Minneapolis, MN: When in need of home financing, most people have no idea who to turn to for their mortgage. Old school advertising, like radio and TV are still around, but in the digital age, we are now bombarded with ad's for mortgage companies all over the internet, and all your social media platforms, which can lead you to fall for the myth of better mortgage deals with big outstate internet lenders.
So is it good to use a big internet lender?
Will you get your loan? Sure, but the reality is that most mortgage deals from the big internet lenders are actually worse, not better, than your local mortgage lender.
Lots of advertising doesn't mean they have great rates. It usually just means they probably don't, as they have to charge you higher mortgage rates and closing costs to pay for all that advertising!
The next reality is you almost always end up working with low level unlicensed, inexperienced boiler room type Loan officers, versus fully licensed experienced Loan Officers.
With no local connections or knowledge of the community, this can also lead to bad advice, bad quotes, and a don't care attitude.
For example, here in Minnesota, we have something known as the Minnesota Mortgage Registration Deed Tax. It can be expensive. Did the guy on the internet know to put that on your Loan Estimate? I've seen plenty of quotes missing that over the years.
Big internet lenders also can't offer local first time home buyer down payment assitannce programs either.
Trust your neighbor, mortgage shop locally
Your best mortgage loan shopping advice is to avoid the big outstate online lenders, avoid the banks, and shop your local mortgage broker or mortgage company for the best mortgage rates and expirience.
Ready to get started? Simply call our Mortgage Loan Experts at (651) 552-3681, of APPLY ONLINE. Serving MN, WI, IA, ND, SD. only.
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Owned and operated by the family that provides luxury natural quartz surfaces, Cambria Mortgage is committed to the same standards of service, quality and integrity. A family-owned business in Minnesota, Cambria is the leading producer of quartz surfaces in North America. Cambria Mortgage is headquartered in Eden Prairie, MN. As a full service mortgage company, they offer a wide array of products, including Conventional, FHA loans, VA loans, Rural Development loans, and even Non-QM loans, like asset based loans, or bank statements for income proof loans for the self-employed. For more information, contact us. Joe Metzler, Loan Officer, MLS 274132 - Equal Housing Lender - Not an offer to enter into an interest rate lock agreement
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