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Freedom Mortgage vs Lower My Bills

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FREEDOM MORTGAGE

Freedom Mortgage is a New Jersey based company that provides a variety of home loan and refinancing options. In business since 1990, Freedom has helped thousands of customers with their home loan needs and works with customers in all 50 states. Freedom serves as the mortgage originator and loan servicer but also states that they have lending partners.

The application process is pretty straightforward and traditional at Freedom Mortgage.

Inquiry Process:

  • Complete an online request identifying your name, contact information, address history, property details, sources of down payment, tax information, sources of income, employment address, details of assets, a long list of declarations, and ethnicity.
  • A Home Loan Expert calls to verify your credit score and discuss your loan.
  • If approved the loan detail options will be sent via email.

The Freedom website has an extensive list of tools for the home buyer. Identify mortgage rates, the difference between loan types, mortgage calculators, education tools and much more. The website also offers a blog with a plethora of additional articles and details on home loans.

Freedom also offers a pre-qualification process if you have not yet identified the home you wish to buy. The process is similar to that of applying for a loan and the anticipated turn around is typically a few days.

Freedom Mortgage doesn't have all of the bells and whistles of those companies ranked higher. Specifically, the list of potential competitive loan choices are shorter. Freedom is similar to finding a local lender but without the hassle of making an appointment, leaving work and being fixed to bank hours. Freedom does offer a nice variety of loan types and their customer representatives.

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LOWER MY BILLS

Lower My Bills is a free online service that provides rate comparison information for home loans, refinance loans, home equity loans, debt consolidation and more. Their philosophy is that if you can find a lower cost provider you can save money on your monthly bills. The process of obtaining those free quotes is simple and includes answering questions related to the type of home, credit score range, mortgage size, down payment, 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.
  • You're directed to some, none or up to 4 website links that take you to new companies that again require you complete the inquiry process.

Like many visitors of Lower My Bills, after 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.

Lower My Bills missed the mark in providing, convenient and informative loan rate information. We felt the effort was an unfortunate waste of our time.

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Home Loans

To help you find the Best Home Loans, TopConsumerReviews.com provides you with an in-depth comparison of Freedom Mortgage and Lower My Bills.

Today, home loan rates and home prices are very favorable to the buyer. Not only can you find a great home at a good price, you can usually borrow money at very affordable rates. And lending companies are once again eager to loan money to well qualified buyers.

A savvy home buyer should take the time to determine which home loan lender has the best home loan rates. Shopping for the right home loan can save you thousands of dollars in interest and mortgage payments. A low home interest rate can also enable you to pay off your home loan years ahead of schedule.

Traditionally this involved visiting different banks and lending institutions, filling out paperwork, and waiting for a reply to come in the mail. Using the internet, however, makes this process much easier. With this latest trend in finding a home mortgage, you can easily browse through offers from a variety of lenders in the comfort of your own home. You'll find that online home loan lenders often offer the best home loan rates.

Before you begin your home loan search, you should consider the following:

  • Application process. What is the process of inquiring for a home loan? Can you expect a phone call or does the home loan company offer a more convenient online application process?
  • History. What might you qualify for, given your credit history, size and type of home loan desired? Does the home loan company have a history of effectively and professionally assisting consumers?
  • Number of Lenders. How many lenders does the company work with to find you the best home loan rate? How does this compare?

TopConsumerReviews.com has reviewed and ranked the best Home Loans available today. We hope these reviews help you find the loan that meets your financial needs!



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