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Published on Sunday, August 31, 2008
By LA Daily News Staff Writer
Mortgage lenders have raised the bar on what it takes to qualify for a home loan the last couple of years, but shopping for a loan online has actually gotten a bit easier, if not necessarily less confusing.
Where mortgage-scouting Web sites traditionally required users to enter a swath of personal information to generate rate estimates, the newest sites offer users a way to comparison shop for a loan under the cozy blanket of anonymity.
This can help allay concerns over turning over too much personal information online or of being hounded for weeks by mortgage lenders soliciting your business.
Question is, do these rates hold up once real names, credit scores and other personal details come into the picture?
"My gut instinct is that there will be a wide disparity about what rates are quoted on these sites and what they actually end up with, and not necessarily due to the borrower," Robert Statnick, chairman of the California Mortgage Bankers Association
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