Getting An Instant Online Mortgage Quote – 4 Hidden Benefit

By: Ben Ehinger
Submitted: 2007-01-17 16:17:34
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Have you ever plugged your information into one of those instant online mortgage quote sites wondering if there are any benefits? Sure there is the obvious benefit of comparing multiple lenders at one time, but what are the real benefits?

Benefit #1 – Only one credit report is pulled

This is a huge benefit because every time your credit is pulled you actually lose points on your precious credit score. If there are 5 or 6 companies pulling your credit this could really hurt your credit and cause your loan rate to be higher. When you have a third party compare different companies for you they only pull one report.

Benefit #2 – You get to instantly shop around before making a commitment

I have stressed this in so many articles I am sick of talking about it, but you must shop around, especially if you have great credit. When you use an online mortgage quote site they do all the shopping around for you. All you have to do is accept the best offer and commit to that company. Pretty simple don’t you think?

Benefit #3 – There is no hounding salesperson

If you don’t like dealing with sales people, and most of us don’t, then this is by far the best benefit for you because you never have to talk to anybody until they have shown you their product and you have compared it to their competitor.

Benefit #4 – It is generally free to get an online comparison quote

There are only a couple of companies that will charge you for this service, and they are not even the biggest and best companies. Yes, there will still be normal fees once you pick a company, but the comparison company usually won’t charge you any money because they make their money from the lender.

Those are the 4 hidden benefits of getting an instant online mortgage quote. Imagine having all the guess work eliminated and being able to read 4-6 different mortgage quotes. You could literally pick the winner yourself without a salesperson to try to convince you otherwise.

Article source: Expert Articles