Online Mortgage Brokers - What You Might Not Know About Home
Loans & The Internet
You may think that applying online for a mortgage is the same
as applying with a broker in the 'real world', only more
While applying for a mortgage online is much more convenient,
and sure to help you get a lower rate because of the amount of
competition online, there is another benefit to using the
internet when applying for a loan.
Sometimes when you meet a broker and he/she takes a look at
your financial qualifications, they might say, we can get you
this rate. And that's it. That is your loan option with that
broker. Most brokers have the mentality of wanting to process as
many mortgage loans as quickly as possible, which is
understandable. Well, one thing that you might want to know to
help yourself out is that there are literally hundreds of
different mortgage programs available. Most brokers and lenders
will not explain to you the mortgage options you do have. They
usually have a few favorite programs and will just use those over
and over since they know them.
A great way to help yourself is to research loan programs
online. One benefit of the interne is that there are many
informative articles and information to help you understand the
pro's and cons of every kind of loan program, FHA loans, balloon
mortgages, VA loans, graduated payment mortgages, Fannie Mae and
Freddie Mac loans.
Once I started doing my research online and reading through
the mortgage company websites online, I was amazed to discover
that there are mortgage loans online that I would have liked to
had when I first bought my house, but I didn't even know they
existed and they were never offered to me by my broker. I would
have saved myself a lot of money had I done my research online
To view our list of recommended mortgage lenders online, visit
this page: Recommended
Mortgage Lenders Online.
Carrie Reeder is the owner of ABC Loan Guide, an
informational website about various types of loans.
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