Mortgages?

[aljedynak]

Has anyone ever used Lendingtree.com for a home mortgage? We are considering it but the realtor is trying to steer us away from it saying it may not be safe. I wonder if she gets kickbacks from the company she recommends.

[mikeynine999]

Has anyone ever used Lendingtree.com for a home mortgage? We are considering it but the realtor is trying to steer us away from it saying it may not be safe. I wonder if she gets kickbacks from the company she recommends.

yeah thats why she wants u to use her company they get a percentage lending tree i heard is actually reall good also try this other company called mbn ambro mortgages very good and quick company

[discoballs]

all lending tree does is dish out your info to subscribing mortgage companies and then they bid on it.

abmn amro is an actual lender that has some funk programs.

what state are you in? im in the business and might be able to refer you to one of our net branches.

[crowina]

of course she gets kickbacks... so do the banks... read your paper work... take it home and study it, look for hidden points taken... they will tell you that the bank requires 5 points when it is really maybe 2 and they take the other 3... study up on the subject.

Has anyone ever used Lendingtree.com for a home mortgage? We are considering it but the realtor is trying to steer us away from it saying it may not be safe. I wonder if she gets kickbacks from the company she recommends.

[aljedynak]

I'm in NJ. The companies we are considering are American Residential Mortgage, Arlington Capital.

Every lender has something bad to say about the others, of course.

[MDR]

Check your PM

It's really up to the individual your working with and how well you trust him/her.

There is a lot of things that seem confusing, but an honest loan officer will advise you on all your options and suggest those he thinks fits you best.

The book "Mortgages for Dummies" is a pretty good read.

[disk-ofreak]

[smgarret]

Has anyone ever used Lendingtree.com for a home mortgage? We are considering it but the realtor is trying to steer us away from it saying it may not be safe. I wonder if she gets kickbacks from the company she recommends.

If you haven't gotten a real estate attorney I'd suggest getting one. They will read all the paperwork for the mortgage and make sure you're not getting screwed. There will be fees, etc with any mortgage you take. I just finished going through the whole process (closed on a condo 6 months ago). So feel free to PM me with questions you have. Will try to relate my experience as best I can

[itzbangin]

here is the difference with lending tree. They sell your name to loan officers of different mortgage companies. A broker just goes to different banks.

I work as a mortgage broker. So I had a potential client i was talking to. He also told me he was shopping on the Web for a mortgage. So I proposed him a loan and he said he would get back to me. Well after going to lending tree and other sites for about a week he finally called me back. He asked if i could still get him the loan he wanted. Well it turned out we couldn't. HE had so many different people going in and looking at his credit his scores dropped a large amount and he no longer qualified for the loan he was looking for.

Almost all brokers can get similar rates. Its about service and trust. Who is going to be right by your side through the whole process and beyond. Who is going to get the job done in a timely manner. I am sure when the information is given out to various persons through lending tree they all use a lot of the same banks. Why would you need 5 different people calling the same banks and lowering your score, not to mention wasting your time when you can have one person do it for you.

[MDR]

here is the difference with lending tree. They sell your name to loan officers of different mortgage companies. A broker just goes to different banks.

I work as a mortgage broker. So I had a potential client i was talking to. He also told me he was shopping on the Web for a mortgage. So I proposed him a loan and he said he would get back to me. Well after going to lending tree and other sites for about a week he finally called me back. He asked if i could still get him the loan he wanted. Well it turned out we couldn't. HE had so many different people going in and looking at his credit his scores dropped a large amount and he no longer qualified for the loan he was looking for.

Almost all brokers can get similar rates. Its about service and trust. Who is going to be right by your side through the whole process and beyond. Who is going to get the job done in a timely manner. I am sure when the information is given out to various persons through lending tree they all use a lot of the same banks. Why would you need 5 different people calling the same banks and lowering your score, not to mention wasting your time when you can have one person do it for you.

This is true.

Also a simple truth is all rates are based upon 3 things:

1. Your INCOME (self employed may be slightly higher if going "stated")

2. Your EQUITY (what you own)

3. Your CREDIT (your score based on various factors)