Many people who did this have ended up hurting ...While there are multiple causes for the current mortgage crisis, part of the responsibility lies with borrowers who purchased homes and took out mortgages they couldn’t really afford. Based on the benefits listed above, online mortgages may be the best type of mortgage for you. Generally, mortgage brokers who conduct their business online charge lower fees compared to traditional brokers. What's more, online rates are updated everyday, thus keeping you aware of the changes in interest rates.