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
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: http://www.a
bcloanguide.com/mortgageloans.shtml.