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      November 17, 2018

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Rate Marketplace Review

Best Mortgage Refinance Companies

To help you find the Best Mortgage Refinance Programs, TopConsumerReviews.com provides you with an in-depth Rate Marketplace Review.

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

2018

Mortgage Refinance Reviews

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!

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Mortgage rates forecast for 2019: experts weigh in

"I would encourage anyone refinancing from an adjustable rate mortgage or a home equity loan with a stale floating rate to do so sooner rather than later," suggests Goldrick. Others say it's ...

Published:  Fri, 16 Nov 2018 11:35:00 GMT



Mutual Mortgage Insurance Fund Outperforms for Fourth Year in a Row

The MMI Fund supports FHA's single-family mortgage insurance programs, including all forward mortgage purchase and refinance transactions, as well as mortgages insured under the Home Equity Conversion ...

Published:  Fri, 16 Nov 2018 07:24:00 GMT



Retirement interest only mortgages

A new type of mortgage is establishing itself as an option for older borrowers who want to free up equity from their home, or combine paying for their home with saving for retirement or care costs. Re...

Published:  Fri, 16 Nov 2018 06:32:00 GMT



30-year mortgage rate flat; still highest since 2011

The average fee on 30-year fixed-rate mortgages was unchanged from last week at 0.5 points. The fee on 15-year mortgages fell to 0.4 points from 0.5 points last week. The average rate for five ...

Published:  Fri, 16 Nov 2018 20:40:00 GMT



Higher mortgage rates and unsettled stock market scare off potential homebuyers

according to the Mortgage Bankers Association. Purchase applications declined by 2.3 percent and hit their lowest volume since February 2017. Refinance activity also slowed. The number of refinance ap...

Published:  Wed, 14 Nov 2018 06:10:00 GMT



FHA: No PLF changes for reverse mortgages

The Federal Housing Administration released its 2018 Report to Congress on Thursday, revealing that the reverse mortgage program continues to be a drain on its flagship Mutual Mortgage Insurance Fund. ...

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