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      October 21, 2019

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LendingTree vs Rate Marketplace

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 Rate Marketplace.

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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2 stars
Rate Marketplace

RATE MARKETPLACE Visit Site

Rate Marketplace is a California based company that started in 2013. They work to match refinance, car insurance, home mortgage seekers and more with actual lenders and insurance companies. They currently hold an A- Better Business Bureau rating.

We immediately noticed that the company is not very transparent in the lender networks they partner with. Much of the information we found about the company is related to finding more lenders, their primary source of income, rather than providing the who, when and where to the mortgage refinance customer.

The website is pretty basic and, despite some information about refinancing, including a handful of mortgage articles, we found almost no helpful information. The company asks that you dive into completing their quick online form to get started. They promise that up to 5 different lenders will contact you individually to discuss loan options.

Inquiry Process:

  • You complete online request with credit type, property type, home value, mortgage balances, income, contact details and more
  • A loan expert from a partner company calls to discuss loan options
  • You choose a loan from those described to you

We liked that Rate Marketplace doesn't require our social security number to send our information on to a lender but we couldn't help but wonder who was going to contact us and when. Outside of the anticipated phone calls, we also received a list of 6 mortgage lender websites to visit. We noticed that many of the companies listed were also referral sites and weren't sure why we had to go through the effort of completing a questionnaire if we weren't going to be directed to actual lenders. As with some other refinance lead generation companies we found that Rate Marketplace was ultimately a waste of time.

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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!

Four Things To Consider Before You Refinance Your Mortgage

Founder and CEO of Network Capital Funding Corporation writing about trends in the mortgage industry. Share to facebook Share to twitter Share to linkedin Refinancing a mortgage refers to getting a ...

Published:  Tue, 15 Oct 2019 05:24:00 GMT



Weekly mortgage refinance applications rise, even as home purchase demand falls

Mortgage interest rates rose last week, but that didn't throw any cold water on the mini-refinance boom that's been going on for the last month. Applications to refinance a home loan rose 4% from the ...

Published:  Wed, 16 Oct 2019 09:00:00 GMT



Mortgage rates drop once again - sparking more interest in loan refinancing

While the decline in rates has prompted many home owners to refinance their loans, it may not be enough to create a major uptick in home-buying activity So far the drop in mortgage rates has mostly ...

Published:  Fri, 11 Oct 2019 14:16:00 GMT



17 Best Suburbs With Mortgages Under $1,000 a Month

People in Lexington, South Carolina, enjoy a county property tax rate of 0.541%. It's the third-lowest rate among the best suburbs with mortgages under $1,000 per month, which makes homeownership in ...

Published:  Fri, 18 Oct 2019 07:29:00 GMT



Spike in U.S. mortgage activity catches big banks flat footed

Bank of America, one of the largest U.S. mortgage originators, now takes 41 days, on average, to close a purchase loan, a person familiar with the matter said. Refinancing has climbed to 60 days, ...

Published:  Fri, 18 Oct 2019 04:08:00 GMT



Kiplinger's Personal Finance: How reverse mortgages can help retirees weather market storms

Reverse mortgages have often been branded as a way for older retirees to raise money only when other sources of retirement income have dried up. But a growing group of financial planners and academics ...

Published:  Sat, 19 Oct 2019 19:30:00 GMT



Why are Kenyans avoiding mortgages?

The issue of mortgages has been a dicey one in Kenya with a number of risk factors cited as impediments to home ownership. Interestingly, these factors have hardly changed over the years despite ...

Published:  Thu, 17 Oct 2019 01:00:00 GMT



Changes May Be Coming To Reverse Mortgage Rules, But What Do They Mean?

In 2012 alone, FHA reported a loss on reverse mortgages so large it prompted a request from Treasury of $1.7 billion in 2013. Since losses are not reported until years after loan origination, those ...

Published:  Fri, 18 Oct 2019 05:35:00 GMT



How long does it take to refinance a mortgage?

The time it takes to refinance a mortgage depends on a number of moving parts, such as credit checks, appraisals and your lender. This process can take about 45 days to as few as 15 days. Traditional ...

Published:  Mon, 14 Oct 2019 10:00:00 GMT



Mortgage Rates Drop Again - Sparking More Interest in Home-Loan Refinancing

... Mortgage rates fell yet again on a weekly basis thanks to the declining yield on ...

Published:  Mon, 14 Oct 2019 23:53:00 GMT



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