"The recent rise in rates is making lenders more competitive for your business," said Ed Powell, chief consumer officer of LendingTree.com. "They’re looking for ways to hold onto customers, and to keep new business coming through the door. This is good news for borrowers and it’s fairly common for lenders to offer airline miles, hotel points, or gift cards at home furnishing or improvement stores to gain business."
Of course, big incentives shouldn’t be the main consideration when getting a loan. When choosing a lender, consumers should review a few qualified offers from a number of trusted lenders and make sure to do an apples-to-apples comparison on rates, fees, terms, and APR before they average in incentives. Web sites like BankofAmerica.com, CitiMortgage.com, LendingTree.com, and HomeLoanCenter.com are a great place to get started.
Lenders aren’t the only service providers that are offering freebies; real estate professionals are also handing out hefty incentives for consumers who are buying or selling homes. For instance, consumers who use RealEstate.com can get a HomeDepot® gift card for completing a transaction through its Real Estate Network.
"It never hurts, especially when you’re in the market for a new home, to ask your lender, builder, or real estate agent up front what incentives they might offer," added Powell. "Many of them will advertise the programs they have available, and most likely, will have a varied list of trusted partners with enticing incentives that will appeal to just about anyone."
EDITORS NOTE: For a detailed list of incentives available through LendingTree.com, including partners and incentive amounts, please visit our Partnership Program page .
About LendingTree, Inc.
Founded in 1996, LendingTree is an online exchange that connects consumers with Lenders and REALTORS®. LendingTree has facilitated nearly $87.7 billion in closed loan and real estate transactions since its inception, serving more than 13.5 million consumers. Loans available via the LendingTree exchange include home mortgage and refinance, home equity, automobile, personal, debt consolidation, and credit cards.
REALTOR® -- A registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics.
The Home Depot® is a registered trademark of Homer TLC, Inc. RealEstate.com is not sponsored by or affiliated with the parent franchisor companies of any of the participating members of its network.