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      August 17, 2019

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LendingTree vs Lower My Bills

Best Mortgage Refinance Companies

To help you find the Best Mortgage Refinance Programs, TopConsumerReviews.com provides you with an in-depth comparison of LendingTree and Lower My Bills.

To see ALL of our reviews for the Best Mortgage Refinance Programs, please Click Here

When is it a good time to refinance your mortgage? If your existing mortgage rate is higher than the current rate for your credit score and mortgage type, you need to explore it. Would you like to lower your mortgage payment to make your house more affordable? Are you considering updates to a kitchen or a bathroom, and want to get some extra cash to afford them?

Before you stop off at the local bank to discuss home refinancing you should consider comparing refinance options online. Just visiting your local bank won't give you your best rate, which means you'll pay more. Refinancing your home through an online mortgage refinance company lets you quickly find the best rate given your credit worthiness, loan size and type.

Continue reading below reviews

Best Reviews

2019

Mortgage Refinance Reviews

5 stars
LendingTree

LENDINGTREE Visit Site

TopConsumerReviews.com Best-In-Class Blue Ribbon Award LendingTree is truly a one stop shop for all your mortgage refinancing needs. In business since 1996, LendingTree has helped thousands of customers successfully refinance their mortgage. They currently hold an A+ rating with the Better Business Bureau and provide the most user-friendly, comprehensive mortgage refinancing website available.

LendingTree allows you to enter all the necessary details and information directly into their system, and quickly move forward to find the best mortgage lender. This process is free and secure. Impressively, LendingTree has relationships with over 150 lenders. Once your details are entered online, they automatically find up to 5 lenders with refinance rates available to you.

Inquiry Process:

  • Complete online request identifying property type, your credit rating, property location, mortgage amount, and contact information
  • Receive up to 5 online offers from lenders in minutes
  • Compare mortgage rates and terms for each loan
  • Choose the loan that best fits your needs

We really liked the helpful tools on the website that assist with calculating what we could afford and how much cash we could take out of our existing home. For those with a lower credit score, LendingTree provides information on credit repair and a credit monitoring service to make sure your rate is as good as possible.

Overall, LendingTree has built a superior refinancing website that serves to streamline the mortgage refinance process in the most efficient manner. The number of lender relationships, the helpful tools, the professionalism and additional services all make LendingTree stand ahead of the pack. If you're considering refinancing your mortgage, you owe it to yourself to check out LendingTree.

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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 thought is, if you can find a lower cost provider you can save money on your monthly bills.

The process of obtaining those promised free quotes was simple and included answering questions related to the type of home, your credit score range, the year of original purchase, home value, mortgage balance, 1st and 2nd mortgage information, purpose of refinance, 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.
  • 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. For example, we put in an Indiana address and zip code and some of the results were for Fresno California. This left us wondering what Lower My Bills was planning to do with our personal information.

If the goal of Lower My Bills was to provide convenient rate mortgage rate comparison information - they failed. If the effort was to lure people into providing personal and financial information for the purpose of potentially selling to other companies, they were successful.

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Continued from above

The best refinance companies allow several banks to compete for your loan, in order to provide you the lowest mortgage payment. They save you the hassle of calling several banks and lending institutions, and completing multiple refinance applications.

But not all online mortgage refinance brokers are the same. Before you start your search you should consider the following:

  • Number of Lenders.  How many banks and lenders does the company work with to find you the best rate? The larger the number, the more likely you'll receive the best rate.
  • Application process.  What is the process of gathering the information needed to begin the mortgage search?
  • Timeliness.  Are you going to have to wait for a call to discuss all of the necessary details, or will the online application expedite the process and provide you the details you're looking for?

TopConsumerReviews.com has reviewed and ranked the best online mortgage refinance providers available today. We hope these reviews help you as you decide to refinance your mortgage!

Fannie Mae predicts surge in mortgage refinancing following Fed rate cut

It is expected that 35% of all new mortgages in 2019 will be made up of refinanced mortgages, according to a report from Fannie Mae (FNMA) out on Thursday. This is up from 29% in 2018 and suggests ...

Published:  Thu, 15 Aug 2019 05:36:00 GMT



Drop in mortgage rates is a boon for homebuyers and refinancing

Worries about the world economy and the shaky stock market have given homebuyers a windfall. Home mortgage rates have plunged to near historic lows, making it much cheaper to finance a property ...

Published:  Fri, 16 Aug 2019 04:00:00 GMT



Mortgage-Refinancing Rush Is On as 35% of Mortgages Now Eligible for Lower Rates

President Donald Trump's trade war with China is hurting U.S. manufacturers and casting a pall over the stock market, but there's a silver lining for households: mortgage rates at their lowest in ...

Published:  Thu, 15 Aug 2019 09:40:00 GMT



Mortgage rates rest near historic lows as the specter of a recession roils markets

Read more: Mortgage rates haven't been this low since 2016 - here's how to decide whether to refinance your home loan The inverted yield curve won't have a direct effect on mortgage rates, though, ...

Published:  Thu, 15 Aug 2019 08:07:00 GMT



Mortgage rates level off at multiyear lows as investors stay away from mortgage-backed securities

Mortgage-backed securities are investments in mortgages that have been bundled together. Most MBS are guaranteed by Fannie Mae or Freddie Mac. "Concerned about early mortgage payoff in a falling rate ...

Published:  Thu, 15 Aug 2019 08:23:00 GMT



Weekly mortgage refinances spike 37% in one week as rates fall further

Volume zoomed 81% from a year ago. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances decreased to its lowest level since November 2016, 3.93%, from 4.01 ...

Published:  Wed, 14 Aug 2019 09:35:00 GMT



New FHA Guidelines Expand Access To Condo Mortgages

The Federal Housing Administration issued new guidelines Wednesday that aim to streamline the agency's approval process for condominium projects. The long-awaited regulations are designed to promote ...

Published:  Thu, 15 Aug 2019 05:10:00 GMT



Federal agency supports more condo mortgages

WASHINGTON (AP) - The Federal Housing Administration is changing regulations to make it easier for more first-time condo buyers to receive mortgages. The federal agency released new guidelines ...

Published:  Wed, 14 Aug 2019 17:33:00 GMT



U.S. Applications to Refinance Mortgages Surge for a Second Week

(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Applications to refinance homes in the U.S. surged last week as mortgage rates ...

Published:  Thu, 15 Aug 2019 05:42:00 GMT



I'm refinancing my mortgage. Do I need to hire an attorney?

A. A refinance is a bit different. Generally, most refinances in New Jersey can be handled directly between the borrower, the mortgage lender and a settlement agent - usually a title company - that's ...

Published:  Thu, 15 Aug 2019 13:03:00 GMT



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