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We have been shopping for a mortgage lender and would like to know if anyone has used a lender like lending tree. I an reluctant to provide the kind of personal financial information they require.

7 Thoughts on Has anyone used an internet mortgage lender?
  1. Reply
    January 26, 2014 at 1:32 pm

    Oh! Another dragonfly!

    No I haven’t used them, and yes, I’d be worried about all of that data because you don’t want a bunch of bozos pulling your credit report and driving your credit score down. I used CTX Mortgage and they were good. They are their own lender so their margins are bigger than many banks because they are lending out their own money. Or try if it’s your first home.

  2. Reply
    January 26, 2014 at 2:09 pm

    Internet lenders such as those at Lending Tree are very reputable. Lending Tree itself pulls your credit and forwards them to the prospective lenders. It’s basically a referral source for the lenders that will contact you with the rates and YOU decide who has the best offer for your situation! They are not bozos that don’t know what they are doing. Your credit only gets pulled AFTER the lender you have decided to go to has verbal authorization from you to do so.

  3. Reply
    January 26, 2014 at 2:24 pm

    For refinances a online lender is good. For good quality credit and online lender is good. For all others try a local mortgage broker.

    I suggest you shop mortgage broker as hard as you shoped for your house. A good mortgage broker has hundreds of sources for money and all the money sources have different requirement and different rates. SO a good local mortgage broker is usually best.

  4. Reply
    January 26, 2014 at 2:33 pm

    My realtor claims people have trouble with them. Specifically the title work. I don’t know personally.

  5. Reply
    January 26, 2014 at 2:36 pm

    Its like saying is there a profession where everyone is honest I have had bad stories about lending tree but then i have had bad stories about any professions, Doctors Layers, police anyone will have a bad story because misery loves company. Are there good stories….. well then people tend to keep them to themselves. I have been to a major Lending body and been ripped off big time and to a small company and been ripped off again. I then found a broker who was referred to me and now i get honest answers to my questions about home finance and now i wont go anywhere else. The best idea is to ask people who they use and if they are happy with them. Word of mouth is the best way to get the real facts.

  6. Reply
    January 26, 2014 at 2:44 pm

    Nothing is better than dealing with someone one to one. Your home is the biggest asset that you have and mabey the biggest financial decision you make is to buy or refinance your home. Let me ask you this….. if you were sick would you go see a doctor or use WebMD???? From experience on both ends …. it’s ok to research on the internet, but it’s not the place to apply for a loan…..You rarely get what your promised and nobody is interested in building a relationship with you…..

    If you want 20 mortgage companies calling you every night from now till 2020…….. then by all means….. buy and internet loan….

  7. Reply
    mortgage maven
    January 26, 2014 at 3:16 pm

    Lending Tree isn’t a lender, but rather a lead-generator for mortgage companies.

    You submit your information to Lending Tree and they then send it to lenders who pay them for leads that fall within certain parameters (credit score, loan amount, etc.).

    Your data, however, is very safe.

    If you want to go directly to an online lender I recommend eLoan (for “A paper” loans) or NationPoint (for subprime).

    Good Luck! 🙂

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