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A new study conducted by LendingTree shows just how much people gain when they shop lenders. In the study, which included anonymized data from more than twenty thousand borrowers, LendingTree, one of the nation's largest and most respected mortgage comparison-shopping websites, found that borrowers who compared at least three different mortgage offers could save $16,000 over the life of the loan due to the difference in interest rates being offered. Smart shoppers who compared five different mortgage offers could save a whopping $24,000 on an average-size loan solely because of the difference in interest rates. That's serious money.
So How Do You Easily Compare Lenders?
Simple. LendingTree's mortgage comparison shopping service makes it easy. The free service connects you with up to five competing banks, and you can use it to pit each bank against the others. This way you can walk away from the process secure in the knowledge that you're one of the smart shoppers, and got the absolute best loan you could get.