Seems like a great process versus Lending Tree since the banks can't call you, you select and call them. Anyone have any experience with them? We just got an offer on our house in Dallas, and are getting ready to launch into the buying process.
Have not dealt with Zillow but have dealt with Ditech and others. In the interest of full disclosure, I am a mortgage broker. I have many clients who shopped thru these services and ended up having either bad experiences or incomplete experiences. There is very little accountability or service. I am sure there are good guys that use these services but they seem to be few and far between. They are doing nothing but quoting a rate. They do not explain why the rate could change and often give the impression a rate is locked or "set" even though it is not. I follow mortgage backed securities being traded and can tell my clients how the markets are moving and how those markets can effect rates. In this market (extremely volatile) I would want to work with someone who I knew was going to devote time to my home purchase and be able to pay attention to and understand the markets to ensure I got the best deal. If you have any specific I would be happy to answer them or help in any way I can. I have helped many both on Hornfan's and Orangeblood's. email me at robert@bartoncreeklending.com good luck with everything
like niner talked about, wouldn't you rather go sit down with someone and work things out? from my experience, going thru these other companies, you do all the work. they won't look anymore into things than you give them. at the very least, get a broker referral from your agent for a comparison. if you don't have one, you know one.
if any place quotes you a rate without taking a full application and getting your credit report, its likely a ******** rate. this is lending tree at least and likely others. use them if you like, but don't choose based on those initial rates as they will likely change and possibly change drastically once they get a look at your credit, debts, and income. with a purchase this significant, i think its better to sit down and take the time to work with someone who can give you several different options based on your individual desires instead of quoting the lowest rate to get your attention and then hope you don't walk away.
