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Old 04-08-2015, 04:36 PM
 
3,975 posts, read 3,144,665 times
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Quote:
Originally Posted by AmFest View Post
If you want to find a competitive lender, use Zillow.com, then discuss the terms with the loan officer from the lender you select.
Will that be an online thing or result in-person service?
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Old 04-09-2015, 12:48 PM
 
1,417 posts, read 810,529 times
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Quote:
Originally Posted by Quaker15 View Post
Will that be an online thing or result in-person service?
Zillow mortgage results in a broker calling you and then you do everything with the broker. I saved thousands of dollars using zillow mortgage over going to a bank, and the rates and terms were also much better than lendingtree.

The cool thing about zillow is that the brokers have to stick to the quotes given by zillow, so you don't get screwed.
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Old 04-09-2015, 03:42 PM
 
2,409 posts, read 2,492,415 times
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Quote:
Originally Posted by NYCresident2014 View Post
Zillow mortgage results in a broker calling you and then you do everything with the broker. I saved thousands of dollars using zillow mortgage over going to a bank, and the rates and terms were also much better than lendingtree.

The cool thing about zillow is that the brokers have to stick to the quotes given by zillow, so you don't get screwed.
Yup. I'm surprised Zillow isn't the default route (yet). Zillow is like the amazon of mortgage shopping.
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Old 04-09-2015, 07:10 PM
 
7,672 posts, read 9,340,139 times
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We did a refi online, it was great. Very painless. I would do it again if I didn't have a great local loan officer here.
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Old 04-09-2015, 09:35 PM
 
3,975 posts, read 3,144,665 times
Reputation: 2210
Quote:
Originally Posted by NYCresident2014 View Post
Zillow mortgage results in a broker calling you and then you do everything with the broker. I saved thousands of dollars using zillow mortgage over going to a bank, and the rates and terms were also much better than lendingtree.

The cool thing about zillow is that the brokers have to stick to the quotes given by zillow, so you don't get screwed.
So, it's basically a phone thing instead of a person thing or email thing?
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Old 04-09-2015, 10:39 PM
 
Location: Phoenix, AZ > Raleigh, NC
14,318 posts, read 17,526,265 times
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Quaker, I'm guessing that this is your first refi. Do yourself a big favor and avoid Zillow, lending tree,etc.

Ask your ex Realtor for recommendations for mortgage brokers. Ask your trusted resources (friends, neighbors, co workers, business associates, CPA, etc). If one recommends a relative, ignore it (with rare exceptions). Get 2-3 referrals and contact them all. Stop looking at online referrals and reviews. You're not going out to dinner or getting a hotel room.

You need to find a broker you can trust who will hold your hand thru the process and not *********. How can you know from zillows paid advertisements and fake reviews? How can you know from lending tree who sells the leads to nearly anyone who will pay?

And check your credit union.

As I said earlier in this thread, online lenders can be great IF YOU KNOW THE PROCESS. You don't this time around. Don't make an expensive mistake.
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Old 04-09-2015, 10:50 PM
 
2,409 posts, read 2,492,415 times
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Quote:
Originally Posted by Jkgourmet View Post
Quaker, I'm guessing that this is your first refi. Do yourself a big favor and avoid Zillow, lending tree,etc.

Ask your ex Realtor for recommendations for mortgage brokers. Ask your trusted resources (friends, neighbors, co workers, business associates, CPA, etc). If one recommends a relative, ignore it (with rare exceptions). Get 2-3 referrals and contact them all. Stop looking at online referrals and reviews. You're not going out to dinner or getting a hotel room.

You need to find a broker you can trust who will hold your hand thru the process and not *********. How can you know from zillows paid advertisements and fake reviews? How can you know from lending tree who sells the leads to nearly anyone who will pay?

And check your credit union.

As I said earlier in this thread, online lenders can be great IF YOU KNOW THE PROCESS. You don't this time around. Don't make an expensive mistake.
The lenders on Zillow include the big banks such as Bank of America. What process is there to know? The lender will walk you through everything. The expensive mistake will be paying thousand of dollars too much in closing costs or annual payments.
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Old 04-10-2015, 11:34 AM
 
Location: New York
2,251 posts, read 4,164,578 times
Reputation: 1607
Quote:
Originally Posted by Jkgourmet View Post
Quaker, I'm guessing that this is your first refi. Do yourself a big favor and avoid Zillow, lending tree,etc. Ask your ex Realtor for recommendations for mortgage brokers. Ask your trusted resources (friends, neighbors, co workers, business associates, CPA, etc). If one recommends a relative, ignore it (with rare exceptions). Get 2-3 referrals and contact them all. Stop looking at online referrals and reviews. You're not going out to dinner or getting a hotel room.

You need to find a broker you can trust who will hold your hand thru the process and not *********. How can you know from zillows paid advertisements and fake reviews? How can you know from lending tree who sells the leads to nearly anyone who will pay? And check your credit union.

As I said earlier in this thread, online lenders can be great IF YOU KNOW THE PROCESS. You don't this time around. Don't make an expensive mistake.
Hands up to Jkgourmet, good advice!!! Spoken like a true (experienced) professional!!!
  • Avoid Zillow, lending tree,etc.
  • Ask your trusted resources
  • If one recommends a relative, ignore it
  • Stop looking at online referrals and reviews.
  • IF YOU KNOW THE PROCESS.
  • Check your credit union.
Quaker15 your previous posts - is the house you are looking to purchase 18253 SMOKE HOUSE Ct GERMANTOWN, MD 20874 ? This property is on the Freddie Mac First Look Program. Foreclosure homes that are owned by Freddie Mac, strongly recommended title insurance. It is cheap insurance to protect you in the future from any liens from the previous owner.

As for a Good Phone Thing - 90% of my past clients nationwide never physically met, everything was through (good) phone, computer, fax, and email. As mentioned previously you should be creating a note book, just to keep all the information organized (your previous posts, asking a lot of questions). This will help when you are talking different loan officers, giving you knowledge if they are stringing you along. Also be cautious not to have your credit report ran too many times, more than three hard pulls in one week can lower your score quite a bit....



..
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Old 04-13-2015, 10:31 AM
 
2,409 posts, read 2,492,415 times
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Quote:
Originally Posted by Modification Specialist View Post
Also be cautious not to have your credit report ran too many times, more than three hard pulls in one week can lower your score quite a bit....



..
Mortgage inquiries are held off from affecting your FICO scores for a month.
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