Getting Home Loan Quotes Online

The Internet has made all aspects of the real estate process easier. You can locate properties faster, find home values easier, and get home loan quotes from lenders with a lot less effort.

Of course, you also need to exercise some caution when applying for a home loan online. You must guard your personal information from identity theft, as much as possible. This is why a lot of folks are afraid to get loan quotes via the Web. They think that everyone is out to get them, and that all websites lead to identity theft. But this is simply not the case.

Home Loan Quotes & Internet Security

Let me offer you some reassurance, based on my own experiences with this industry. With a basic understanding of Internet security -- and a healthy dose of common sense -- you can enjoy the speed and convenience of online home loan quotes while also protecting your personal information. Here are five tips on doing just that.

1. Stick With the Names You Know

I recommend using companies and websites you've heard of before. For example, if you were to use the website of a big-name brand (like Ditech, eLoan or LendingTree), you could be fairly certain there would be no "monkey business" behind the scenes. These companies, and others like them, have a lot invested in their reputations. So they would be foolish to act unethically. Personally, I would never provide my personal information to a company I've never heard of before. I recommend you exercise the same caution when getting home loan quotes via the Internet.

2. Look for the 'S' in the Web Address

A secure website has special encryption to prevent hackers and identity thieves from accessing certain areas. You can tell if you're on such a website by looking at the web address / URL up in your Internet browser's address bar. Before the "www" part, there should be an "https://" prefix. Note the letter 's' in that prefix -- this must be present to indicate a secure web page. If it starts with "http://www" (without the letter 's'), then it's not a secure site and you should not transmit personal information through it. Find a more secure place to request a home loan quote.

3. Look for Third-Party Verification Seals

Today, there are companies whose sole mission is to verify the Internet security of other companies. You've probably seen their logos at the side or bottom of financial websites. For example, you might see a graphical seal of approval that says something like "verified by TRUSTe."

In most cases, these graphics are hyperlinks as well, and you can click on them to check the security verification status of the website you are currently using. All of the big-name online mortgage companies have these verification seals on their websites. Combine this with the first two recommendations above, and you can be 99% sure you're on a safe and legitimate website.

4. Trust Your Instincts

If something doesn't seem right to you, there's a good chance it's not. For example, if a website asked you for bank account numbers and passwords as part of the home loan quote process, you would know something wasn't right. Why would a mortgage broker need this information? They wouldn't, of course. Yet you would be surprised by the number of scams online that operate in this way. Trust your instincts when using financial websites. And when in doubt, back on out.

Of course, if you follow the previous tips I offered above, you can avoid this kind of thing altogether.

5. Research a Company / Website Before Using It

Just by using Google, you can become an amateur detective and research everything about a particular company -- aside from their private financial data, of course. I recommend you do this before dealing with any kind of financial company, but especially when dealing with a website that offers online loan quotes.

Conclusion and Going Forward

With a little bit of research, and a lot of common sense, you can capitalize on everything that's good about the Internet while protecting yourself from the bad. Follow these five pieces of advice when requesting mortgage offers via the Web, and you'll be more likely to enjoy a smooth and safe process. And remember … when in doubt, back on out!

Related article: How to Apply Online for a Mortgage Loan