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Friday, August 12th
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.
SoFi starts out looking like a great choice for online mortgage refinancing, with a clean website and lots of helpful info. But, you'll get no information about rates unless you create an account and verify your identity, and you may have to complete an official application just to see what closing fees to expect. With more than 100 complaints registered with the BBB, SoFi has some room to grow to earn a higher ranking among lenders offering mortgage refinancing.
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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The Center Square
Mortgage rates increase last week alongside a rise in refinancing
According to the latest weekly survey by the Mortgage Bankers Association, mortgage rates increased last week after dropping for two consecutive weeks. “Mortgage rates remained volatile last week – ...
Wed, 10 Aug 2022