Are Online Mortgage Lenders the Best Way to Buy a Home? A Reality Check
Tai Bixby, SIOR, CCIM
Director @ Real Estate Advisors | Commercial Real Estate
By Daniel Bortz
Jan 12, 2018
Online mortgage lenders such as LendingTree and Quicken Loan's Rocket Mortgage allow home buyers to complete the entire mortgage application on their laptop or phone, rather than heading to a bank to submit all that paperwork in person.
Online mortgages are growing in popularity, particularly for younger home buyers: One recent survey by NerdWallet found that a full 64% of millennial mortgage applicants would prefer to get it all done digitally.
While it's hard to beat online mortgages in terms of convenience, home buyers should know that there are both advantages and disadvantages to financing a home purchase in this manner. Here are the pros and cons—and how to decide whether an online mortgage lender is right for you.
Pro: It's easier to comparison shop...
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