You may think that applying online for a mortgage is the same as applying with a broker in the 'real world', only more convenient.
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 first.
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.
![]() |
|
![]() |
|
![]() |
|
![]() |
Well, we did it. We are buying a beautiful, brand... Read More
As a first time home buyer, there are several things... Read More
Buying a Home for the first time can be a... Read More
Most Americans tend to live on a paycheck-to-paycheck basis, and... Read More
With mortgage rates continuing on a downward trend, the competition... Read More
A stated income or no doc mortgage loan allows individuals... Read More
You can maximize your savings by shopping for a lender... Read More
If you have a recent bankruptcy on your credit and... Read More
No money down mortgage loans enabled more people to own... Read More
Why is it that some homes sit on the market... Read More
There are several advantages to getting mortgage pre-approval before looking... Read More
Homeowners facing foreclosure should be aware of unscrupulous lenders and... Read More
Okay, you've decided to buy a home and are trying... Read More
Homeowner - does this term catch your attention every time... Read More
In today's world, a borrower should not be paying mortgage... Read More
Choosing the right home equity loan can be tricky; you... Read More
There are hundreds of mortgage companies in the Jacksonville real... Read More
Home equity loans and home equity lines of credit continue... Read More
Getting a home loan with bad credit has actually never... Read More
A home equity loan can be an excellent way to... Read More
The investment need of an individual varies with time. Thus... Read More
USA ECONOMIC CONDITIONSToday's sluggish economy has left millions of people... Read More
Many homeowners are lucky enough to find a house that... Read More
Filing bankruptcy is a stressful time in a person's life.... Read More
When you are hunting for a mortgage, you will find... Read More
Tuition costs are climbing, housing costs are climbing, it seems... Read More
First time home owners are sometimes surprised at the complexity... Read More
With the low interest rates being offered by lenders today,... Read More
The booming real estate market has allowed many Americans to... Read More
There are at least two types of home equity loans.The... Read More
Have your home's appreciation grow twice as fast.For Seniors over... Read More
How does an ARM work.The borrowers interest rate is determined... Read More
Whether you're looking to buy your first home, or trading... Read More
Simply stated, a reverse mortgage is a loan that enables... Read More
A pre-approved mortgage is a must in a competitive housing... Read More
Faced with the threat of a foreclosure on their home,... Read More
Buying a home after a foreclosure is not an impossible... Read More
What is a mortgage? Here's what The New Merriam ?... Read More
As the term implies, with a fixed rate mortgage the... Read More
There are at least two types of home equity loans.The... Read More
Here is a useful guide to home equity loans. A... Read More
Obtaining a home loan is arguably the most expensive transaction... Read More
Buying and financing a home today can be overwhelming. Here... Read More
Home equity loan information can sometimes be confusing and misleading.... Read More
Using a home equity loan really depends on what your... Read More
Buying a home with poor credit is easier than ever... Read More
Whether you are planning to purchase a home for the... Read More
Just because you have negative items on your credit report... Read More
What happened to the days of a 15 or 30... Read More
There are many mortgage products available on the market today.... Read More
A capped mortgage is a variable rate mortgage with a... Read More
Many homeowners want to know if it worth taking a... Read More
If you have low income and are looking to get... Read More
Here is a useful guide to interest only mortgages. An... Read More
You've been thinking about buying your own home for quite... Read More
The information in your credit history helps mortgage lenders decide... Read More
This is an excellent loan for those that are lacking... Read More
Borrowing against the value of your home using a revolving... Read More
As interest rates have risen in the last six weeks... Read More
If you are a homebuyer, there are a few points... Read More
The housing market has been buoyant over the past few... Read More
With today's relatively low interest rates and climbing property values,... Read More
The process of obtaining a mortgage or home loan can... Read More
According to the Council of Mortgage Lenders, first-time buyers are... Read More
Today's real estate market is a volatile one; prices are... Read More
Searching for a mortgage refinance company can be a daunting... Read More
Mortgage Refinance |