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      June 2, 2020

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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

2020

Mortgage Refinance Reviews

2 stars
Rate Marketplace

RATE MARKETPLACE

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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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Is now the best time to refinance your mortgage?

If one of your main goals in seeking a mortgage refinance is finding the lowest interest rates, it pays to do some comparison shopping. When it comes to refinance rates, mortgage lenders aren't all ...

Published:  Fri, 29 May 2020 11:22:00 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



Why mortgage refinance activity is sliding when rates are so low

Refinance demand is slipping, after a frenzy of refinance activity in mid-March, when sub-3% mortgage rates caused a spike of refinancings to a 17-year record.

Published:  Wed, 20 May 2020 13:32:00 GMT



Refinancing your mortgage will save you the most money in these cities right now

CLOSING COST MORTGAGE REFINANCING. Some areas of the country are experiencing more favorable mortgage rates than others, so if you live in one of these cities, th ...

Published:  Wed, 27 May 2020 05:48:00 GMT



Mortgage regulator to loosen refinance restrictions for home loans in forbearance

People will have an easier time refinancing loans backed by Fannie Mae and Freddie Mac following being in forbearance based on new rules regulators ...

Published:  Wed, 20 May 2020 05:19:00 GMT



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