When it comes to home mortgages, there are many options out there. You can go to a conventional, neighborhood bank, your credit union, or the online companies that are advertising on TV. Lately there have been a lot of commercials about people applying for a mortgage in their underwear, or in a movie theatre from their smartphones. Companies like LendingTree and RocketMortgage really want your business and emphasize the ease and convenience that they offer.
Choosing which option to go with is very important, not only in the short term, with insuring that you will be approved for financing the home of your dreams, but also in the long term of living with a 15 to 30 year mortgage. So in this episode I talk again with local real estate Broker Lynn Stambaugh of Cardinal Real Estate Services to see whether the convenience touted by online mortgage companies comes with any downsides that you should consider.