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Mortgage Refinance Reviews

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LENDING TREE

In business since 1996, LendingTree has built a superior website that streamline the refinance process. The number of lender relationships, the helpful tools, the professionalism and additional services all make LendingTree stand ahead of their competition.

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QUICKEN LOANS

Quicken Loans has a history of closing loans fast. Many loans close between 2-4 weeks, and are much quicker than the majority of lenders. We would have liked to have seen more information provided online, but we appreciate the solid reputation and excellent customer service at Quicken Loans.

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THE EASY LOAN SITE

The Easy Loan Site is designed to match prospective clients with various mortgage refinance lenders. The process of searching for potential is straightforward but the website lacks all the bells and whistles that the higher ranked companies provide.

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RATE MARKETPLACE

Rate Marketplace promises to match loan refinance companies with borrowers. However, what we found was that they simply sent us on to other mortgage referral companies. We felt this was both frustrating and a waste of our time. For those seeking assistance finding a competitive refinance loan, we recommend you choose a higher rated company on our list.

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MORTGAGE SEARCH 123

Mortgage Search 123 lacked the necessary credentials and information we were looking for to become comfortable with providing them any of our personal information. We also didn't like that their only focus was on saving homes from foreclosure.

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LOWER MY BILLS

Lower My Bills left us disappointed with the results their website provided. After taking the time to complete personal information regarding our mortgage, employment history and more we received four links to more websites where we had to start the inquiry process all over. Lower My Bills left us in the dark and wondering what they did with our personal information.

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Mortgage Refinance

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.

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!



Tips on Refinancing Your Mortgage

Record low interest rates are pushing people to consider refinancing their home mortgages. There are several reasons to consider refinancing your home.

  • Lower your interest rate. With decreasing interest rates, you can lower your monthly payment and the amount you pay in interest over time on the amount of your mortgage. Once you refinance, it's easy to want to refinance every time the interest rates drop. However, by doing so, in the long run you will end up paying more in closing costs. Consider only financing when you can save 2 percent or more in interest.
  • Get a different type of loan. Your current mortgage may no longer be suitable or financially viable. For instance, if you currently have an Adjustable Rate Mortgage (ARM), you may want to switch to a Fixed Rate Mortgage to lock in low interest rates.
  • Rid yourself of a balloon payment. If your current mortgage requires payment of a large balloon payment at the end of a specified period of time, you may want to refinance and negotiate a different type of loan so that you're no longer required to pay a balloon payment.
  • Consolidate debt. With record low interest rates, now is an excellent time to refinance your mortgage and consolidate some of your other debt into a home loan with a lower interest. Other types of debt such as car loans, credit card bills and school tuitions, typically have higher interest rates than home mortgages. These, as well as other types of debt, can be rolled into your home mortgage allowing you to take advantage of the lower interest rates than what these loans have.
  • Cash in on home equity. You may want to refinance in order to get cash out of your home equity for large expenditures such as a child's college tuition, home remodeling projects or a new car purchase.

Homeowners may face many challenges in the refinancing process. Low credit scores and depreciating property values can keep you from getting the refinancing you desire.

Also, there are times when it is best not to refinance. For example, if you anticipate moving or selling your house before you experience significant savings from refinancing then it might not be the best time to refinance. On the same note, if you've paid into a 30-year mortgage for 15 years or more, and you're considering refinancing into another 30-year mortgage, refinancing may not be the right answer as this option may end up costing you more in the end.

Refinancing your mortgage can save you money. Be sure it's the right option for you by researching terms and interest rates online before you sign on the dotted line.

 



Mortgage Refinance In The News

Nationstar Mortgage (NSM) Q2 2018 Earnings Conference Call Transcript

The good news is, on the refinance side, we are still recapturing over 50% ... 10 stocks we like better than Nationstar Mortgage When investing geniuses David and Tom Gardner have a stock tip, it can ...

Published:  Tue, 17 Jul 2018 13:56:18 GMT



Mortgage Loan Rates Mixed, Applications Fell Last Week

and the percentage of all new applications that were seeking refinancing rose from 34.8% to 36.5%. Adjustable rate mortgage loans accounted for 6.1% of all applications, down from 6.3% in the prior we...

Published:  Wed, 18 Jul 2018 04:35:00 GMT



MSRs For Sale On Over $2 Bil in Agency Loans

The loans are geographically distributed, and nearly two-thirds of loans were third-party originations. The offering includes mortgage-servicing rights on 14,112 single-family loans that collectively ...

Published:  Wed, 18 Jul 2018 17:35:00 GMT



Verus Mortgage Capital Increases Loan Amounts for Non-QM Programs

Verus Mortgage Capital (VMC) has announced increased loan amounts to $5 million for several of its non-QM programs, and higher LTVs for interest-only loans. VMC has increased loan amounts for: Investo...

Published:  Wed, 18 Jul 2018 13:42:00 GMT



Mortgage industry increases focus on jumbo loans amid rising home prices

Several players in the mortgage industry are increasing their focus on higher loan amounts for residential home buyers as home prices continue to increase. The median price for a home in California, f...

Published:  Tue, 17 Jul 2018 11:19:00 GMT



Nationstar Mortgage Holdings' (NSM) CEO Jay Bray on Q2 2018 Results - Earnings Call Transcript

Nationstar Mortgage Holdings (NYSE:NSM ... We are also the 15th largest originator originating over $20 billion in loans annually. Our Origination segment provides solutions to our customers and allow...

Published:  Tue, 17 Jul 2018 11:42:00 GMT



Western Asset Mortgage Capital Corporation To Report Second Quarter 2018 Financial Results

ABOUT WESTERN ASSET MORTGAGE CAPITAL CORPORATION Western Asset Mortgage Capital ... GSE Risk Transfer Securities and Residential Whole and Bridge Loans. The Company's investment strategy may change, s...

Published:  Mon, 16 Jul 2018 05:35:00 GMT




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