For years, consumers have been able to get accurate online quotes and detailed price comparisons for insurance, airfares and cars
Milwaukee, WI (PRWEB) April 5, 2007
FreeRateSearch.com announces the launch of the first website that allows consumers to anonymously search multiple mortgage loan programs and compare the best rates available for their specific loan requests. The new service searches thousands of lender programs every day, from perfect credit to non-prime credit, and displays the best rate available from most of the major lenders for various types of mortgages, including fixed and adjustable rate loans. Searches are free, unlimited and anonymous.
Using search technology previously only employed by a select group of mortgage professionals, FreeRateSearch.com allows consumers to find the best “par rates” -- the rates lenders charge brokers without hidden markups. These hidden markups, called “Yield Spread Premiums” or “YSPs” in the industry, have been criticized by consumer advocates and regulatory groups for adding anywhere from $300 to $3000 or more to mortgage loan costs.
“Using FreeRateSearch.com is like seeing the dealer invoice for your mortgage,” says Gerri Detweiler, credit expert and communications director for FreeRateSearch.com.
“Mortgage shopping websites have remained in the dark ages until now,” Detweiler says. “For years, consumers have been able to get accurate online quotes and detailed price comparisons for insurance, airfares and cars,” she explains, “but if you try to find out what mortgage rate you’ll qualify for, you have to fill out a detailed form, then wait to hear from one or more loan officers. That’s all changing, now that FreeRateSearch.com gives you the ability to instantly search and compare rates.”
“We don’t believe folks shopping for a new mortgage or a refi really want to talk to five lenders. They just want to find the best rates, and now they can do that quickly and anonymously, with no sales pressure,” notes Detweiler. She adds that, because the company is not a lender or broker, the results are unbiased.
FreeRateSearch.com, a service of Lender Rate Match LLC, is the first website that allows consumers to search for customized, unbiased mortgage rate information from multiple lenders, quickly and anonymously. Its mission is to help consumers save money by getting the best mortgage rate. The service is offered by mortgage banking executives and employs proven mortgage pricing technology currently used by select mortgage underwriters, loan originators, and mortgage banking firms.
Contact: Gerri Detweiler at 888-774-6280.
Note: FreeRateSearch.com and LenderRateMatch are trademarks of Lender Rate Match LLC.
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