Rates - Why is it so different? (loans, credit, loan)

[TOM.TOM]

I'm getting 6% with 1 discount point from one of the local lenders.
But I'm getting an average of 6.35 from eLoan & Lending tree for the same 1 discount point. I thought eLoan/Lendingtree ect give better rates...may be I'm wrong.
Question : Do you think eLoan/Lendingtree will beat the credit union rate, if I show them the proof? Thanks for your response.

[Bette]

Originally Posted by TOM.TOM

I'm getting 6% with 1 discount point from one of the local lenders.
But I'm getting an average of 6.35 from eLoan & Lending tree for the same 1 discount point. I thought eLoan/Lendingtree ect give better rates...may be I'm wrong.
Question : Do you think eLoan/Lendingtree will beat the credit union rate, if I show them the proof? Thanks for your response.

No. Stay with your local lender, definitely.

Rates have shot up but why switch to someone you do not know?

[renriq02]

i have worked for LendingTree before, and their rates was always higher than everyone else.

Every lender is different, and some specialize in 30yr fixed loans while others specialize in ARMs or Jumbos.

Originally Posted by TOM.TOM

I'm getting 6% with 1 discount point from one of the local lenders.
But I'm getting an average of 6.35 from eLoan & Lending tree for the same 1 discount point. I thought eLoan/Lendingtree ect give better rates...may be I'm wrong.
Question : Do you think eLoan/Lendingtree will beat the credit union rate, if I show them the proof? Thanks for your response.

[chuck-a-muck]

Different rates from different lenders is called competition. Same rates from all lenders is called collusion and price fixing, and only the Fed can do that!