'Quick' ain't always better

For as much as I try to write educational articles, this one is self-serving. Actually, it could be of service to you, too, if you do your homework.

That online lender, the one none of us can get away from? The one that spams you with emails, or calls you relentlessly, if you have ever inquired with them? The one that thinks that getting a home loan is not rocket science?

Well, getting a home loan IS rocket science these days. Getting a home loan that best suits your family's finances, that uses your assets and leverage to your best interest, IS something that requires more than your thumbs and a screen.

To boot, in yet another rate and costs survey, they are not always the best deal out there. When comparing VA loans at the end of January, yours truly costs less than half of that on-line lender. In the example I looked at, their closing costs are almost $10,000 – mine are near $5,000.

And in comparing conventional loans, my closing cash was $2,500 less than that online offering. Figures are available for your review on request.

When you are in the market for home financing, whether to buy or refinance, please compare locally. You'll get a real live person you can reach on a direct line or in person. You'll get a full analysis of your transaction to help decide the best way to go. You'll get your mortgage advisor signing loan docs with you, instead of someone who can't double-check to make sure you got the loan you applied for. You'll get the help of a concerned neighbor who really is working for your best interest.

Tammy Engel is your local Mortgage Advisor. She's been working statewide for your best interest since 1990. Reach her at 661/822-7325 for help with your next purchase, refinance, and reverse mortgage.