Best Reviews TopConsumerReviews.com Best Home Equity Loans Best Reviews
Best Reviews
      May 26, 2020

Home  >  Home Equity Loans  >  Detailed Reviews

Best Home

Equity Loans

  1. The Easy Loan Site
  2. Lower My Bills

Your Information Is Secure
Mortgages: The Complete Guide Newsletter

Compare Products

  • Select any 2 companies in our reviews to compare them head-to-head!

Latest Reviews

Bad Credit Loans

Buying Gold

Cake Clubs

Cash for Gold

College Textbooks

Gout Relief

Investment Newsletters

Photo Books

Photo Cards

Slipcovers

 

Individual Reviews

Smart Quote

The Easy Loan Site

Lower My Bills

 

 

 

 

 

Protect Your Loved Ones With Medical Guardian Today!

 

 

 

 

Send Flowers today with Send Flowers!

 

 

 

 

Stop hair loss now with Provillus!

 

 

 

 

Protect Your Loved Ones With Medical Guardian Today!

 

 

 

 

Get Your Chef-Prepared Meals at Home Bistro Today!

 

 

 

 

Create A Free Profile & Start Searching Match.com

Our professional reviewers evaluate products and services independently, but Top Consumer Reviews may earn money when you click on the links on our pages. Learn more.

Best Home Equity Loans Better Business Bureau Reliability Seal

Best Home Equity Loans

A home equity loan is a popular strategy for home owners that want to use the equity in their homes to create cash in their pockets. Home equity loans are typically used for home improvements, to pay off debt, make a large purchase, send a child to college, and much more.

A home equity loan can mean your existing loan is refinanced or a second loan can be assumed. Determining which move makes better financial sense, refinancing or a second loan, is dependent on several factors such as your current mortgage loan terms and which banks are willing to offer you a home equity loan given your creditworthiness. Before you call your current mortgage lender to discuss a home equity loan, you should consider shopping around for the best home equity loan rates. This can mean saving several thousands of dollars in interest and mortgage payments over the life of the loan.

Continue reading below reviews

Best Reviews

2020

Home Equity Loan Reviews

5 stars
Smart Quote

SMART QUOTE

Visit Site

TopConsumerReviews.com Best-In-Class Blue Ribbon Award Smart Quote is rather new to the home loan, home equity loan, and mortgage refinance business. Smart Quote is different than other home equity loan mortgage referral companies. Their website asks customers many of the same questions as other companies in our review, but their results then send customers to Quicken, LendingTree, and other companies. However, the home equity loan matches are much more generalized and less specific to each client. The benefit is that if someone isn't happy with the rates they've received, they may use Smart Quote to see what other lenders are issuing loans in their state, for that size of home equity loan.

Inquiry Process:

  • Input your state, loan type and amount of loan.
  • The website will provide the best rates for several companies doing business in your area.
  • The customer must then call or go to the respective website to see what they can qualify for.

Smart Quote is a good tool for those that are having trouble finding loan terms that they are comfortable with. The challenge with using Smart Quote is that the results may not apply to that individual borrower, they are only best rate quotes and the shopper must then go to a new website to start a more official process. In the end, this requires more steps that doing business with a higher ranked company.

The website does offer a few resources and tools such as a mortgage calculator, home affordability information, and links to some informative articles. For those that visit other home equity loan companies and wonder if they've missed any other home equity options, Smart Quote is a tool that can help. A downside to Smart Quote is that they provide very generalized information, and which may not apply to your specific creditworthiness and financial needs.

Visit Site
2.5 stars
The Easy Loan Site

THE EASY LOAN SITE

Visit Site

At The Easy Loan Site visitors will find a no frills home equity loan website that focuses on connecting borrowers with mortgage lenders based on each consumers financial situation. The Easy Loan Site has an A rating from the Better Business Bureau and is Norton secure certified.

The Easy Loan Site is missing those research tools, market analysis and other helpful features we found at many of the other home equity loan sites. The main page simply states the company name, advertises the lowest rate available today, and tempts clients to “lock in now.” There is a simple drop down menu box from which you select the type of loan you are looking for (new mortgage, refinance, or equity loan) and then takes you through a long list of questions designed to determine which lenders are the best fit for your financial needs.

Inquiry Process:

  • Complete online application with type of loan, amount, credit rating estimate, location, and description of the property
  • See a list of 3-5 potential lenders and their rates, with contact information
  • Receive calls from potential lenders 24+ hours later

The process for filling out the online form is made very simple with the use of this drop down window. In less than a minute we were able to navigate through the various questions and get to a screen that showed us three competing lenders with rates that looked fairly competitive. We were also given notice at that point that we would be contacted by lenders within 24 hours.

Everything worked as it should, but the experience left us a little unimpressed because the site offered so little background information that we really didn't know who we were dealing with. With no research tools, company background details or any other information, The Easy Loan Site is a basic search engine and left us wanting more.

Visit Site
1 star
Lower My Bills

LOWER MY BILLS

Visit Site

Lower My Bills is a free online service that provides rate comparison information for home refinancing, home equity, debt consolidation and more. The philosophy at this company is that they can find provide lower cost providers to help save money on monthly bills. The process of obtaining those promised free quotes was simple and involved answering questions related to the type of home, credit score range, year of original purchase, home value, mortgage balance, 1st and 2nd mortgage information, purpose of home equity loan, employment status, address, phone number and a few other simple questions.

Inquiry Process:

  • Complete online request including property type, the type of loan, credit profile, purchase year, home value mortgage balances, current lender, rate info, age, address and more.
  • Some, none or up to four website links will be available to take you to new companies that again require you complete start the inquiry process.
  • Next step is dependant on new website you're directed to.

Once the questionnaire was completed we expected a list of rates to appear given the very detailed and personal information we had provided. However, we only received four links to different websites that wanted the same information completed. Some of those four links even provided erroneous results - furthering our disappointment. This left us wondering what Lower My Bills was planning to do with our personal information. We didn't find a convenient and valid list of potential home equity loan lenders at Lower My Bills.

Visit Site

Continued from above

The best home equity loans may be found online from mortgage companies and banks that offer the most competitive rates available in the market. A few home equity loan companies even offer a mortgage broker like service that helps customers find the best loan, with the lowest interest rates terms.

Before jumping on the internet to search for your next home equity loan you should consider the following:

  • Loan Application. What are the steps required to begin the home equity loan search?
  • Selection. How many banks does the company work with to find you the best home equity loan rate?
  • History. Does the home equity loan company have a solid reputation that you can feel good about?

TopConsumerReviews.com has reviewed and ranked the best Home Equity Loan providers available today. We hope these reviews help you find the right home equity loan for your needs!

A home equity loan could help you get the money you need for a renovation or emergency - here's how they work

A home equity loan allows a homeowner to borrow against the value of their home for renovations or other expenses.

Published:  Sun, 24 May 2020 06:19:00 GMT



10 Ways Homeowners Can Capitalize On Rising Home Equity

Even if many homeowners usually don't think about their house in terms of an asset, the truth is that a home is one of the most profitable assets a homeowner has and with rising equity, that ...

Published:  Wed, 20 May 2020 05:28:00 GMT



Cash-out refinancing, home equity lending may come to a halt

Fed Chair Jerome Powell warned this week, "The scope and speed of this downturn are without modern precedent, significantly worse than any recession since World War II." Oh, the good old days!

Published:  Thu, 14 May 2020 21:01:00 GMT



Is A Coronavirus Hardship Personal Loan Right For You?

Many credit unions and some banks are offering low-interest coronavirus hardship personal loans. Here's what to know before opting for one.

Published:  Tue, 26 May 2020 09:20:00 GMT



Mortgage Credit Tightens, Creating Drag on Any Economic Recovery

Housing is often the most immediate way the Federal Reserve transmits lower interest rates to the economy, as homeowners refinance to free up cash and as home buying spurs construction and spending.

Published:  Mon, 25 May 2020 16:31:00 GMT



Upcoming bank loan loss provisions won't be "fireworks', but will have a long-lasting impact

The magnitude of the loan losses will likely come from years of Canadians relying on debt, fuelled by a run-up in real estate values, allowing people to borrow against the value of their home.

Published:  Mon, 25 May 2020 17:06:00 GMT



Want to refinance home loans during the coronavirus pandemic? Check the interest rates

Refinancing can be smart for homeowners who have a high interest rate on their current mortgage, many years left to pay it off, or both, experts say.

Published:  Sun, 17 May 2020 03:06:00 GMT



What you can do now to plan for a home renovation later

Like everyone else, you've been spending lots of time at home during the past several weeks. And you've probably become more acquainted with all the flaws in your home: the outdated kitchen cabinets, ...

Published:  Tue, 26 May 2020 06:08:00 GMT



DAVID W. MYERS: Some lenders refusing to accept requests for new equity credit lines

Two of the nation's largest banks and several smaller lenders have temporarily stopped making new home equity loans, at least until the future of the ...

Published:  Sun, 24 May 2020 04:09:00 GMT



Our Latest Reviews

Bad Credit Loans

Bad Credit Loans

Buying Gold

Buying Gold

Cake Clubs

Cake Clubs

Cash for Gold

Cash for Gold

College Textbooks

College Textbooks

Gout Relief

Gout Relief

Investment Newsletters

Investment Newsletters

Photo Books

Photo Books

Photo Cards

Photo Cards

Slipcovers

Slipcovers

Share Us!   

Home      About Us      Terms & Conditions      Privacy Policy      Contact Us      Disclosure