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2009-12-16 17:41:39
Getting a Mortgage, use a local Lender!

BEWARE of LENDINGTREE and other Web lenders.

When you're out on the net shopping for a loan you're sure to run into LendingTree and a host of other Mortgage Lead Generators. They claim 'When Banks Compete, You Win'. What they don't tell you is that they are simply a lead generator for companies who pay them for your information.

When you apply for a loan, anywhere, the rate you're quoted is simply a best guess. No one can tell you exactly what your rate and loan costs will be until your credit is run, income is verified and your purchase contract has been reviewed. Then comes the appraisal and underwriting where things can change drastically.

Within our Real Estate practice our clients who use LendingTree or other lead generators have experienced higher interest rates, higher closing costs and more loan denials regardless of what they are told up front when 'Banks Compete' for your business.

The best advice we can give you regarding your next mortgage is to stay local. Work with a local Mortgage Broker, Bank or Credit Union. You want to be able to sit in front of the person responsible for your loan when things don't go as planned.

 
Blog Archive
2019-01-28 09:56:07
The Gamble of Overpricing Your'e Home

2017-10-30 10:07:23
Salt Lake County single-family home median price reaches $330,000

2017-08-28 13:53:53
Most Salt Lake County Homes Sell for Under $350,000

2017-08-07 15:45:17
Median Single Family Home Prices Reach $327,000 in Salt Lake County

2017-02-07 13:11:41
Is There a Housing Bubble?

2017-02-07 13:03:48
Predictions for 2017: Total Residential Home Sales

2017-01-31 09:34:22
Q 4 Housing Report

2016-02-11 10:24:38
2016 Forecast for Salt Lake area Housing Market

2016-01-25 18:11:50
Local Home Sales Data 4th Quarter 2015

2015-04-27 11:40:31
Mistakes people make when selling a home

2015-04-27 11:36:59
Save for down payment or buy a home now?

2015-04-27 11:31:13
Salt Lake Home Sales Climbed 16% in the First Quar

2015-02-06 12:20:37
Salt Lake County housing market positive for 2015

2015-01-15 15:10:58
FHA Mortgage Insurance Premiums Reduced by 0.50%

2014-02-05 15:27:36
Salt Lake Housing Prices Returning near 2007 Highs

2014-01-27 16:51:39
Salt Lake home sales in 2013 are highest on record

2013-10-31 09:38:09
Condo sales at a 7 year-high

2013-10-30 10:45:15
Median single-family home prices reach 255k

2013-02-12 17:09:58
Salt Lake County 2013 Housing Forecast

2013-01-23 13:57:04
'Fiscal Cliff' Real Estate Provisions

2013-01-02 09:23:42
Cliff Bill Retains Mortgage Debt Relief

2012-12-10 11:26:33
Home Buyers need to be ready to compete!

2012-10-23 15:25:42
Median Single Family Home Prices Increase 7.5%

2012-07-23 10:31:38
'Medicare tax on Real Estate' update: 3.8 percent

2012-05-09 16:01:14
National Report says SLC is among top 10 places to

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