Here are some of benefits to doing your home loan refinance online:
Everything seems to happen faster - Online, when looking for a mortgage loan you can search around, fill out an application and a few minutes later, you can be receiving a pre-approval letter via email. There was no calling, no driving & no waiting on hold for an answer. The mortgage company will usually contact you quickly and give you all information you need to move forward.
You will be more informed and make better decisions - People nowadays that use internet as consumers, use it primarily to make better purchasing decisions. If you are sitting at home on couch with your phone book calling every mortgage company listed, you are not going to know what current interest rate is. You aren’t going to know what your contacted companies competitors are like. All you will know is what that loan officer tells you.
Online, you can view a lot of information very quickly. - After looking at a few mortgage loan websites, you will know quickly that when you refinance you have many options. Do you want to get cash out of your home? Do you want to borrow more than your homes current value? Do you want an interest only loan? And, you will know right away which mortgage companies offer these options. There are many different kinds of refinance loans, and all of these options can be learned after a few minutes of searching online.
Deal with large, reputable companies – When applying online, you should quickly be able to spot larger, more reputable mortgage companies. I always prefer to use companies that will submit your application to multiple lenders. That way, your credit is only pulled once, and you can receive multiple offers from up to 4 lenders. For a list of these recommended mortgage companies, see link below.