View Full Version : Has anyone used Lendingtree.com?
12-22-2008, 05:14 PM
What is the best way to get a good mortgage rate? I have heard that rates are falling, has anyone used leandingtree.com to get mortgage rate quotes? Is that the best way to get rates for a refinance? Or should I call a mortgage brooker or someone at a local bank? I know nothing about this but just wanted to ask for others experience about who was best to call.
12-22-2008, 05:26 PM
IIRC, I used LT as a guide of what to ask for from local places. I dealt with 2 different ones (I forgot who and Countrywide) and played them plus LT against one another for a 7 yr. ARM 5.5 years ago - uh oh... that gives me 1.5 yrs. to get DH on the ball. He's not the negotiator of the family, so let us know your experiences as it looks like I'll be the one doing it again. FWIW doing it this way got me a rate that makes everyone's eyeballs pop out and stay out.
A few years ago we got a quote from our local bank and then one from lending tree. Our local bank couldn't match the huge discount lending tree offered. We saved $$$$. I would definitely recommend it.
12-22-2008, 05:58 PM
i used to do mortgages for a living... what lending tree does is give your info to several banks and they'll try to compete for your business.
right now, however, you may be able to call your current service provider (whereever you send payments to) and negotiate something better and simply get a loan modification. there's a new act that passed recently, that's designed to help current homeowners with their payments in light of what's been happening in the economy lately. i hear this is the best and cheapest way to get a "refinance" done right now.
i havent tried it myself but when i get the chance, i'm going to call my provider and see what they can do too... i hear all you need to do is complain about how hard it is to make payments now and for most people, it's true!!
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