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OT: Anyone ever use Lending Tree?

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We're looking to refinance our home due to the low interest rates. Our credit is excellent and we have plenty of equity in the house (it is valued much higher than what we owe and what we'd like to refinance). I remember that when we refinanced about eight, nine years ago, it was a hassle. Has anyone ever used Lending Tree? What was your experience? Or would anyone suggest another approach for a pretty straightforward refinancing request?





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Why not go to your current mortgage company?


We used LT for a refinance a number of years ago, it was fine. I'm remembering something about not giving every company the right to check your credit. I think when you fill out the app there is some kind of option like that, you need to approve each company before they check, or something like that.

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We used Lending Tree two or three weeks ago, since we were also considering a refinance. We were a bit disappointed, because they say that you'll likely get five or so lenders to talk to you. We ended up with two, one a mortgage broker and one a direct lender. We felt it was useful to get information from them in order to comparison shop and also compare with our current lender. We live in a small town, and the two lenders were from larger areas within our geographical region, but I thought there would be more response.


We're leaning toward our current lender, mainly to avoid the one point brokerage fee (although the broker's customer service is excellent - lots of follow up). The process seems easier to do with a current lender, although I tend to ask, why would your current lender *want* to refinance you at a better rate if you're already paying them at a higher rate?


Erica in OR

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i've used Lending Tree twice now. A few years ago i found a lender to refinance my house (and got 25,000 Delta miles in the deal). This summer I found a lender for a HELOC (and this time got a $50 Costco gift card). Both times were quite smooth and easy; the HELOC secured me a loan within 90 minutes of applying. glad i did it in july before the credit market fell apart!

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