- Bargaineering - http://www.bargaineering.com/articles -
LendingTree Not As Fast, or Good, With Refinancing Quotes Now
Posted By Jim On 12/22/2008 @ 8:25 pm In The Home | 6 Comments
When I bought my house three years ago, I used LendingTree  to get some financing offers to get a better feel for what rates for someone like me. Within an hour or two of when I submitted the request, I had someone from LendingTree call me  to tell me they were coordinating the lending offers. Within an hour of that I had a response from LendingTree that included several rate quotes from multiple lenders, I was genuinely impressed with how quickly that process was.
Today was a totally different story. I submitted my request in the morning and it wasn’t until 5 PM that I saw some “quotes” roll in. I put that in quotes because it was one lender with three quotes depending on what loan I wanted. By then I had talked to a local lender and a loan officer from BB&T, where my current mortgage is. The loan offer was from a lender in Kentucky and it was far inferior to the one offered by BB&T (the local lender will get back to me tomorrow). Maybe it’s because we’re so close to the holidays, maybe it’s because we’re in a sagging housing market, or maybe because I’m a weak borrower, but it’s overall a pretty lackluster response.
Here are the offers so far on the table (obviously pending credit checks and whatnot):
Assuming the closing costs are going to be similar, the SurePoint offer doesn’t come close to the MM&T Mortgage and I’m inclined to stick with the bank I’m already with. I didn’t set up my loan with BB&T, they bought it, but I haven’t had any problems and they’re offering a much cheaper option.
Perhaps tomorrow will bring more quotes but I’m not holding my breath, it looks like the number to beat is 4.875% with no points.
Article printed from Bargaineering: http://www.bargaineering.com/articles
URL to article: http://www.bargaineering.com/articles/lendingtree-not-as-fast-or-good-with-refinancing-quotes-now.html
URLs in this post:
 Tweet: http://twitter.com/share
 Email: mailto:?subject=http://www.bargaineering.com/articles/lendingtree-not-as-fast-or-good-with-refinancing-quotes-now.html
 LendingTree: http://www.bargaineering.com/articles/r/lendingtree.php?tag=LTslow
 someone from LendingTree call me: http://www.bargaineering.com/articles/lendingtree-is-ridiculously-fast.html
 title insurance BS: http://www.bargaineering.com/articles/title-insurance-a-totally-legal-scam.html
Thank you for reading!