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      January 29, 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!

Low Mortgage Rates Spark a Refinance Wave. Should You Refi?

As mortgage rates have slid in the direction of record lows, refinancing has become a top priority for U.S. homeowners. Refinances have been making up the majority of applications for new mortgages, ...

Published:  Sat, 25 Jan 2020 16:12:00 GMT



Over 6.8 million homeowners can cut their mortgage payments with refinancing

With the average interest for 30-year fixed-rate mortgages below 4 percent again, millions more homeowners can save money by refinancing their loans. The recent drop in rates mean that 6.8 million ...

Published:  Sat, 25 Jan 2020 10:01:00 GMT



4 key questions to ask now before you decide to refinance your mortgage

With interest rates at near historic lows (again), refinancing might be on your radar, which means you may be able to swap out your old, higher interest rate for a new one with lower rates. But will ...

Published:  Tue, 21 Jan 2020 08:44:00 GMT



Tremont Mortgage Trust Provides $14.0 Million First Mortgage Bridge Loan for the Refinancing of 940 Linden Street in Allentown, PA

today announced the closing of a $14.0 million first mortgage bridge loan to refinance a five-story, 1,100 space structured parking garage in Allentown, PA. This floating rate loan was fully funded at ...

Published:  Mon, 27 Jan 2020 16:02:00 GMT



Refinancing Boom Fuels Mortgages to Postcrisis Record

The mortgage market in 2019 had its best year since the height of the precrisis boom, the latest sign that housing is firming up after showing signs of weakness early last year.

Published:  Fri, 24 Jan 2020 08:32:00 GMT



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