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      March 26, 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!

U.S Mortgages - Rates Slide Again, While Demand Rises

Mortgage rates fell by 3 basis points to 4.28% in the week ending 21 st March. The latest reversal saw mortgage rates continue to fall to the lowest level since the end of January last year.

Published:  Sun, 24 Mar 2019 03:03:00 GMT



FHA says as many as 50,000 mortgages will be affected by new lending rules

Two weeks ago, the Federal Housing Administration took steps to mitigate risks to its single-family portfolio, announcing updates to its TOTAL Mortgage Scorecard that will flag some loans for manual ...

Published:  Mon, 25 Mar 2019 11:40:00 GMT



Few black people get home mortgages in Detroit, data show

White people make up just 10 percent of Detroit's population but got nearly half of the home mortgage loans made in 2017 for which the race of the applicant was known. That data point and several more ...

Published:  Thu, 21 Mar 2019 03:38:00 GMT



FHA tightens underwriting standards on government-backed mortgages

The federal agency that insures mortgages for first-time home buyers is tightening its standards, concerned it is allowing too many risky loans to be extended. The Federal Housing Administration told ...

Published:  Mon, 25 Mar 2019 07:21:00 GMT



How this Nashville mortgage lender plans to compete with online giants

with roughly $618 million in local mortgages in 2017, according to NBJ research. Churchill is the region's 25th-largest mortgage provider, with more than $218 million in local mortgages.

Published:  Mon, 25 Mar 2019 11:52:00 GMT



The State of Mortgage Servicing

Banks serviced approximately 16.9 million first-lien mortgages by the end of December 2018, according to the Q4 Mortgage Portfolio and Performance report published by the Office of the Comptroller ...

Published:  Mon, 25 Mar 2019 09:31:00 GMT



Mortgage Apps: Refinancing Revives as Rates Retreat

Mortgage rates continued to slide during the week ended March 15 and the volume of mortgage application activity picked up in response. The Mortgage Bankers Association said its Market Composite Index ...

Published:  Wed, 20 Mar 2019 05:24:00 GMT



FHA tightening mortgage underwriting standards as credit scores decline

The Federal Housing Administration (FHA) is cracking down on riskier mortgages. The agency will put a larger share of mortgages through a more strenuous, manual underwriting process, after telling ...

Published:  Mon, 25 Mar 2019 10:35:00 GMT



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