Funny you mention closing costs—last year I nearly walked away from a deal because the “low rate” lender tacked on so many junk fees it wiped out any savings. Local banks can be slow, but at least you know who to call when something gets weird in underwriting. Curious if anyone’s actually had a digital lender come through on a tight timeline? I keep hearing mixed stories, but haven’t risked it myself.
Digital lenders can be a mixed bag, honestly. I had a client last spring who needed to close in under three weeks—he went with a big-name online lender promising lightning speed. The rate looked great, but the closing disclosure was packed with “processing” and “expedite” fees that added up fast. We ended up switching mid-process to a local credit union. It took a few days longer, but at least the numbers stayed put and we could actually talk to someone when things got weird in underwriting. Sometimes that peace of mind is worth more than shaving off an eighth of a point.
I get what you’re saying about peace of mind, but honestly, I’ve had the opposite experience. My last refi was with an online lender and it was actually super smooth—no surprise fees, and I barely had to leave my couch. Maybe I just got lucky, but the convenience and lower rate made it worth it for me. Guess it really depends on the lender and your tolerance for a little risk.
I hear you—online lenders have definitely upped their game lately. But I’ve seen a few clients run into headaches when something unexpected pops up, like a weird appraisal issue or a document mix-up. In those cases, having a local contact who knows the ropes can make a world of difference. Not saying online isn’t great for some folks, but sometimes that “human touch” saves you from a lot of back-and-forth emails and stress. Guess it’s all about what you value more: convenience or that extra layer of support when things get bumpy.
Couldn’t agree more about the value of having someone local in your corner when things get complicated. During my last refinance, I went with an online lender for the rates, but when the appraisal came back lower than expected, it was a headache trying to get answers. I ended up wishing I had someone nearby to just talk things through. Convenience is great, but sometimes that personal connection really does smooth out the bumps.
