Frequently Asked Questions about Online Mortgages

Here are the answers to the most commonly asked questions about online mortgages.

What are the advantages of online mortgages?

Online mortgages offer several advantages over traditional mortgages.  For one, you can do all of your comparison shopping on one website, rather than having to run around from lender to lender.  Additionally, our application is free and paperless, which reduces the amount of time and hassle required to get a mortgage loan.  Finally, online mortgages can offer lower rates than those of traditional lenders because our lenders have to compete for your business. 

How do I get an online mortgage?

You can get online mortgages by clicking “start now” anywhere on our site.  This will take you to our short, free application for online mortgages.  The application will only take a few minutes to fill out, and you will be one step closer to receiving quotes from multiple lenders.

Should I even fill out the application for online mortgages if I have less-than-perfect credit?

Our lenders pride themselves on the flexibility of their online mortgages to include all types of consumers.  For those with credit challenges, our lenders are still willing to work with you to make homeownership a reality.  Though your rates might not be as low as those for someone with better credit, you can still qualify for many online mortgages. 

What kinds of online mortgages do you offer?

Our lenders offer all major types of mortgages, including fixed-rate, adjustable-rate, and subprime mortgages.  We partner with major lenders who can offer you the same range of products that a traditional, brick-and-mortar lender could. 

How big of a down payment do I have to make?

Though experts formerly recommended a down payment of around 20%, this standard no longer applies to online mortgages.  Our lenders can work with you on down payments as small as 3%.  Keep in mind, though, that the larger your down payment, the lower your monthly payments and interest expenses will be.  Try to make the largest down payment you can.

Should I request a fixed-rate or an adjustable-rate mortgage?

This depends on your individual needs and comfort level with fluctuating rates and payments.  Fixed-rate mortgages come with higher initial rates but offer fixed monthly payments and interest rates for the life of the loan.  Adjustable-rate mortgages can offer an initially low fixed rate for a certain time, which is then followed by a longer period where your rates and payments will fluctuate according to the market. To help you choose the length of your mortgage loan, see our Deciding on a Mortgage Term page.