June 19, 2012
/PRNewswire/ -- LendingTree, LLC, the nation's leading online source for competitive loan offers, has provided a list of the top five questions borrowers should ask their lenders when considering a mortgage. LendingTree surveyed its network of over 300 lenders in order to gain insight and advice from home loan professionals.
In honor of National Homeownership Month, LendingTree has reaffirmed its commitment to aid borrowers in the mortgage process by empowering consumers through valuable information, expert knowledge and advice. LendingTree asked over 300 lenders on the LendingTree Network, "In your professional opinion, what is the best questions all borrowers should ask their potential lender?". LendingTree has provided the top five answers:
Top Five Questions to Ask Your Lenders
- What are the total costs involved with the loan?
- What is the best program for me, based on my financial goals and situation?
- What documents will be required ahead of time to avoid delays?
- What are the service ratings for your company, and where can I find them?
- How long have you (the loan officer and the company) been in the mortgage business?
"Consumers have very little confidence that they will be able to qualify for a mortgage, let alone find a great deal when it comes to a home loan," said Doug Lebda,Chairman and CEO of LendingTree. "But with rates as low as they are, borrowers have the opportunity to tap into substantial savings. If you have the right information, know what to do and what to avoid, there's no need to be intimidated or shy away from the process."
LendingTree strives to simplify the mortgage process and instill confidence by offering accurate information, lender ratings and reviews and the opportunity to compare multiple offers.