online refinancing

Discussion in 'Credit Talk' started by hurleee, Nov 29, 2002.

  1. hurleee

    hurleee Well-Known Member

    Can anyone reccomend a bank , etc online? our van was purchased at 18% int. And we want to refi. First of all, are online banks more forgiving of past credit problems, or would be better off going with a local bank?
    My husbands reports include a 180 late student loan form 1996, and 2 paid collections from 1997 or so. what do you think? Could we even refinance? His Fico score last time I checked was 678. But experian and transunuion were much lower, like 620-630. what do you think? is eloan good? what about lending tree? thanks for any input. jody
     
  2. fla-tan

    fla-tan Well-Known Member

    Jody

    If the only negatives on DH's credit is old, then he should be able to do a refi to a much lower rate without to much trouble. I don't know if online banks are more forgiving or not, but if you have a relationship with your bank you may want to try them.


    fla-tan
     
  3. dittomom2

    dittomom2 Member

    I would try to locate a local mortgage broker, someone who will look at many lenders to see which one will work best for your credit situation.

    You might end with a loan from a local bank, but by using a broker you don't have to to do the shopping around, and you have a local contact.

    You might ask neighbors and friends who they used. You could even call a local realtor to ask for a recommendation.

    PS would not recommend wells fargo, horrible refi experience.
     
  4. fla-tan

    fla-tan Well-Known Member

    dittomom

    mortgage brokers don't deal with refinancing vehicles. At least I have only refinanced houses and condos. I havenever seen a mortgage broker refiance a vehicle.


    fla-tan
     
  5. dittomom2

    dittomom2 Member

    Oop. didn't read carefully, thought they were refi-ing a house to pay off car. Sorry.
     

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