LendingTree's New Mortgage Negotiator Tool Helps Borrowers Find the Best Deal
Innovative tool compares and evaluates borrowers' current loan offers with real-time mortgage offers from LendingTree Lender Network
The easy-to-use online tool allows users to submit data found in the Good Faith Estimate (GFE) of a current loan offer. The tool then analyzes the interest rate, origination fees and monthly payments to identify possible areas for improvement. Using interactive charts, consumers can see where and how their current offer might be improved, and can see negotiating tips for getting a better deal. Additionally, the Mortgage Negotiator displays several real-time offers from lenders that may be able to provide a better deal, complete with contact details and customer ratings and reviews.
"Our research indicates that only 51% of consumers compare shop mortgages. But whoever does that, can end up saving $100 or more per month on their mortgage payment," said Nikul Patel, Chief Product Officer at LendingTree. "To make it easy for consumers to comparison shop for mortgages with the offer (GFE) they have in hand, we developed mortgage negotiator. We feel that this tool has the ability to empower consumers and give borrowers confidence while going through loan process."
The Mortgage Negotiator tool from LendingTree can be accessed via www.LendingTree.com or through this link: https://www.lendingtree.com/mortgage-negotiator
About LendingTree, LLC
LendingTree, LLC is the nation's leading online source for competitive home loan offers, empowering consumers during the mortgage, refinance or auto loan process. LendingTree provides an online marketplace which connects consumers with multiple lenders that compete for their business, as well as an array of online tools and information to help consumers find the best loan. Since inception, LendingTree has facilitated more than 30 million loan requests and $214 billion in closed loan transactions. LendingTree provides access to lenders offering mortgages and refinance loans, home equity loans/lines of credit, and more. LendingTree, LLC is a subsidiary of Tree.com, Inc. (NASDAQ: TREE). For more information go to www.lendingtree.com, dial 800-555-TREE, join our Facebook page and/or follow us on Twitter @LendingTree.