Online mortgage loan marketplace connecting you to a network of home loan lenders who compete for your business - home equity loans, home equity line of credit, refinance mortgage, auto loan.
Question : Does Lending Tree really have the best mortgages available?
I need to refinance my house and I'm confused about which bank to go with.
- asked by Andre K
All Answers: Answer #1The short answer is NO. Lending tree is not a bank. It's simply a lead generation service formortgage brokers. Once they have your contactinformation they sell your name to 3 or 4 mortgagebrokers who will contact you and attempt toextract as much commission from your transactionas legally possible. The best course to follow isthis - if you have good credit, or equity in yourhome, or good income or 3-6 months of mortgagepayments saved - go to your local bank and getyour mortgage. You'll get the best rate andlowest closing costs. There is nothing thatprevents you from shopping 3 or 4 reputable localbanks on your own. Get an idea of what local andnational rates are by reading bankrate.com. Ifyou have issues with credit, equity in your home,income, etc, then by all means use local mortgagebroker. Shop 2 or 3 and tell them when you sitdown with them that you're going to shop othersfor rate and fees. Don't let them discourage youfrom shopping by saying multiple inquiries willlower your credit score. If its done within 30days and its for the same purpose (mortgage) youwon't have anything to worry about. Good luck. Ihope this information empowers you.
- answered by Yahoo Reviewer
Answer #2
Lending Tree is an on-line mortgage broker, not anactual lender.
- answered by src50
Answer #3
If you're interested you could look into hardmoney lending. There is a great website outthere,
http://www.pitbullmortgageschool.com . Youshould check them out.
- answered by Madeleine M
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