The Housing Chronicles Blog: How to shop for mortgages anonymously

Saturday, August 23, 2008

How to shop for mortgages anonymously

Tired of having to input your entire life to get competitive bids on mortgages? Some new websites are finally opening this service up to anyone without having to submit personal data. From a Washington Post article:

Even though mortgage lenders have raised the bar on what it takes to qualify for a home loan, shopping for a loan online has gotten easier, if not necessarily less confusing... and Mortgage have embraced this concept in the past year, though that's where their similarities end.

Mortgage Marvel bills itself as the mortgage-shopping version of travel sites Orbitz or Expedia.

The site, which launched in the spring, is operated by Mortgagebot, a Milwaukee-based provider of online loan-origination technology for banks and other lenders.

Like the online travel sites, Mortgage Marvel lets users enter details on the kind of mortgage loan they need and the site rounds up real-time rate and lender fee quotes from hundreds of lenders.

No comments: