Learn & Earn / Mortgage Financing / Next Topic
Internet Shopping Online mortgage companies such as E-Loan, iOwn, and Quicken Mortgage have the biggest head start in moving the home buying process online. Their sites have extensive content and easy application instructions. Although the online applications represent a small percent of the overall mortgage business, it is expected to grown exponentially. Mortgage.com released a set of guidelines to help consumers make the most informed online borrowing decisions. They suggest that consumers borrow directly from a mortgage bank, collect all the information needed to do an apples to apples comparison (points, interest rates, closing costs), use only lenders who are approved by HUD, Fannie Mae, Freddie Mac, and your state, and expect the same or better service as the brick-and-mortar banks, including being able to track your loan online. Here are some of the bigger online mortgage companies to check out:
www.eloan.com www.iown.com www.mortgageauction.com
Want to check rates? Try these:
www.bestrate.com www.bankrate.com
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