When I bought my first house in 2019, I made a rookie mistake: I trusted an online mortgage company. It seemed convenient—quick approvals and supposedly low rates.
But the company hadn’t informed me the account for my down payment must have been open for six months—until the closing. I had to ask my 81-year-old mother to rescue me with $26,000. For all that stress, the company sent me a $25 Starbucks gift card…if I agreed not to leave a negative review.
When I share this story with Diane Selvaggio, a veteran mortgage broker at Mortgage One in Mount Clemens, she isn’t surprised. “Those moments can taint what should be an exciting experience,” Diane said. “A mortgage isn’t just about rates; it’s having someone who cares enough to guide you through every step.”
First-time buyers and seniors are the most vulnerable, Diane explains: “Young buyers lack experience, and older clients may struggle with the process.”
One veteran client was lured by an online company's slightly lower rate—but didn't see the $14,000 in hidden fees. Diane got him the same rate without the costs. “Some companies prioritize quick closes over the client’s best interest,” she notes.
So Diane cautions potential homeowners: do your homework. “You wouldn’t buy shoes online without checking reviews. Why trust a faceless company with the biggest purchase of your life?”
She says watch for these red flags:
- Shifting approval amounts: Sudden unexplained changes in buying power.
- Ghosting: You can't reach a direct contact.
- Pressure tactics: “Hurry up or lose the deal” approaches. “That’s anxiety, not expertise,” Diane said.
Mortgage One’s online platform blends convenience with Diane’s personal guidance. “I’m available after hours and on weekends," Diane emphasizes. "I’ll go through every document with you.”
Her clients testify to the difference Diane makes. A large, well-known online mortgage company asked Rene McClin for a $750 deposit before approving his offer—then withdrew the approval, because Rene’s wife had mistakenly bounced a check, and refused to return the $750.
“We were furious,” Rene recalls.
Their realtor recommended Diane, who Rene reports “got everything in order." Rene's advice? “Don’t deal with dot-coms. Human interaction is very, very important.”
Scott Trionfi tried five different online mortgage companies, without luck: “It seemed like they didn’t see us as people.” He says Diane “helped us when no one else would.”
These stories are what it's all about for Diane. “I’m not just helping people buy houses. I’m helping them build lives. That’s why I love what I do.”
Reach Diane at selvaggiomortgageone.com or (586) 612-6714