Anyone had success getting a mortgage online?

[adams]

Has anyone used a service such as Lending Tree, E-loans or Quicken Loans? I'm wondering if you really can get better rates or simplify the lending process. Thanks for any input.

 

[FelixDeCat]

quite a few have, good luck.

 

[RU482]

nope

 

[DrPizza]

We used Lending Tree for a house we ended up not closing on. In my personal opinion, stay farrrrrrr away from Lending Tree... it seems to attract shadier mortgage brokers. I'm sure my experiences are somewhere here in the archive, if you're willing to search.

I am still bitter over the whole experience... we lost out on a 4 bedroom farmhouse with a HUGE barn, garage, other buildings, 114 acres, pond,... all for 90k on a foreclosure. Thanks, Lending Tree for referring me to someone who we ended up having to report to the state board of (whatever it is... governs banking institutions.)

2nd time around, a couple months later, we went with a local recommendation from our new realtor. I highly recommend going that route. We still had problems though... purchasing yet another foreclosure property, 30 days to close. 14 days before closing, our bank backed out because of a heating system issue. We got a recommended mortgage broker. It ended up costing us an extra 2k, but we got a better loan rate and terms; it'll more than pay for the broker in the long run.

 

[HomeAppraiser]

:thumbsdown: on Lending Tree. Ditech.com FTW! No up front fees and $395 closing costs.

 

[huberm]

i dealt w/ an online broker. Only talked with him once on the phone day of closing.

 

[whistleclient]

Originally posted by: DrPizza
We used Lending Tree for a house we ended up not closing on. In my personal opinion, stay farrrrrrr away from Lending Tree... it seems to attract shadier mortgage brokers. I'm sure my experiences are somewhere here in the archive, if you're willing to search.

I am still bitter over the whole experience... we lost out on a 4 bedroom farmhouse with a HUGE barn, garage, other buildings, 114 acres, pond,... all for 90k on a foreclosure. Thanks, Lending Tree for referring me to someone who we ended up having to report to the state board of (whatever it is... governs banking institutions.)

not to steal the thread, but how do i find foreclosure properties in my area?

 

[SearchMaster]

I think we used Lending Tree back during the internet boom of the late 90s. It was a great experience, we got a very good (at the time) interest rate, and they came to our house to close. It was for a refi/consolidation, as we had taken out a HELOC to have an addition done and wanted to combine the two higher interest rate loans.

 

[adams]

Thanks for the replies... Anyone else?

 

[SLCentral]

Don't know any specifics, but I know my dad used Lending Tree last year to refinance the mortgage.

 

[markgm]

I was approved at a much higher rate with them than what was quoted on the site. When I mentioned the rates on the site and how I could get them I just got silence (I have good credit and all of that stuff.)

I went with Countrywide and am happy with them.

 

[DrPizza]

Originally posted by: tangent1138

Originally posted by: DrPizza
We used Lending Tree for a house we ended up not closing on. In my personal opinion, stay farrrrrrr away from Lending Tree... it seems to attract shadier mortgage brokers. I'm sure my experiences are somewhere here in the archive, if you're willing to search.

I am still bitter over the whole experience... we lost out on a 4 bedroom farmhouse with a HUGE barn, garage, other buildings, 114 acres, pond,... all for 90k on a foreclosure. Thanks, Lending Tree for referring me to someone who we ended up having to report to the state board of (whatever it is... governs banking institutions.)

not to steal the thread, but how do i find foreclosure properties in my area?

Go to a realtor. There are dozens (100's?) of companies that are happy to sell you that information. But, do you think the people who work for banks are morons? Of course they're going to list with a realtor - they want as much money as they can get for a property. However, they also want to sell a property as quickly as possible. The big difference is that banks will *not* do any work on a property to satisfy your lender's requirements. The houses are sold "as is." The place we bought didn't have a heating system - the hot water baseboard system was ruined from freezing pipes after the heat was turned off. That made it exceptionally hard to get a mortgage (in the northeast) Because of this, 4 buyers before us were unable to close... the price kept falling until we purchased it.