2. Accountability can be a problem – you really need to stay on top of things, which can be troublesome if you don’t know what you’re doing.

3. You may be getting deal that best suits their needs, not yours.

4. Sometimes you have to pay an application fee even before you know if your application has been successful – something that is not always case in ‘real’ world.

5. If things go wrong, and your online home loan mortgage provider doesn’t come through, there’s no formal organization you can complain to.

So, while applying for a home loan mortgage online may be a good idea, to keep your options open you may also want to talk with a real estate broker in 'real world' about applying for your home loan mortgage. That way you can make your final decision of who to go with when you are closer to locking in loan.

To see our list of recommended mortgage lenders online, visit this page: Recommended Mortgage Lenders

Veterans Administration (VA) home loan mortgage - VA home loans operate in very much same way as FHA loans do, big difference is that they are provided to veterans only. The most important document in a VA home loan application is your veteran’s certificate of eligibility. But, assuming you have this, you would need no money down. Interest rates tend to be lower than market rate with VA loans. Finally, those applying for VA home loans can find out automatically if their application has been approved.

FHA & VA home loans are great ways to get into a home loan if you have low income and meet qualifications.

To view our list of recommended online mortgage lenders, visit this page: Recommended Mortgage Lenders