Yahoo! Answers*

Question:

Is LendingTree legit?

Anyone ever had any experience with them? I'm a first time home buyer. http://www.loan2mortgage.net/

Answers:

1) As a first time buyer go to your local lenders who can walk you through this process with someone who will be available to you. Others will disagree but when something goes wrong with an internet deal you are at the mercy of the email or phone systems. If on the other hand you work with a local concern, who by the way can give you just as good a deal as the internet entities, you can walk in and demand someone speack with you. Good luck enjoy your home buying experience.

2) Lending Tree is definitely legit. All it is though is a website that hooks you up with lenders. You input all the information and will then get up to 4 offers from various banks. I tried it when I was buying my first home also. I didn't end up using any of the lenders that they suggested because I got a better deal at my current bank. I would definitely give it a try if I were you. It never hurts to have banks fighting over you for the loan!

3) lending tree is legit however, they have no morals when charging a person higher interest rate and waiting to the last minute to tell you you will have to pay more points or higher rate because of your credit or the Small down payment you are putting down etc... in order to get them more money it is better to find a lender that you can talk face to face with and if you have a problem at closing they are sitting across the table from you with answers. shop around you can do better we have had more deals blow up or buyers crying the day before closing because of these people and others like them.

4) Lending tree is legit. They will do what they say. I have tried to use them on three occasions. In every case, I found a rate elsewhere that was better than any of the contacts they provided. -->Adam

5) Yes LendingTree is legit. What LendingTree does is take your information and submit it to 5 different lenders who will contact you shortly to go over financing options. I wouldn't necessarily worry about your credit as long as the pulls are within 15 days of each other it will only count as one point. My advice to you is to shop around. Fill out the form and wait for the quotes to weigh out your options. Do not let anyone try to persuade into getting into a loan you are not comfortable with.

6) Yes it is, if you still have doubts, look them up on the BBB website.

7) I'm a Licensed Mortgage Broker and my company had a contract with LendingTree for 2 years. It is great that you have 4 lenders fighting over you. However, if the lenders want to compete, they will offer low ball offers that really don't exist. That is why I had many clients come to me after the others dropped the bomb at the end. LendingTree is great, but the investors are a bunch of LIARS!

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