As with any lender, you'll need to check out the company offering the mortgage at a better rate. If the company is placing mortgage loans in your area, make certain they have the legal authority to do so. When you visit the website of an online lender, pay attention to several items. True, you can't always judge a lender by site design, but an attractive design with easy navigation and working links seems reasonable to expect. If you can't find anything about the company, don't apply.
Good information includes locations, states where licensed, and reasonable background information.
If things go bad too often a local firm will fail. There's a great big ocean of consumers out there, and one borrower is an insignificant drop of water. Compare local, regional, national, and online lenders. There are some bad apples online, but there are also unfair lenders off-line. For more articles by David Reed, please press here .