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Question : Dealing with mortgages, has anyone used Lending Tree, what do you think of them?
If Lending Tree is not the best choice, any other mortgage suggestions?
- asked by GenMinOfG
All Answers: Answer #1You can use lending tree because you are NOT obligated to go with any of the four choices theygive you. Also, check out bankrate.com as theyhave some more data.
- answered by fiberangel
Answer #2
Your best bet is always to stay local. Talk toyour friends, family, coworkers, etc... Get acouple referrals to people in your area. You'llwant to talk with 1-2 brokers, 1-2 banks, and seewhat they all offer you.I'd avoid bankrate. I'min the business, and in my experience, a goodchunk of the rates posted are not actuallyavailable. You'll be baited and switched intosomething higher before closing.
- answered by fukinluckyfuker
Answer #3
my opinion is that you should find a mortgagebroker. They have your best interest inmind.according to an ezine article by LouiLatour:If you are considering mortgage refinancingonline with the Lending Tree website, you need toread this discussion first. Filling out LendingTree’s contact form will result in overpaying asmuch as $1,300 for your next mortgage loan. Hereis what you need to know about computerized loanorigination junk fees to avoid overpaying for yournext mortgage loan.To understand how companieslike Lending Tree make their money, click on thelicenses and disclosure link at the bottom oftheir web page. Scroll down a bit and you’llfind a section entitled “GFE Addendum –Disclosure and Fee Acknowledgment." Lending Treeclaims they do not charge you for their services,while this is only partially true, the fine printfound on the licenses and disclosure page tellsthe whole story.The Good Faith Estimate Addendumdiscloses the “Computerized Loan OriginationFee” you will pay when closing on your newmortgage. Your lender will charge you up to $1300for filling out Lending Trees form. This is thefee you pay for using Lending Tree to find amortgage loan. While Lending Tree is not chargingyou this fee directly, had you gone to themortgage lender's website directly you would notbe out of pocket $1300 at closing.Lending Treeisn’t the only big named website that chargesthis hidden fee. How can you avoid paying“Computerized Loan Origination” fees? Do yourown research and go directly to lenders websiteswithout using a third party portal like lendingtree. Closing costs and origination fees areexpensive enough without third party companieslike Lending Tree bilking you out of your hardearned money.fukinluck is right, use localbrokers and get different quotes, and dont dobankrate, they will promise you the best rate andclose the deal with a different rate. In thisbusiness if its to good to be true, it probablyis. Best of luck.Im a Mortgage Consultant, let meknow your scenario I do no cost no obligationconsultations, ,Ill guide you in the rightdirection, according to your situation. If youneed assistance feel free to contact me and I letyou know who might have the best answer for yoursituation. Chris DiazmortgageConsultantchris@pelicanlending.comwww.pelicanlending.com
- answered by 4walls
Answer #4
NOOOOOO!!! This is not a biased opinion it's aFactual Statement. Lending Tree is a LeadGeneration company in disguise. They will SELLyour Information to random people Nationwide foras much as $150. You will get bombarded withphone call's. Then the trickle down effect willhappen. These people who you did not choose willsell off your information to another slimy LeadGeneration Company and they will Sell yourinformation for $50 to $5 depending on how oldyour information is. This can go on for about twoyears. Yeah you say your on the Do Not Calllist. But you just voluntarily gave over yourinformation. Your best bet is to pick up thephone and call around. Ask friends or family. Always ask for a GFE or Good Faith Estimate.If youwant I will overlook your GFE and tell you whetherit's worth it or not. Just a Free Service I offerwith no obligations.STAY AWAY FROM LENDING TREEAND SAVE YOUR PHONE BILL OR MINUTES.
- answered by Openthathouse.com
Answer #5
I used lending tree for my auto loan, and itworked out great for me, no complaints at all!Idon't know how they work on mortgage, but like thefirst answer said, you are not obligated to gowith any of the offers they present to you.Moreimportantly, why are you going this route? Do youhave a low credit score? If your credit is fine,then I would suggest going with the bank thatcurrently holds you checking/savings, and anythingelse. That way one call takes care of all yourfinancial needs.
- answered by BMW BFD
Answer #6
I am a loan officer and work for a mortgagebroker. Lending Tree can offer pretty competitiverates. But please watch out for the closingcosts. They usuallly are RIDICULOUS. I agreethat your best bet is to stay local. Call localbanks as well as mortgage brokers. And alwaysalways always tell mortgage broker what either abank or another broker has offered you, mosttimes they will compete so they will get yourloan.
- answered by caitybeth3
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