online lender or scam???????????

[Scott McGill]

I was checking out online lenders and kept seeing these guys ONE TRUE LOAN with crazy low rates. They currently will do 4.35% when rocket is at 4.75 and my local guy is at 5.125% for a $40,000 cash out refinance in Oregon. Are they a scam has anyone used them? they have 8 reviews on google and look good on the BBB. Just not sure with rates that low my red flags are going off. Any help would be great.

[Account Closed]

@Scott McGill Have you spoken to them over the phone? If not, I'd recommend that you have a conversation with them and voice your concerns. If they are a legitimate operation, they'll be willing to disclose how their business operates. Google reviews can easily be faked and I'm not sure BBB rankings carry much weight for these type of lenders.

That's a rather large difference in interest between One True Loan and your local lender, but there is a lot of value in having that local relationship - especially moving forward into the future with new possible deals.