Online shopping – It isn’t just for shoes

The women’s guide to getting a great online mortgage

According to stats from CreditCardsCanada.ca, online sales topped nearly $15 billion in 2009. Approximately 95 billion online orders were placed in Canada during the same period, with nearly 37% of those requests coming from savvy female shoppers. Shopping online makes sense for a number of reasons: it's quick, it's easy, and there are always deals to be had. This is true whether you're shopping for sexy stilettos or an updated mortgage rate. The following are three fantastic reasons why cash conscious women should shop online mortgage companies for a competitive rate:

1. It's easy and convenient

   Just like online retailers have unlimited access to designer labels and discounted items, online mortgage companies provide savvy female house hunters with immediate access to important mortgage information. And just like you'd compare prices between one online shop and another, online mortgage lenders provide you with detailed comparison breakdowns and real-time rate information. All you have to do is curl up on your couch, fire up your laptop, and start looking!

2. It helps protect your privacy

   Lenders can be intimidating, especially if you're a single woman in search of reliable mortgage information. Shopping for a mortgage online helps protect female first-time home buyers from receiving an unfair assessment based on their sex or social status. Shopping via an online mortgage portal ensures that you'll receive a competitive rate based on your financial situation and not your hair colour (don’t pretend you don’t highlight your hair!).

3. It avoids low-balling

   We've all heard stories of how friends have signed up for what sounds like a great mortgage rate, only to find that the numbers have changed due to a shift in the market. Online mortgage shoppers aren't as vulnerable to price low-balling because they can easily check their price online on the lock date.

A woman's guide to online mortgage shopping

There are a few things every woman needs to know prior to successfully locating and applying for a great online mortgage rate. First, you'll need to educate yourself on the ins and outs of online mortgage shopping. Review resource articles on different financing types, and do your research on available online vendors. You'll also want to crunch some numbers to know what your budget can and can't handle. Try some free online mortgage calculators in order to gain a better understanding of your financial situation. Finally, make sure you complete a mortgage pre-approval application in order to get the ball rolling on your financing and ensure that you're in a great bargaining position when it comes time to make an offer on your dream home.

When it comes to finding a great deal, know that online retailers are very valuable in helping you find a competitive mortgage rate. Shopping online for a mortgage is a great way to educate yourself on home financing, as well as ensure you receive the absolute best deal. So what are you waiting for? Start shopping now!