As consumers in the age of the Internet, we are flooded with choices no matter what it is we seek to acquire. Need a new car loan and you have real world and online lenders; looking for clothing, shoes, electronics, and just about anything else, and you will find it online. This has even extended to mortgages and you can go to the Internet and find many online mortgage providers. Should you use them? That is the focus of this article.

What Experts Say About Real World and Online Lenders

Online mortgage providers appeared in the 1990s and have gone through periods of boom and decline. Are these somehow better than local lenders? If you look at sites like the FTC (Federal Trade Commission), they say that you will want to go for a loan where you are most comfortable and where you can get the best rates. They advocate that you always shop around as it "will help you get the best financing deal…You’ll want to compare all the costs involved in obtaining a mortgage. Shopping, comparing, and negotiating may save you thousands of dollars."

Pointing out that online mortgages are often convenient because they don't require normal bank hours and that they might extend a wider range of products, the FTC never formally advocates online over local lenders.

Face to Face Meetings Yield Better Results

In fact, experts do say that face to face meetings can be a much more comfortable approach to obtaining your mortgage, and that most real world banks have just as many or as competitive options where mortgages are concerned. Negotiating is far easier in a real world setting and that getting all of the important cost information is often best done when sitting down with your lender and reviewing the matter on a point by point basis. You can find out about rates, points, fees and all of the other details easier when dealing directly with the lender's agent.

Work With Local Lenders to Get the Right Loan

In other words, transparency, options, negotiation and finding the right loan for your needs may be much easier when you work directly with a representative at a local lending institution. At City Bank, or representatives are happy to work with you through every possible facet of finding a mortgage. From down payments and identifying the right sort of loan, to calculating monthly fees and closing costs, we have answers when you need them. To find out if which loans you qualify for and which are the best solutions to your home buying needs, get in touch with your local, real world lender.