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[Loans] Bankrate.com or LendingTree.com

Discussion in 'BBS Hangout' started by Yonkers, Oct 16, 2006.

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  1. Yonkers

    Yonkers Member

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    Does anyone have any experience with these sites? I'm going through a broker right now and they are quoting me 6.375% for a jumbo 30-year loan. But when I check Bankrate it shows only 5.875%. And even lower if I pay points.
    But my broker says some of these sites only quote those rates to bring in traffic. I'm not sure if that is just FUD.
    Any advice?
     
  2. Dr of Dunk

    Dr of Dunk Clutch Crew

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    Why not call those sites up and ask them?

    I only use bankrate.com to keep track of CD/Savings rates, to be honest, so I don't know how accurate this stuff is.
     
  3. Yonkers

    Yonkers Member

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    Yeah, I'm trying out LendingTree now. I just got 4 quotes that have closing rates that range from $800 to a few thousand. Gonna have fun comparing these :(
     
  4. Pocket Rockets

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    did you have to supply your social security number on the website before they quoted you with those 4 quotes?

    That would mean 4 different lenders possibly could have ran your credit and that can't be good
     
  5. Yonkers

    Yonkers Member

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    Yes, I did provide my SS#. In terms of credit check, all credit checks for mortgage loans within a span of 14 days are considered a single check. If it was for personal loan or credit card, they would be a separate instance each time.
     
  6. Pocket Rockets

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    not necessarily, you can have roughly 3 pulls on your credit over a 30 day span without dropping your score...anything over that will usually reflect a 3 point drop...
    then when you actually decide on a lender, they usually will have you type up a letter of explanation as to why you has so many credit pulls within a 90 day period...
     
  7. Yonkers

    Yonkers Member

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    I'm just going by what they have on their FAQ.
    http://www.lendingtree.com/stm3/education/faqs.asp#quest11

     

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