First off, LendingTree is a lead generating company that sends your information out to competing lenders, they ARE NOT a lender themselves. The service is ok, as long as you are prepared for the aftermath. You will get many, many phone calls, all hours of the day and night and you WILL hear from some reputable loan officers but also some who will just tell you anything to get you into process. It would be up to you to figure out which is which.
Buying your first home can be stressful to begin with and LendingTree's aggressive, competitive environment may be too much for you.
If you have a realtor, speak with them and see if they have a mortgage professional that they recommend (they usually do), speak with your friends and family who own homes and see who they used. You should wind up with a few choices.
You may want to get qualified now, this will let you know exactly how much home you can afford right now and a responsible mortgage professional can also assess your credit report and instruct you on some steps to take to ensure your credit is exactly where it should be to get you the best deal. This will give you a good foundation to start building from and once you choose a home, your situation can be re-assessed and you can lock in at that time knowing you did everything possible to ensure the absolute best loan terms available to you.
Hope this helps!
· 1 decade ago