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Saturday, August 20th
AmeriSave is a middle-of-the-pack option for mortgage refinancing. On the plus side, they've been around for almost 20 years and have a good reputation at the BBB. But, with downsides like a non-refundable application fee of $500 and some less helpful aspects of their online portal, they don't quite compete with our higher-rated refi providers.
LendingTree helps you start your mortgage refinancing process by matching you with up to five vetted partner lenders in their network. In order to get your rate quotes, you'll have to provide your personal information - and that will likely result in plenty of semi-solicited emails, texts and phone calls. And, because LendingTree doesn't actually fund your mortgage, you'll still have to go through the application process with any of the lending partners you ultimately choose.
While it might be tempting to go with a local mortgage broker or even your community bank, you're not likely to get the lowest rates or ideal terms that way. Why? They usually work with their preferred partners instead of negotiating or "comparison shopping" to get you the best deal. You're paying for convenience and familiarity, but that's it. Fortunately, there are many reputable online lenders that make it quick and easy to get low rates and great terms, all from your laptop or even your mobile phone!
With interest rates at historic lows, it's worth your while to consider mortgage refinancing. Whether you want to shave years off your current mortgage and lower your interest rate or get cash out from your established equity, there's no better time than now. Using an online lender lets you compare rates, complete the application, and finish the entire process without ever leaving home: some services send a mobile notary to you for the final steps of signing the paperwork! Otherwise, you can often choose a local title company if you prefer to go the more traditional route.
Not all online mortgage refinancing providers work the same. While some operate more like a regular bank, funding your loan themselves, others act as a referral service so that you can compare rates and offers from multiple lenders at once. Whichever site you choose, don't be afraid to take the quote you receive and ask other lenders to compete for your business! Some of the fees charged in the refi process are negotiable, so why not see who can give you the absolute best loan terms?
As you start the process of refinancing your mortgage, keep in mind the following criteria for each lender or service you're considering:
TopConsumerReviews.com has reviewed and ranked the best services for mortgage refinancing available today. We hope this information saves you money by helping you find the best rates and terms when you refinance your mortgage!
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