Lenders on Bankrate.com

User Forum Topic
Submitted by Mooki on April 14, 2011 - 11:12am

So I got quotes of 5.125% and 5.25% from two different lenders recommended by my realtor. I did a search on Bankrate.com with the exact same criteria (0-pt, 740+ credit score, 20% down, 30-ye fixed, specific zip code) and got 10 lenders with lower rates (4.75%) and lower fees (below $1000). Should I even spend time on calling these lenders? Do they actually offer what they advertise? How could they be almost 1/2% less than the other guys? Are their rates and fees showing up on bankrate.com legit? What's the catch?

Submitted by mp7444 on April 14, 2011 - 11:33am.

How much are you borrowing?

Submitted by outtamojo on April 14, 2011 - 11:43am.

Hi,I went with lender recomended by realtor, fired him after 2 weeks 'cause he was too slow and squirrely and went with AIM loans. AIM gave conditional approval in 3 business days and then I spent the next 2 days removing contingencies - I got a lower rate AND better service. And no, I do not work for AIM loans : ) This was about 2 months ago, on the central coast tho instead of S.D.

Submitted by Mooki on April 14, 2011 - 12:28pm.

Loan amount low $600K in Carlsbad. Single family detached built in the early 2000.

Submitted by ljinvestor on April 14, 2011 - 2:21pm.

I second aimloan. They are really quick at underwriting and can give you loan commitment letter (stronger than pre-approval) with just a few conditions. Rates & closing costs are also very reasonable.

Some people have luck with the big banks or brokers, but I prefer credit unions or caompany like aimloan. Actually had brokers tell me they couldn't beat what was offered during my last few transactions

Submitted by sunny88 on April 14, 2011 - 2:28pm.

I have refied a few times and every time I tried one of those online companies they either couldn't deliver what was advertised or the service was very poor and time consuming. I always ended up doing business with one the big banks in town (BofA or Wells Fargo) where I had a loan officer personally working on my refi. I may have paid a little more but the process was done more efficiently. In general, if it looks too good to be true it usually is.

Submitted by fun4vnay2 on April 15, 2011 - 12:03am.

Gone are the days when B&M lenders/brokers are better than internet ones.
With the advancement in technology, I think internet lenders are catching up as evident from this thread.

Submitted by claudiajoy on January 21, 2012 - 6:07am.


I have the same questions about Bankrate myself I guess. We are trying to do a refi VA and all the lenders in GA where we live want comps of sales plus they want to to an appraisal, but nothing has sold here in months and nothing of what our house is worth or was worth. Are the lenders on Bankrate legit? It makes me wonder because their rates are always better than the ones here

Submitted by claudiajoy on January 21, 2012 - 6:09am.


Tell me your experience with Aimloan? I see them on bankrate all the time. I wondered if they were trustworthy. YOu seem to have good things to say about them

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