There is a wealth of mortgage information on the Internet, including many helpful mortgage calculators. But before you start clicking with abandon, you should know that there are some less-than-reputable mortgage sites on the Web. Find out more about Choosing a Mortgage Loan.
Beware of sites that require you to sign up or apply online to use their tools, unless you are quite sure of the reputation of the site owner. Never give out personally identifying information, such as your Social Security number. The same holds true for downloading software: Some programs may come with spyware or adware attached, both of which can harm your computer and jeopardize your valuable personal information. Make sure to avoid the Top 10 Mistakes Made When Seeking a Mortgage Loan.
The good news is that there are plenty of reputable resources out there, too. Here are just a few of the “good” sites out there.
Bankrate.com. Since 1996, this massive site has been providing a wide range of financial information, including a mortgage section that includes rates, calculators, the latest news, and numerous informative articles.
Fannie Mae. The United States’ largest backers of home loans, Fannie Mae has become synonymous with home buying in the United States. Since its inception in 1968, Fannie Mae has helped nearly 65 million American families purchase homes. The site makes it easy to find Fannie Mae-approved lenders in any part of the United States. You will also find the latest tip sheets, worksheets, and calculators, and you’ll get access to counselors and agencies in the “Research” section.
Freddie Mac. Like Fannie, Freddie is a leader in backing home mortgages. Their Web site features resources for buying and owning a home, including an “All About Mortgages” section. The site is very easy to navigate, and provides weekly surveys for the rates for different types of loans.
HSH Associates. This major New Jersey-based publisher of consumer loan information offers a comprehensive site full of mortgage data. Once you get past the crowded, wordy home page, you will find the latest conforming loan limits plus all the rates, stats, and calculators you could want. You can even check out mortgages rate by state for perfect or “bruised” credit. Articles and commentary by real estate pros are included as well.
Mortgage 101. One of the first online mortgage information sites, Mortgage 101 is linked with hundreds of lenders around the country and thousands of affiliate Web sites. They also provide the latest quotes plus mortgage calculators and articles. You can search for rates, compare lenders, and look for foreclosures in your area. If you choose, you can get your information sent to lenders in your area through Mortgage 101 for prequalification.