Lending Tree: What The Company Can Do For You
Lending Tree connects you with a number of financial institutions that will give you their loan rates rather than offering you actual loans. After speaking with four or five financial institutions, you can select one company that you are happy with for your loan needs. Apart from mortgages, Lending Tree also offers information on home equity and personal loans as well as the ability to list your home for sale.
Taking The Services Of Lending Tree
Lending Tree makes getting all your needs taken care of easy. You can enter the website and fill out all your details and in a matter of one or two hours, Lending Tree will send you a selection of loan deals to review. When you visit the Lending Tree website, you will find a home ownership service area. The main aim of this service is to assist you in finding a loan that is tailor made for your needs. Lending Tree will also guide you when you are in the process of buying a new house. Whether you are purchasing your first house or are an experienced buyer, you will find all the details in the Lending Tree website.
Good Faith Estimate Addendum
According to Lending Tree, there is no fee for their services but this is only half true. The fine print in the disclosure and licenses tells the full story. When you fill out a contact with Lending Tree, you will have to pay an additional amount of $1,000 or more on your mortgage loan gotten through their services.
The Good Faith Estimate Addendum states that you need to pay the “Computerized Loan Origination Fee” when you are ready to close on your new mortgage. Your financial institution will charge you more than $1,000 for filling out the Lending Tree form. This is the money you pay for using Lending Tree to find a mortgage loan. Lending Tree is not asking for this fee directly but if you had visited the lender’s website on your own, you will have saved plenty of money at the time of closing by making direct contact.
There are lots of other big-name websites that charge this sort of fee. When you take the assistance of third party companies, the costs go higher. To avoid Computerized Loan Origination fees do research on your own and go directly to the website of the financial institutions.