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      October 17, 2019

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The Easy Loan Site 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 The Easy Loan Site and Rate Marketplace.

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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

3 stars
The Easy Loan Site

THE EASY LOAN SITE Visit Site

The Easy Loan Site is a no frills mortgage refinance site that focuses on connecting consumers with mortgage lenders based on each consumers situation. The Easy Loan Site has an A rating from the Better Business Bureau and is Norton secure certified, so we had a feeling of reliability from the start.

The website as we said is no frills, to a fault. There are no investment research tools, market analysis or any of the other helpful features we found on some other mortgage refinance sites. The main page simply states the company name, advertises the lowest rate available today, and tempts clients to “lock in now.” There is a simple drop down menu box from which you select the type of loan you are looking for (new mortgage, refinance, or equity loan) and then continues to take you through a long list of questions designed to determine which lenders could provide the best deal based on the requirements of the client.

Inquiry Process:

  • Complete online application with type of loan, amount, credit rating estimate, location, and description of the property
  • See a list of 3-5 potential lenders and their rates, with contact information
  • Receive calls from potential lenders 24+ hours later

The process for filling out the online form is made very simple with the use of this drop down window. In less than a minute we were able to navigate through the various questions and get to a screen that showed us three competing lenders with rates that looked fairly competitive. We were also given notice at that point that we would be contacted by lenders within 24 hours.

Everything worked as it should, but the experience left us a little unimpressed because the site offered so little other than a basic loan search engine. With no research tools or any other information, The Easy Loan Site may be a fine place to look for a mortgage lender but a basic search engine is about all they offer.

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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!

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



Four Things To Consider Before You Refinance Your Mortgage

Refinancing a mortgage refers to getting a new mortgage to replace the original one. It can be a strong tactic for borrowers with good credit history in search of a lower fixed interest rate instead ...

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



Big Banks' Mortgage Operations Lose Cash-Cow Status on New Rules

For the biggest U.S. banks, a mortgage refinancing boom once would've meant a dependable stream of profits that could swing a quarter. Those days appear to be over. At Wells Fargo & Co., the nation's ...

Published:  Tue, 15 Oct 2019 13:51:00 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



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



UPDATE 1-Dutch cbank: banks must hold 3 bln euros extra capital for mortgages

It said it would increase the average risk weighting for mortgages to 14%-15% from the current 11%. In the report, the bank also warned that continuing low interest rates pose a challenge to stability ...

Published:  Mon, 14 Oct 2019 23:33:00 GMT



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