July 7, 2006, Newsletter Issue #23: The Fastest Way to Obtain a Mortgage Loan

Tip of the Week

Getting a mortgage loan has not always been the easiest of processes. When you borrow that much money, lenders want to examine you and your history with a super fine tooth comb. However, today there are ways to get a mortgage loan quickly and with no sacrifice in the quality of your rate, term, or closing costs.

The Internet has opened up new doors to mortgage loans that many lending institutions are taking advantage of. Because much of the lending process has been automated – credit checks, income verifications, applications – online lenders can take you from application to closing in as little as a few days. If you have a short closing date and want to get the fastest funding of a mortgage loan that is available, you should be checking online lenders and their websites. Start at search engines and look around for online mortgage loan providers.

Make sure that the site you choose can provide mortgage loans in your state. Most Internet lenders have multi-state capabilities, but many are limited. Filling out an online mortgage loan application takes almost no time and a representative from the site will get back to you quickly. Fill out a few from different sites so that you can compare the service you receive and the quality of the mortgage loan quotes that they provide.

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