Does anyone have experience using LendingTree.com?
simply put, the lenders that buy lending tree leads are paying a lot of money for them… Somebody has to pay that cost and that cost is passed on to you as the borrower. Personally (and I’m a bit biased on this one) You should find yourself a reputable loan broker. I don’t care what anyone tells you, I have my brokers license and nobody can offer a more fair deal.
Understand that the larger the company, the more that company is spending on advertising. The more they spend on advertising, the more they have to charge to be profitable whereas, little word of mouth guys like me don’t spend a penny on advertising and just want to be compensated fairly for the work we do.
btw… you should have a professional “rescore” your credit so you can show a 620 mid score. It takes about a week and will save you thousands of dollars. This is another trick that a reputable broker is going to be able to offer you. Stay clear of the turn and burn shops, they will make you an offer, hope you bite and then send you on your way, never to hear from you again.
We used it in May, when we wanted to get a home equity loan, and the response was overwelming. Our score (my hubby and I) together is about 660, and we heard back from 10-15 banks and lenders…Some of them were outragious, but most were decent. We ended up going with CitiBank..The had the lowest interest rate and our monthly payment for 80,000 is $550 a month…I would try them out, u are not obligated to anyone, and they will only send u the names of banks that u already meet their qualifications..so there is no run around..Good luck..