Nobody likes paying too much for something.  The general mind frame is, “Why pay more for the same product?”  While I agree with this statement when it comes to commodity products where you can literally buy the exact same product at a multitude of locations.  This is not the case though in a service related industry.  If you needed heart surgery, would you go online to find the best deal? Of course not; you would do research, talk to experts and find who is the best at fixing a damaged heart. Or what about something simpler, like choosing a mechanic.  Do you go to the guy who will do it the cheapest or the guy who you know you can trust?

A mortgage is a mortgage.  Most companies offer the same programs and because of competition, most rates and fees will be similar too.  But what about getting the mortgage?  This is where the real differences are.  There are many important factors is choosing who to work with to get a new mortgage, and most of them are not about cost.  Will my loan officer call me back in a timely manner? Will they answer all my questions so I can understand them? What role will they play after my mortgage is closed?  These questions and many other questions play a vital role in choosing a good mortgage lender but the most important question of all is, “Will my loan officer deliver what they promised?”

We have all my decisions in the past based solely on cost.  Some of these decisions worked out fine but many did not.  Getting a mortgage will be one of the most complicated things a person will go through in their life.  It is a big decision that will impact you for years to come.  Choosing a mortgage lender my not be a serious a choosing a heart surgeon but it is a very important choice to make.  Just because something is cheaper, doesn’t mean it’s a better value.