| Applying for a mortgage online creates many | | | | 3) Online Mortgage Application Process is fast - You |
| advantages for the potential borrower. The major | | | | usually receive feedback within 24-48 hours. |
| benefits of using an online mortgage application stem | | | | 4) Online Mortgage Applications cover a variety of |
| from being able to use the power of the internet and | | | | loan types - typically the online brokers cover all the |
| get multiple quotes from creditors within a very short | | | | loan types available through regular brokers - home |
| period of time. The more loan choices one has the | | | | equity lines of credit, second mortgages, third |
| better chance of finding the best loan terms. | | | | mortgages, refinance loans, first time home buyer |
| Here a few key reasons to consider the online | | | | loans, sub prime loans for people with less than perfect |
| mortgage application: | | | | credit or bad credit, debt consolidation loans, no money |
| 1 ) No Drop in credit Score -There is no inquiry into | | | | down home financing. |
| your credit history - instead most online companies let | | | | Why not consider using an online mortgage application |
| you describe your credit history as accurately as | | | | if you are in the market for a mortgage or refinance? |
| possible. If you decide to proceed with that particular | | | | It's really quite painless. Point and click. If you go through |
| company then a full credit inquiry will be done. This is | | | | the application process and decide to halt the process |
| advantageous to you the borrower, because typically, | | | | there is no penalty or fee hence no financial risk to you |
| your credit score drops each time a credit bureau | | | | the potential borrower. |
| makes an inquiry into your credit history. | | | | The online mortgage application process will |
| 2) Loan Programs are easy to compare - Another | | | | undoubtedly save you time while at the same time |
| major benefit of the online mortgage application is that | | | | insuring maximum broker exposure to your potential |
| it will save you time. Once you apply, your request is | | | | loan. |
| sent out to hundreds of brokers who evaluate the | | | | We've been conditioned to pursue mortgages in the |
| loan. Typically 4-6 of the best offers will be presented | | | | traditional face to face manner with a broker - NOT |
| to you. This reduces the redundancy not filling out | | | | SO ANYMORE - the internet is leveling the playing |
| multiple applications and truly lets the market work for | | | | field and saving thousands of folks time and money - |
| you. No more need to meet face to face with multiple | | | | Borrowers Have the Advantage! |
| brokers | | | | |