So the Internet isn't perfect. But there are ways to use it to your advantage. Once you understand the Web's shortcomings, you'll find it enormously useful as a research tool. Some mortgage sites operate like online supermarkets, with links to many lenders, while others lend their own money. Either way, the online lenders generally take care of the application process and paperwork and leave the servicing of the mortgage to a traditional banker.
Most borrowers tend to get quotes from a handful of websites.
You can start by visiting Gomez Advisors , which ranks the 20 top online mortgage players based on user friendliness, on-site resources, overall cost savings and timely response. If you can handle all that, read on for our reviews of the seven leading real-estate sites. It helps you select a mortgage loan type and a lender, but it does not act as your mortgage broker or originate loans. The site offers comprehensive home ownership information, where you can rate-shop and compare loan programs as well as make neighborhoods comparisons based on income levels, crime statistics and school test scores. It operates as both a mortgage lender and referral center to other brokers.