Meeting a mortgage broker face to face its peace to the consumer, but with the rise of online mortgage companies, new homeowners are entirely comfortable applying for a home loan long distance. The larger group of online mortgage companies is Quicken loans.
For some consumers, meeting with a mortgage broker face-to-face provides peace of mind. However, the popularity of online companies shows that plenty of folks are entirely comfortable applying for a loan long distance. If you are looking for a mortgage or trying to refinance via the web, it is important to realize that not all loan originators have the same approach.
Whereas sites primarily act as Mortgage broker, sending your necessary information to multiple mortgage providers, Quicken Loans is a direct lender.
That has its pros and cons.
Using Quicken Loans means you will not receive an onslaught of e-mails from a broker trying to get your business. Moreover, your personal information gets into fewer hands, a big draw for privacy-minded customers.
It is hard to know whether you are getting the best rate if you do not have several bids being offered. Thus, if you approach more than one direct lender, there is more paperwork and queries to your credit report thus a waste of time.
One advantage of Quicken Loans is a choice. Offers … Read the rest...