Get Pre-Approved For a Home Mortgage Loan Online – 3 Keys For Securing the Best Rates

Now, more than ever it is very fast and easy to get approved for a home mortgage using the Internet. Without having to leave your home or office, you can apply for a new mortgage online and have a handful of offers in a matter of minutes.

When applying for a loan online, simply follow these three easy tips to secure the best rates available:

  1. Start with a company that is reputable. Ask a few simply questions to determine if this is the case: Does the company have a professional looking website? Do they have a visible privacy policy that states how they will handle the information you share? Is there any type of online security that will encrypt the data you provide them to ensure it is not intercepted and stolen? Are they accredited by the Better Business Bureau? Has anyone you know used them in the past?
  2. Use a company that will provide you with multiple competing offers. This is the absolute best way to ensure you are getting the best rates available, along with the lowest possible closing costs. You should not have to authorize a credit report until you have narrowed it down to the best lender so there will not be a negative impact on your credit report. Instead, you can actually request several Good Faith Estimates that outline a likely interest rate and all applicable fees associated with the loan. With a handful of GFEs, you can quickly compare to find the best offers. Be sure to negotiate as you see fit, it is smart and expected.
  3. Be as accurate as possible with all of the information you supply for your application. This should seem obvious but it is surprising how many people try to fib on their application thinking they will get away with it. Your lender will have to verify everything you put on your application. Contacting previous and current employers, reviewing bank statements, pulling your credit history, among other things are all part of the process so save yourself some time up front and be as accurate and truthful as possible. This will also help insure all of your quotes are accurate, which will help you appropriately select the best option.

If you are looking for a new home mortgage or even a refinance, click here to get up to four competing offers in a matter of minutes.