New Mortgage-Shopping Websites: A Good Deal?

Do you hate signing up for a website to shop mortgage rates and then getting flooded with sales calls? If so, you may want to try out one of the two new websites for mortgage shopping: Google Compare Mortgages and Refinance.com.

Google's new mortgage shopping site depends on paid ads, so only the lenders that want to advertise will be there. Right now, you probably won't see any major banks. They haven't signed on yet.

Google's search is available in 38 states. You can see if your state is currently being served by a drop-down menu on the left side of the page.

Refinance.com works differently. Before you get to compare any loan options you need to enter the following: address, e-mail address, primary phone number, basic financial information (such as salary, checking, savings, retirement savings), current mortgage details, mortgage preferences and Social Security number

Can either of these sites replace the traditional hunt for a mortgage? It all depends on what you're looking for.