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Question : Lending Tree, can it really be that cheap to get a mortgage ?
Would any lender out there give an offer on Lending Tree without making any money? or are there hidden fees.A friend said that they got a good offer, but when my other good friend who works as a Loan Officer did the calculations with the rates etc, they said that the rate given by the lender via Lending Tree can't be possible. Because that would mean the company is working for free.Is there a catch?!?!?!Has anyone used them before and got stung on hidden fee's?Do tell.....
- asked by swma76
All Answers: Answer #1STAY AWAY FROM LENDING TREE. They hide their fees and bait and switch Also lending tree is owned byameriquest quest check them out on BBB see whatyou get
- answered by jon g
Answer #2
The only experience I had with them was fillingtheir online ap out and putting in my state (whereI used to live) and only after letting me put inALL my personal info did they reveal to me theydid not do my state. That really teed me off.
- answered by dreamcatcher8993
Answer #3
From what I understand they get you in at lowpayments for the first 36 months or so but afterthat they jack the payment up to the real rate. Itis a way to get people in that can't go in at thecurrent rate. This is all great until the realrate kicks in and you lose your home because youcan't afford the new high payment. It in myopinion should be illegal to do this because ittargets people who are desperate to get a homeonly to get in trouble financially later.
- answered by pcb4sale
Answer #4
- answered by W. E
Answer #5
Remember the old saying "if it sounds to good tobe true, it is"
- answered by Granny
Answer #6
DO NOT USE LENDING TREE OR ANY OTHER ONLINE OR TVMORTGAGE COMPANY! There ARE hidden fees, higherrates, etc. I've never known anyone who had a goodexperience with any of the dot com companies. Iknow of someone whose loan never got funded, herethey sat at the settlement table with no money,and it NEVER came through and we weren't able toreach the person in California. I know of anothercase where Lending Tree ran the couples credit somany times that they couldn't qualify for theloan. (They didn't have the best credit to startwith, but with all the inquiries on their report,it was totally shot) Do yourself a favor and calla local mortgage lender.
- answered by akc1106
Answer #7
Any bank or broker can take your loan to investorswho lend at higher rates, and thus _pay us_ (I'm abroker/banker) more, because a higher rate is morevalueable to the bank. This is superior forshort-term plans (i.e. less than 4 years). If youintend to hold this property for some time,instead focus on the rate, not so much on thefees.Lending tree mostly just sells leads, thoughin a few states they're the direct lender - but nobetter than a competent professional who relys onreferrals more than advertising.
- answered by rogerv_dotcom
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