Getting A Mortgage

Shopping around for a home loan or mortgage will help you to get the best financing deal. A mortgage - whether it's a home purchase, a refinancing, or a home equity loan - is a product, just like a car, so the price and terms may be negotiable.

Obtain information from several lenders. Home loans are available from several types of lenders - thrift institutions, commercial banks, mortgage companies, and credit unions. Different lenders may quote you different prices for your home loan, so you should contact several lenders to make sure you're getting the best price. You can also get a home loan through a mortgage broker. Brokers arrange transactions rather than lending money directly; in other words, they find a lender for you. A broker's access to several lenders can mean a wider selection of home loan products and terms from which you can choose. Brokers will generally contact several lenders regarding your application, but they are not obligated to find the best deal for you unless they have contracted with you to act as your agent. Consequently, you should consider contacting more than one broker, just as you should with banks or thrift institutions to make sure you are getting the best deal on your home loan.

The following networks will let you fill out a home loan application online and receive rate quotes:

LoanWeb.com offers one of the easiest applications online - they do not ask for personal information such as date of birth, social security number or drivers license number. After you complete their online form, they search hundreds of lenders and thousands of loan programs in their loan database database. Up to 3 lenders in your area contact you and compete for your business. You can choose the lender with the best loan terms and save money.

LoanApp.com offers a variety of home loans, including home equity loans, mortgages, home improvement loans, refinancing and other home loans. When you complete an application at LoanApp.com, your application for a home loan is sent securely to up to 4 lenders/brokers, who will contact you directly to bid for your business.

Is an online home loan marketplace where lenders will compete for your business. LendingTree.com offers mortgages, home loans, home equity loans, home improvement loans, refinancing and more. All perspective borrowers need to do is answer some questions about your home loan needs and you will then receive up to four home loan offers via email within one business day.

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Getting a mortgage
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