Beware Lending Tree When Refinancing Your Home Loan

If you are considering mortgage refinancing online with the Lending Tree website, you need to read this discussion first. Filling out Lending Tree's contact form will result in overpaying as much as ,300 for your next mortgage loan. Here is what you need to know about computerized loan origination junk fees to avoid overpaying for your next mortgage loan.

To understand how companies like Lending Tree make their money, click on the licenses and disclosure link at the bottom of their web page. Scroll down a bit and you'll find a section entitled "GFE Addendum - Disclosure and Fee Acknowledgment." Lending Tree claims they do not charge you for their services, while this is only partially true, the fine print found on the licenses and disclosure page tells the whole story.

Home Refinance Rates

The Good Faith Estimate Addendum discloses the "Computerized Loan Origination Fee" you will pay when closing on your new mortgage. Your lender will charge you up to 00 for filling out Lending Trees form. This is the fee you pay for using Lending Tree to find a mortgage loan. While Lending Tree is not charging you this fee directly, had you gone to the mortgage lender's website directly you would not be out of pocket 00 at closing.

Lending Tree isn't the only big named website that charges this hidden fee. How can you avoid paying "Computerized Loan Origination" fees? Do your own research and go directly to lenders websites without using a third party portal like lending tree. Closing costs and origination fees are expensive enough without third party companies like Lending Tree bilking you out of your hard earned money.

You can learn more about mortgage refinancing without overpaying by registering for a free mortgage tutorial.

Beware Lending Tree When Refinancing Your Home Loan