Bankrate Mortgage Refinance Review
ConsumersAdvocate.org Rating: 8.6 / 10 (Excellent)
Bankrate is an independent publisher and comparison platform that offers expert advice and tools for helping consumers with their finances. The company provides editorial content, tools for multiple categories, and the latest rate information. Bankrate.com collects rates from more than 4,800 institutions on over 300 financial products. It generates rates for all 50 states and offers services from more than 100 cobranded websites.
Types of Home Refinancing Mortgages
- Fixed Rate Mortgages
- Adjustable Rate Mortgages
- Interest Only
Qualifying for Refinance Mortgage
Each company has its own set of loan qualification. Most companies require bank statements, asset documentation, income statements, and other additional documentation like homeowners insurance. Bankrate provides rates collected from the different financial institutions allowing consumers to quickly compare rates and terms that best matches their needs. Loan qualifications ultimately depend on the chosen lender.
How Does it Work?
Bankrate provides mortgage refinance rates from multiple financial institutions. Consumers can get access to this by simply entering their zip code. A list of rates from different lenders is then displayed which includes the current and the previous week’s rates. Consumers can also use various financial tools available on its website including calculators for mortgage, auto loan, simple savings, and amortization.
Bankrate does not charge consumers for the information it provides. Loan fees displayed such as closing, service, and application vary according to lender.
Why Mortgage Refinance at Bankrate
Bankrate is a great place to start your search for mortgage refinancing. It offers a vast, unbiased source of information on mortgage refinance rates. It also helps consumers make better decisions by providing tools and sound financial advice from experts.