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      October 14, 2019

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Quicken Loans 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 Quicken Loans 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

4 stars
Quicken Loans

QUICKEN LOANS Visit Site

Toll-Free Number:

877-715-0889

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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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!

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

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



Low Mortgage Rates Spark a Refinancing Boom

Mortgage rates that are hanging around their lowest levels in years have set off a borrowing stampede, especially among homeowners who see good opportunities to refinance. New data shows lenders are ...

Published:  Wed, 09 Oct 2019 12:25:00 GMT



Exclusive: Wells Fargo beefs up mortgage division to cope with higher volumes

It was not immediately clear how many employees the bank will add. The about-face comes as banks brace for a surge in mortgage activity fueled by lower interest rates. Refinancing activity, which ...

Published:  Thu, 10 Oct 2019 10:33:00 GMT



Mortgage Rates Drop Again-And First-Time Homebuyers Take Full Advantage

Much of this strength is coming from entry-level buyers." But it's not just first-timers who are getting in on the fun. Decreasing mortgage rates-which hit 3.57% this week-are also causing a surge in ...

Published:  Fri, 11 Oct 2019 11:53:00 GMT



Mortgages are on solid ground

The Oct. 3 front-page article "Government exposure to risky housing debt swells," which claimed that "the federal government has dramatically expanded its exposure to risky mortgages," was incorrect ...

Published:  Mon, 07 Oct 2019 15:06:00 GMT



In sharp reversal, Wells Fargo is hiring for its mortgage operations

The reason for the hiring isn't a shocker. The number of mortgage applicants seeking to refinance has more than doubled from a year ago, and applications to finance home purchases are up 10 percent ...

Published:  Thu, 10 Oct 2019 13:10:00 GMT



Refinance mortgage rate ratchets higher for Wednesday

A month ago, the average rate on a 30-year fixed refinance was higher, at 3.77 percent. At the current average rate, you'll pay $460.85 per month in principal and interest for every $100,000 you ...

Published:  Wed, 09 Oct 2019 04:33:07 GMT



Consumer Loans, Mortgages to Aid JPMorgan (JPM) Q3 Earnings

lower mortgage rates, which drove the refinancing activities, are expected to have partially offset the woes. Net interest income not of much support: A dismal lending scenario - mainly in the areas ...

Published:  Fri, 11 Oct 2019 06:55:00 GMT



Federal government has dramatically expanded exposure to risky mortgages

WASHINGTON - The federal government has dramatically expanded its exposure to risky mortgages, as federal officials over the past four years took steps that cleared the way for companies to issue ...

Published:  Sat, 12 Oct 2019 15:10:00 GMT



Reservation Indians pay more for mortgages

American Indians living on reservations who want to buy homes are significantly more likely to have high-priced mortgages, and those mortgage rates average nearly 2 percentage points higher, than ...

Published:  Sun, 06 Oct 2019 14:26:00 GMT



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