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Mrs. Ellis, Home Buyer in Pearland, TX

IS IT WISE TO USE LENDING TREE VERSUS THE TRADITIONAL STANDARD WHEN SHOPPING FOR A HOME LOAN?

Asked by Mrs. Ellis, Pearland, TX Fri Jul 6, 2007

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I concur with Michael on this topic and usually refrain from publically saying something negative about an individual or company. However, I have had several experiences with this particular lender, none of which were pleasant or went smoothly.

I believe that your all-around best rate and service will be found dealing with a local financing source. There are several key variables to look at or consider when shopping for and comparing lenders to ensure that you are comparing "apples with apples." If you bank with a credit union, I suggest that you start there. Or, your traditional bank where you have your checking account is also a good place to start. Ask your close friends, family or trusted neighbors for a recommendation. Better yet, if you are working with a real estate professional, ask him or her for 3 referrals. Realtors work with a variety of lenders, attorneys and various service providers every day. We do not receive compensation for such referrals (it is unethical and, in most cases, would be illegal); however, what we do gain for our clients is confidence and trust that they will be well taken care of and given good service at a fair & reasonable price. My preferred industry partners know that if they do not perform to my expectations and those of my clients, they will hear about it from me and could potentially loose out on future referral business.

Best wishes with your home & lender search. - Ted Shoop
1 vote Thank Flag Link Fri Jul 6, 2007
TED SHOOP, Real Estate Pro in Buford, GA
MVP'08
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I would not recommend Lending Tree, they have gotten themselves in a lot of trouble. Ask friends for a reputable broker in your area that has access to many different programs depending on your needs.
1 vote Thank Flag Link Fri Jul 6, 2007
Lending Tree and Bankrate generally offer teaser rates. Some of the rates offered are even impossible to get. Watch out for unscrupulous banks and mortgage companies!
Web Reference: http://www.bowenboston.com
0 votes Thank Flag Link Tue Jul 10, 2007
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