Spotlight: Are you taking these unnecessary chances with your mortgage finances in Sudbury?

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Spotlight: Are you taking these unnecessary chances with your mortgage finances in Sudbury?
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Are you taking these unnecessary chances with your mortgage finances in Sudbury?

What can't we buy online nowadays? You can add mortgages to that list of online can-do's. Doing your entire mortgage approval online, whether your first one, next one or a renewal or refinance, can be a thing of beauty .

Digital-only service: who's handling your mortgage? If you look up the website of an online-only mortgage service, can you find or contact the agents who may be working on your mortgage? Digital-only services may rely on perfecting the algorithms that match a lender, product and rate to your mortgage needs, offering the promise of a 'team' of human help if you need it rather than a dedicated broker for your process.

"I've had clients come to us, frustrated with a digital-only mortgage company, where some of their details fell through the cracks and interfered with their approval process," explains Shawn. "I was able to help them quickly and thoroughly — sometimes entirely online — with an even better rate and more flexible product, while securing their mortgage funding in time to get their home. They saved money and were very grateful for our seamless service.

Homeowners who choose the standard 5-year mortgage term might only make it to about 3.89 years before making a change . So startups are making a good bet that more money's likely coming later and may try anything to capture your mortgage dollars .

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