Whether you are looking for a mortgage for the first time, or are looking to refinance an existing mortgage or take out a second mortgage, there is a good chance you have at least considered using an online mortgage broker. The task itself sounds reasonably easy, find a broker website and input your information, and watch the offers pour in. However, there are some things you should remember when looking for an online broker.

First, make sure the online mortgage broker you are considering offers a wide range of loan products from a variety of different lenders. This assures that you actually will get the best deal possible. It is only common sense that the more options from which to choose, the better your chances of finding the one that is right for you. The point is not to settle for an online broker essentially is a ‘lender’s agent’ in disguise.

You will also want to check your online mortgage broker’s qualifications. Ask if they have references or belong to any trade organizations. Also ask how long they have been in business. These questions will let you know that the broker you choose is reliable and experienced. Just like when you make a purchase offline, you want your online broker to know what they are doing.

You’ll also want to know if the broker you are considering charges a fee. While some brokers charge an upfront fee for their services, others do not. Unless there is another very good reason for you to choose a broker that charges a fee, you will want to go with an online broker with no fee required.

Finally, you should find out if your broker will be there for you after the loan closes. If you have a dispute with your lender, will the broker be there for you, or will you be forced to go it alone? Does the broker offer any other services after the loan has closed?

All other things being equal, you want to choose a broker that will be available to help you even after you have closed.