More and more financial services are being offered online these days. One that has recently seen a surge in popularity is digital mortgages. Although online home loans are convenient, there is an inherent risk involved. Here are just a few reasons why an Internet broker (or E-Broker) might not be best.

Not Really Applying

Many people believe that by filling out a mortgage application online, they are actually applying for a loan. That’s not necessarily the case, as you could be entering your information into a database instead. From there, your data might be disseminated to an unlimited number of companies, who would then begin flooding you with offers that may or may not be legitimate. read more

New homeowners cannot wait to take possession of their new property. Even so, it is easy to lose sight of your goal when you are bogged down with getting a mortgage. The loan process can be frustrating, but it is important to stay calm regardless-here’s why.

#1. The Unexpected Can (and Usually Does) Happen

No matter how carefully you plan, situations can arise at any point from the initial application to the closing. A good number of them are out of your control, such as when you discover that your home appraises for less than what you have offered. If you become stressed, you will not be able to focus on finding a workaround for your problem.   read more