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Quicken Loans 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 Quicken Loans 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.

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Best Reviews

2020

Mortgage Refinance Reviews

5 stars
Quicken Loans

QUICKEN LOANS

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TopConsumerReviews.com Best-In-Class Blue Ribbon Award Quicken Loans have been in business for over 25 years and currently has an A+ rating by the Better Business Bureau. Their name is a good representation for the turnaround time it takes for their loans to close. Most loans close between 2-4 weeks, which is considerably quicker than the majority of lenders.

The website is well designed and easy to follow. You can start the loan inquiry process online for free, however an application fee exists if you decide to move forward with the loan presented by Quicken. This fee to is to cover the cost of pulling your credit score and managing the process.

Inquiry Process:

  • Complete online request identifying mortgage goal, mortgage amount, home value, credit rating, contact information and more
  • A Home Loan Expert calls to verify your credit score and discuss your refinance goals
  • Get matched to a loan
  • Make a deposit to cover the loan processing costs

Quicken Loans offers a full-service, well designed website that helps you learn more about mortgages, refinancing, credit scores, and much more. Quicken Loans also provides credit repair information, in case you want to raise your credit scores.

With a strong reputation, we know that Quicken Loans has a lot to offer. They have an excellent history, closing thousands of loans in the last 25 years, and have a great customer service team. We would have liked to have seen more information provided online before speaking with a loan representative, but that's just a minor quibble. If you're looking for a quick mortgage refinance, Quicken Loans (877-715-0889) is a great place to start.

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1 star
Lower My Bills

LOWER MY BILLS

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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!

When should you refinance your mortgage?

Mortgage lending professionals say it's a great time to refinance a mortgage. However, homeowners looking to refinance right now should still do their homework to ensure they find the lowest possible ...

Published:  Tue, 02 Jun 2020 06:13:00 GMT



Mortgage Rates Hit New All-Time Low, But Rushing To Refinance Might Not Be Necessary

It was another record-breaking week for mortgage rates. According to the latest data from Freddie Mac, rates on 30-year loans bottomed out again, hitting a new all-time low of just 3.15%. That's down ...

Published:  Fri, 29 May 2020 13:50:00 GMT



3 mortgage refinancing mistakes that could prevent you from getting the best deal

A mortgage refinance loan can save you money but you need to be smart about when and how you refinance. Here are three common mistakes you should aim to avoid.

Published:  Mon, 01 Jun 2020 11:39:00 GMT



What it's like to refinance your mortgage in quarantine, according to a Florida couple who signed the papers through a screen door

Because their title agent made them feel safe during the coronavirus, this family was able to do a cash-out refinance and pocket $32,000.

Published:  Wed, 27 May 2020 12:53:00 GMT



Jump In Mortgage Refinancing Leads To Record-Breaking Loan Volume For Lenders

Low mortgage interest rates continue to fuel a surge in refinance activity amid the coronavirus pandemic, resulting in record-breaking loan volume for lenders.

Published:  Wed, 27 May 2020 14:42:00 GMT



This is why Warren Buffett thinks you should refinance your mortgage

If you own your own home, have you refinanced lately to cut your interest rate and monthly mortgage payment? Maybe you've been toying with the idea of trading in your mortgage for a new, cheaper one ...

Published:  Sat, 30 May 2020 21:43:00 GMT



Mortgage Outlook: Low, Stable Rates in June

June mortgage rates forecast. With mortgage rates so low, June is a good time to refinance. There's no need to rush, though: Interest rates might remain near record lows for month ...

Published:  Mon, 01 Jun 2020 05:18:00 GMT



Worried comments from Fed's Powell foreshadow even lower mortgage rates

In his newest remarks, he worried aloud about the possibility of a second round of infections - which he said could bring a longer and more feeble recovery. The Fed's words and actions have been ...

Published:  Tue, 02 Jun 2020 02:17:00 GMT



It's official: U.S. mortgage rates hit another all-time low

The 30-year fixed mortgage rate averaged 3.15 percent for the week ending May 28 - down from 3.24 percent last week.

Published:  Mon, 01 Jun 2020 03:00:00 GMT



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