Be Aware When Shopping for a California Mortgage Online
A spokes person for Home Loan 2Day, said, "Sometimes, these Internet services might work fairly well for certain people, but the one-size-fits-all approach they offer is going to leave a lot of people with loans that aren't the best for them, or even worse, they may be shut out of the process altogether."
"The problem with these services is that they never really get to know anything about your financial situation other than your credit history and income level so basically what winds up happening is that you're reduced to a number to them. And if they don't like whatever that number is, you're out of luck," he added.
Here are the three things that one should look out for when shopping for a California mortgage online:
* Most of the mortgage websites do not have the physical manpower to work with every individual borrower. This means you would not receive the attention you'd need for your unique situation. You would basically wind up with a bad loan since there was no one available online to check and see if they could have gotten you a better deal.
* If you have special financial circumstances, such as being self-employed or damaged credit, most of these sites would not want to work with you unless you meet their rigid criteria.
* It's also important to know if these websites provide advice when choosing between loan products. You don't want a website that is only gathering offers and throwing advertisements at you, making you feel pressured.
Here the solution:
Use the internet to educate yourself on the mortgage industry, and then work with a real human, or a well respected website where there is always someone to speak to.
Related Tags: debt consolidation, home equity, home loan, california mortgage
Lindsay Kaplan has over 5 years writing experience in the California mortgage market. She covers various mortgage topics nationwide including mortgage refinancing and debt consolidation.
Your Article Search Directory : Find in ArticlesRecent articles in this category:
- Understand The Fha Guidelines Before Considering Fha Mortgage
The U.S. economy was hit hard by the global financial meltdown. In the housing sector, the crisis is - Basic Facts About Multifamily Apartment Construction Loans
When you make an investment, you surely think of getting something out of it to make the deal profit - Commercial Mortgage Refinance Loan - Ideal Solution For Financial Problems
Financial security is something which we have to plan from before. In life, there is no certainty wh - Free Government Grant Money Eligibility Requirements
All of us hear about free government grant money. But what is involved in obtaining this money? What - Top 10 Tips On Buy To Let Mortgages And Property Hunting
If you are looking for an opportunity to invest your savings or any money you have come into, there - A Few Tips On How To Stop Foreclosure
In case you are facing certain financial catastrophe caused by a loss or relocation of a job, or wha - How To Stop Foreclosure And Lose Your Residence To The Bank
In today's market, there are more and more citizens that get big loans then they use their home as a - Most Excellent Way To Stop Foreclosure - The #1 Blueprint For Saving Your Home
Just what is the best measure to stop foreclosure? No doubt you are browsing for an answer to that q - Act Fast To Stop Foreclosure
If you would like to find out how you can put a stop to foreclosure, there is not much to accomplish - Tips For Buying A Home With No Money
There is a popular belief that you can only buy a home if you have great credit. This is false becau
Most viewed articles in this category:
- Mortgage Refinancing - Rate Caps Protect You When Refinancing With an Adjustable Rate Mortgage
Adjustable Rate Mortgages can save you money when mortgage refinancing if you fully understand how t - 100% Mortgage Loans: What You Need to Know
Coming up with a 20% down payment can be a difficult task for many potential homebuyers. If you are - Home Equity Loan Pitfalls
The home equity loan came of age in 1996 when changes in the tax law eliminated deductions for the i - Mortgage Refinancing: How the Fannie Mae Weekly Yield can Help You Comparison Shop
Mortgage refinancing without knowing Fannie Mae's weekly yield is like buying a used car without kno - How to Pay Off Your Mortgage in 7 Years, Without Extra Payments
One of the most exciting new topics concerning wealth is “How to Pay Off Your Mortgage in - Mortgage Rate Comparison
Trying to get an "apples to apples" mortgage rate comparison can often be quite a hassle. Traditiona - Should I Pay Off My Mortgage Early?
Many people think that real estate debt is good debt. They think that their mortgage is their bigges - Mortgage Refinancing: Beware the Mortgage Vultures
If you are in the process of mortgage refinancing you need to be wary of overpaying for your loan. - Mortage Loans - How Much Does It Actually Cost In The End
Mortgage loans are the loans used to finance most people's first home. It is the big loan that ever - Where To Locate Home Improvement Loan Companies
Where to locate home improvement companies is a question that arises from many different people. Som