There are many tips for mortgage purchasing that apply no matter where you plan to get your loan. There are also a lot of good tips for those who plan to purchase a mortgage online. While some of these tips were provided in a previous section, here are several more to help you achieve total satisfaction from your online mortgage:

• If you can’t take advantage of the online mortgage process, don’t complete an online application. To fully understand this tip, you must understand how the online mortgage process operates. Online brokers use email to update you on the progress of your mortgage and provide you with information on changes in interest rates. Some have websites that allow you to track the progress of your loan continuously, at any time. If you do not have home internet access, or seldom ever check your email, the advantages of the online process will probably not help you.

• Don’t be tempted by the ease of online applications. Rather than filling out applications just because they are quick and easy, you should research and choose the application you want. Besides being prudent advice, this tip keeps you from undergoing multiple credit checks. While there are now provisions that keep these checks from doing as much harm to your credit as was possible in the past, you still want to minimize the number of checks done, especially those that are completely unnecessary.

• Get your rate locked in. This tip is universal, whether you are getting your mortgage online or off. A rate lock guarantees your rate and terms, in writing, for a specific period of time.

• Consider security issues, but don’t go overboard. There is always the possibility that someone might attempt to steal your application information submitted online. However, with proper encryption and site security, it would probably be easier to physically break into a mortgage broker’s office to get this type of information.

• Be aware of come-ons and teasers. The same underhanded practices used offline (bait-and-switch, too-good-to-be-true rates, and negative conditions hidden in fine print) unfortunately also exist online. Always be careful, no matter what the setting.