question by Kris: Is there any good and legitimate mortgage lenders that offer refinancing online?
If I can get response from experience, that would be appreciated. Thank you.
Best answer:
Answer by Mike in Michigan
I’ve been a mortgage broker for a long time and I am one right now.
I do business online, but I am only licensed in Arizona and New Mexico.
I can tell you better if you tell me what state.
But, your best bet is always a local broker with a website. Always. Always. Always.
You will pay much more if you go through Lending Tree or Quicken or Whatever. Shop around, you’ll see that I speak the truth… Big online lenders can’t compete with a mom and pop shop.
Plus, the mom and pop company just sell your loan to a big bank anyway, so you have no more “risk” with a local broker.
Add your own answer in the comments!
There are ways to do it online, but at the same time the advantage of getting a mortgage through a larger lender is that you have someone you can always call if you have any questions, rather than e-mailing some random entity and waiting to get a response back in a reasonable time (hopefully).
Most lenders can do mortgages over the phone even. All it takes is you being able to fax/e-mail any necessary documentation over when the loan associate requests it. You two don’t ever have to meet.
So the advantage of that over online is that you have someone in a respectable, physical location that you can call and e-mail at any time and speak directly with. Whenever you deal online, too, there’s always a chance your information can get swiped (whether it’s with a reputable mortgage lender or not, there’s always a risk)