Source: Informa Research Services

In these times of financial uncertainty, a healthy credit history and score is necessary to buy a home.  As such, your personal information may be sought after by identity thieves.  According to Informa Research Services, by shopping for mortgage rates online, not only can you ensure you get the best rate available, but you can also help control who obtains your personal information.

A number of websites can get you a certain number of mortgage rate quotes within a short amount of time (e.g. “Get quotes from four different lenders in just five minutes!”).  However, upon submitting your personal information, it may be distributed to a number of banks or mortgage companies, none of whom were personally selected to receive your information or contact you about your loan inquiry.

However, with many online mortgage rate comparison tables, you only need to enter very basic screening information (such as property value, credit rating, and desired loan type) to give you an idea of the rates for which you may qualify.  If you choose to proceed with the loan approval process, by using online mortgage rate tables to shop for rates, you are in charge of determining who receives your information and who does not.  It is up to you whether you want two or twenty lenders to receive your personal information.

By shopping online for the best mortgage rates, you can feel confident that your personal information is safe and that the rate you get is low.