Mortgage Shopping

Consumers comparison shopping for many things – but not their mortgage.

Consumers may like to find the best deals out there, but they don’t always approach their mortgages with the same zeal. In fact, people are more diligent about shopping around for a home computer than for a home loan quote, according to a new LendingTree survey conducted online by Harris Interactive.

The survey found that consumers research an average of 3.1 computer models, compared to an average of 2.4 loan quotes.

Amazingly, 39% of those who said they were at least “somewhat involved” with shopping for their mortgage said they received only one loan quote.

Other interesting facts: 10% of people said they spent the same amount of time mortgage shopping as brushing their teeth, and 11%  likened mortgage shopping to the amount of time it takes to walk a dog.

To help guide the mortgage shopping experience here’s a great brochure from the US Dept of Housing: Mortgage Shopping Booklet.

Lindsey Brown P.A
EWM Realty International

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