7 Websites and Apps to Check Out If You’re Shopping for a Mortgage
Does doing the research to figure out what kind of mortgage you should get sound intimidating? It might be time to step away from the pamphlets and Excel sheets to find a new rhythm.
Collecting the information you need to make an educated decision about a home loan used to be a tedious (and complicated) operation, but there are countless websites and apps dedicated to simplifying the homebuying process. Here are some of the best options to use when shopping for your next home loan.
Nerdwallet’s research team carefully assesses the best mortgage lenders out there and updates each company’s information (like interest rates, requirements, strengths and weaknesses, and more) every month. Before applying for a loan, check their list of best mortgage lenders to find options that fit your specific financial situation. Nerdwallet shows what types of mortgages each lender offers, their credit score qualifications, and if they’re available nationally.
How to use it: Nerdwallet is available on desktop and mobile browsers.
The first question prospective homebuyers usually have is, “How much house can I afford?” That’s where the Bee Mortgage app comes in. It analyzes your income and how much debt you have to show how big of a mortgage you might be approved for. The results come automatically, which is perfect for borrowers who don’t want to contact a mortgage lender for the same information right away.
How to use it: Bee Mortgage is available on desktop and mobile browsers, as well as both Android and iPhone devices.
LendingTree is a marketplace connecting prospective borrowers with multiple lenders. With it, you only have to fill out one form to receive multiple offers. You can see which lender has the lowest rates, best customer reviews, and least expensive closing costs. The site features popular lenders like Quicken Loans, LoanDepot, and AmeriSave.
How to use it: LendingTree is available on desktop and mobile browsers.
This mortgage calculator app lets you plug in your total home price, down payment amount, loan term, and interest rate to see your estimated monthly payment. It also shows a breakdown of the loan amortization, or how much of your payments will go to interest compared to the principal.
How to use it: Karl’s Mortgage Calculator is available on desktop and mobile browsers, as well as both Android and iPhone devices.
This mortgage app shows how your monthly payment will change depending on the loan amount, interest rate, and down payment. You can also add in homeowners insurance and HOA costs for a more accurate estimate.
The payment breakdown shows how much of your monthly payment will go toward the principal, interest, property taxes, homeowners insurance, and mortgage insurance.
How to use it: USA Mortgage is available on desktop and mobile browsers, as well as both Android and iPhone devices.
BiggerPockets is the premier site for all things real estate investing. If you’re buying a rental property, use BiggerPockets to read articles about investing, look at new listings, or get advice on a potential property.
The forums are full of other consumers managing their own rental properties who are happy to help beginners. Users can help you figure out if the property you want to buy is a good deal — or if you’re taking a big risk.
How to use it: BiggerPockets is available on desktop and mobile browsers, as well as both Android and iPhone devices.
Xome is one of the best sites for buying a house at an auction. This method is risky because you can’t get an inspection, but the payoff can be huge. If you’re considering buying a house at an auction, you can use Xome to research homes, look at listings, and bid online.
How to use it: Xome is available on desktop and mobile browsers, as well as both Android and iPhone devices.