Posted: 1/8/2009 12:35:19 PM EDT
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I'm talking to a local company about a home re-fi but the wife suggested I use Lending Tree to just be able to compare offers.
So now I have three or four companies who have called me and want to talk about my options. Which is cool on one hand, but not cool on the other hand because, so far, everyone from those four companies who called me sounds like the Telemarketing Saleman of the Year for 2008. Its uncanny how cheesy they sound, and that makes me wonder a bit about the company. I feel like they want to make me a deal on a nice used '74 Datsun. So anyway, has anyone here used Lending Tree to get hooked up with a mortgage company? How did it go? Thanks. |
| I was a mortgage broker for five years. LendingTree is nothing more than a lead source. Those calls you received are from loan officers who paid for the lead. They're all probably legit, they all want your business, but there's nothing magic or special about LendingTree. |
| Have them each send you a GFE and a TIL. By law, they should have done that already. The TIL (Truth-in-Lending) is fairly meaningless, but it will look like you know what you're talking about. The GFE (Good Faith Estimate) is where you can compare costs. They should all be fairly similar in closing costs. Throw out the highest and the lowest closing costs and compare what you have left. |
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Duh, just re-read your question.
It's hard to say, because you can get great deals from honest brokers in little shops, and get screwed by the big national guys, or vice-versa. I would ask each of them a lot of questions and go with the one who sounds most knowledgable and honest. |