Obtaining the Cheapest Mortgage Refinancing Rates
Just like in any other industry, there are companies that will treat you very well and companies that will look to rip you off.
The mortgage refinancing industry is no different.
There are top-notch and reputable companies, and there are shady companies as well.
How do you tell the difference?
How do you secure the lowest possible rates when you are seeking to refinance your mortgage?
I mean, at the end of the day, locking yourself into a lower interest rate is very likely the reason that you are refinancing in the first place. It stands to reason that you would want the lowest rate possible.
Mortgage rates are currently near all-time lows, but are in the process of inching higher. Now is a great time to be thinking about refinancing your mortgage.
Ok, so the question is - where do you go to find the absolute lowest possible rates?
The answer? Lending Tree.
You have likely heard of Lending Tree before, but let me give you a rundown of the company.
Lending Tree connects people who are looking to refinance their mortgages with banks and other lenders.
When you submit your information, Lending Tree will solicit quotes from the largest banks in the country.
Lending Tree will then show you all of the competing quotes. If you want to go ahead and refinance your mortgage with one of the companies, then you can choose to go ahead with the process. If, after receiving the quotes, you decide not to refinance your mortgage, then you are under no obligation to do so.
Lending Tree had facilitated over 25 million successful transactions since its inception in the late 90s.
The best thing about Lending Tree is that they are working on your behalf - they are not the ones that are actually refinancing your mortgage. Rather, they are simply helping to connect you with competing banks, and only get paid if you decide to go through with the refinancing. There is never any pressure from their end at any stage of the process.
By using Lending Tree's system of soliciting competing quotes from many different banks and lenders, you are pretty much guaranteeing that you will find yourself the lowest rate that is currently available.
Sure, you could do all of this legwork yourself, but why bother? You are not paying any extra to use Lending Tree's services - the company gets paid by the lender if the transaction goes through. You pay nothing.
Try them out, and find out why millions upon millions of people just like you recommend Lending Tree for all of their mortgage refinancing needs.
Filed under: General Knowledge