Online mortgage applications are becoming very popular with more and more people turning to the Internet to find and apply for mortgages. Some of the main advantages to considering an online mortgage are it's fast and easy, you can apply 24/7, and you can compare rates and prices between companies more easily than on the phone.

Online mortgage companies offer a quick turnaround time on your loan application. A traditional lending institution can take weeks to underwrite a loan. Interest rates and down payment requirements for an online mortgage are usually listed on each company’s site for easy comparison. Some sites provide even more information up front, such as different down payments for primary residences, investment properties or second homes. You can also find “broker” sites that list the rates of many companies on one page, doing some of your mortgage homework for you. If you're interested in saving time by shopping for a loan whenever your busy schedule allows, then consider applying for an online mortgage. You may find it to be a quick, easy and painless experience.