With this huge advancement in technology, certain industries have literally been revolutionized. In fact, businesses in industries where technology became the primary existence for survival that did not adapt and change with the new technology have literally been put out of business. However, those businesses that have survived and are working with the new technology are creating an environment where the consumer has control.

This is especially true in the industry of mortgages. It was common to go to your local bank and do you're financing through the options that they had available. Or you could go to specific mortgage companies that were provided to you by referrals or your own shopping.

You could spend hours on the phone or going to office to office getting quotes on a deal that may not even be in process yet, or so close that you are desperate to find money. Or, you could trust the broker to find a good mortgage quote, but who knows if that was the best deal you could have gotten.

In fact, unless it was a broker that you completely trusted, you don't know if there could be extra money involved for the broker for going to that lender because they had a prior agreement. It was literally impossible to know if you were getting the best deal and terms specific to your situation.

That is another point that inexperienced home buyers miss when they are starting out- there is more than just a mortgage rate to consider when shopping for a mortgage. Besides the interest rate there are points, fees, other closing costs, type of interest rate which may be fixed, adjustable, balloon, split, and then there is the length of the life of the loan. You may think you are getting a good interest rate, but these other terms can greatly affect the total amount of money you are paying for the mortgage.