Mar
A customer looking for a home loan has a few choices. They are able to go to a regional bank or credit union. They could look online and submit a software with an agent, whom then puts the mortgage with one of several wholesale loan providers in their system. An alternative choice is to utilize solution such as for example LendingTree.
LendingTree is certainly not a home loan loan provider or broker. Instead, it’s a third-party solution that takes a debtor’s information and submits it to numerous bankers and agents within its vast community. These businesses, whom really do expand loans, then compete for the debtor’s company. LendingTree’s feature is the fact that competition drives down rates, therefore mortgage bankers and brokers provide reduced prices and charges once they understand these are generally in direct competition with a few other people.
key takeaways
LendingTree is just a third-party solution that requires a debtor’s information and submits it to numerous bankers and agents, who then contact the debtor.