Just Approved: Homeowner saves thousands by shopping online
Ty Cabalsi’s borrower shopped for their refinance mortgage on the Internet and compared lenders, rates and fees.
With the emergence of online mortgage lenders, significant savings are available to homeowners through efficient automation and an extremely competitive marketplace.
The competition drives down the price of commodity goods, especially nontangible services with infinite supply.
Cabalsi’s Internet company can only partner with investors who have emphatically committed to this model.
Mortgage websites such as Zillow, Lending Tree and Bankrate request that Cabalsi’s company advertise interest rates on their pages to stimulate competition on their marketing platforms.
The borrower begins by requesting a quote, and once they compare several competing offers, Cabalsi instructs them to lock the rate.
The customer receives access to a licensed loan officer during business hours so borrowers aren’t on their own.