*Loan,banking and credit>>>online banking

Have you used an online bank like the Money Store for your mortgage?

Have you used an online bank like The Money Store for your mortgage?
I'm considering purchasing a home and need to find a mortgage. The Money Store offers a 6% fixed rate, 30 year mortgage with no closing costs. Is this a good deal? Are there any gotchyas to the "no closing costs"? I thought that the slightly higher 6% rate would not be bad considering we might not stay in the home long and we tend to pay off our debts pretty aggressively. (having just paid off our rental property this year).

I don't do anything on-line, they are too inaccessible.

T'were me I'd use a local bank that has been around for a long time. AND I'd be sure to ask if they sell mortgages to other institutions.

If they say yes! Run, don't pass go, don't collect $200.00. Look for another bank that holds their mortgages in-house.

The last thing anyone needs (in my opinion) is to discover that their 30 year mortgage has been passed on to some institution that you know nothing about.
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