The internet and the ability to get a mortgage online have made it much easier for first-time home buyers and people who want to refinance their homes to get a mortgage in recent years.
There's also your local bank, where you can walk in, sit down with the branch manager, and ask him to set up a meeting with the bank's mortgage representative.
That's great, but not everyone has the time to do that. So, they turn to the internet, which isn't such a bad idea since there are thousands of lenders all over the country who use the internet to find customers like them.
Using the internet to get a mortgage online has its advantages because it lets you compare lenders and rates.
By filling out a simple online form with just a few pieces of information, lenders will be at your service within 24 hours.
The mortgage business is very competitive, so these lenders will have to offer you the lowest rates possible to get your business. You can then choose based on which one is best for you and, most importantly, which one fits your budget the best.
Also, if your situation is unusual or special, like if you have bad credit, no money to put down, or are looking for a specific programme like "interest only," the internet may be the best place for you to find what you need.
