How to always get the lowest interest rates online

venom11 · 10-19-2005, 02:00 AM

Hey, I've been involved with home loans and refinancing for several years now: As I use to work for a large mortgage
firm and as a landlord of over 11 properties, and I've tried nearly all the major online loan companies like eloan, etc
to compare rates (especially to refinance my income properties). And guess what, most of them are scams: they don't offer
the loans, nor even broker the loan direct to a bank, like most mortgage companies do. They broker the loans through another broker,
who sometimes sells the lead to yet another company. How does that affect you?

Imagine how much of a percentage cut each one of these companies is taking off the loan - talk about middlemen! By the
time the loan rate actually gets back to you, you could have cut off a few points and saved yourself thousands - or years
off the life of your loan! Be sure to check for reviews of reputable companies online and their interest rates from third
party sources. Thats the best way to insure you're really getting the best rate available, and it's personally saved me
tens of thousands of dollars once I found about about all this.

Also, you'll want to improve your knowledge of reputable online loan companies and the little known techniques that can
save you - or make you - a lot of money in the way you structure your loans, try reading free articles like the ones at:
http://kickme.to/loan-advisor/ or other similar sites. Good Luck and low rates!

darryl · 05-26-2009, 07:09 AM

Your credit score gives the lender an idea of your ability to pay back debt by looking at your history. Everyone has three credit scores from which the lender will use the middle score, whichever that is, late payments on a mortgage guarantee higher rates because you have already demonstrated an inability to pay back mortgage debt,(never miss a mortgage payment). Assuming you have no mortgage lates, the higher the credit score, the better the interest rate.So,I totally agree with you..Thanks for sharing that..You have done an great job.. Such an informative and well formed post,it was wonderful of you.
Good luck!

Kimberlee Evonne · 09-11-2009, 12:48 PM

Whose advertisements are you referring to? What you quote is typical of online or 800 number outfits that don't hesitate to advertise better rates than they have ever made a loan for.
You are always (in my experience) better off to deal with a local lender who you can meet with face to face. Don't feel bad about only being able to get 5.5%. That is a wonderful rate. If you are dealing with one of the faceless types I referred to earlier, you might still just get a surprise when you actually get near time to close on your home.

10-19-2005, 02:00 AM	#1
venom11 Junior Member Join Date: Oct 2005 Posts: 6	How to always get the lowest interest rates online Hey, I've been involved with home loans and refinancing for several years now: As I use to work for a large mortgage firm and as a landlord of over 11 properties, and I've tried nearly all the major online loan companies like eloan, etc to compare rates (especially to refinance my income properties). And guess what, most of them are scams: they don't offer the loans, nor even broker the loan direct to a bank, like most mortgage companies do. They broker the loans through another broker, who sometimes sells the lead to yet another company. How does that affect you? Imagine how much of a percentage cut each one of these companies is taking off the loan - talk about middlemen! By the time the loan rate actually gets back to you, you could have cut off a few points and saved yourself thousands - or years off the life of your loan! Be sure to check for reviews of reputable companies online and their interest rates from third party sources. Thats the best way to insure you're really getting the best rate available, and it's personally saved me tens of thousands of dollars once I found about about all this. Also, you'll want to improve your knowledge of reputable online loan companies and the little known techniques that can save you - or make you - a lot of money in the way you structure your loans, try reading free articles like the ones at: http://kickme.to/loan-advisor/ or other similar sites. Good Luck and low rates!

05-26-2009, 07:09 AM	#2
darryl Member Join Date: Apr 2009 Posts: 43	Your credit score gives the lender an idea of your ability to pay back debt by looking at your history. Everyone has three credit scores from which the lender will use the middle score, whichever that is, late payments on a mortgage guarantee higher rates because you have already demonstrated an inability to pay back mortgage debt,(never miss a mortgage payment). Assuming you have no mortgage lates, the higher the credit score, the better the interest rate.So,I totally agree with you..Thanks for sharing that..You have done an great job.. Such an informative and well formed post,it was wonderful of you. Good luck!

09-11-2009, 12:48 PM	#3
Kimberlee Evonne Member Join Date: May 2009 Posts: 43	Whose advertisements are you referring to? What you quote is typical of online or 800 number outfits that don't hesitate to advertise better rates than they have ever made a loan for. You are always (in my experience) better off to deal with a local lender who you can meet with face to face. Don't feel bad about only being able to get 5.5%. That is a wonderful rate. If you are dealing with one of the faceless types I referred to earlier, you might still just get a surprise when you actually get near time to close on your home.


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