Today I read a blog post entitled "What lenders don't want you to know about shopping for a mortgage online" and decided that it contained enough misinformation that I had to correct it. Plus sometimes I get the urge to make fun of people. The blogger in question works for a lender and I guess figured that his potential clients would be more likely to stay with him if he could convince them that burning gas and shoe leather is a better way to get a home loan. Interestingly, he claims that he doesn't think much of the Internet, but then goes to the trouble of creating a blog...

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Which brings us to the advantages of shopping for a bad credit mortgage online.

It allows you to obtain the most information in the shortest period of time. It allows you to remain anonymous until you decide that you want to move forward. And it lets you get your quotes fast enough that you can make meaningful comparisons. Here are one blogger's fantasies about mortgage shopping online:

"If you shop online you are only a number to the loan agent, not a person."

Newsflash, Champ. You, the lender, are only a number to your clients -- try offering them a significantly higher rate and a boatload of extra fees and see how much they care about the cookies in your office or the birthday card you sent them. And just because you listen to their life story and nod in the right places doesn't mean you are best at evaluating mortgage programs, analyzing your client's financials, and getting her approved for a loan. Conversely, just because a loan agent can fire off a competitive quote in minutes doesn't mean he isn't interested in your uniqueness or that she doesn't care about your plans for the home or your credit problems.

"The lenders you'll deal with offer one-size-fits-all programs."

Nothing could be further further from the truth. Online, you can search for FHA lenders, bad credit mortgage loans, USDA mortgages, adjustable rate home loans, home equity loans, energy efficient mortgages, construction mortgages, rehabilitation mortgages, commercial mortgages, mortgages on investment property -- spend five seconds with Google, duh. But try walking into a local office and asking for all of those things.

"They are not willing to help borrowers with special circumstances."

Like, for example, folks with bad credit. Well, that's obviously not true or this Web site would not exist. In fact, many of the same lenders that you could call up or go visit in person also have a Web presence and dispense quotes on this very site. Loan officers don't treat their customers who contact them online any differently than they do those who come in or call (except your access to cookies and coffee will be somewhat limited). The loans are processed the same way. They are underwritten the same way. The only difference between shopping online and in person is that you have a better shot at getting what you need and the best pricing available if you get more information. Getting good information quickly is just a lot easier to do from where you are right now.