I’m trying to refinance my condo. Should I check with lendingtree.com or are there any other options?
by Mortgage Rates on Sunday, September 19th, 2010 | 2 Comments
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I’d suggest just calling a few brokers in your area, tell them your credit score and ask for a good faith estimate. THen compare the ones you receive and pick the best one and try to negotiate a better deal. lending tree is ok, but without a good faith estimate the lender you pick from there could easily change their fees or rates by the time they start working on your loan and you’d have to start again. I’ve seen it happen numerous times where someone tried to get a loan they saw off there and then upon contacting the mortgage company or even right before closing learned that the fees and rate is different.
I would call a few brokers and compare. Brokers usually work with 50-100 lenders so they can find the best deal for your scenario. Make sure you get a GFE in writing and also make sure the fees and rate dont change when you get to the table. I hear about this happening all the time and Id say 95% of the time the borrowers have come so far that they just go ahead and sign. Check out http://www.myifconline.com . We are a lender and a broker in 20 plus states. FHA rates are at 5.875% today.