Prices change with varying borrower, property and transaction characteristics which lenders believe affect their risks and costs. These include loan size, credit rating, type of property (including farm loan, small business loan and more), your ability to document income and assets, etc.

Unless informed to the contrary, lenders quoting prices assume a set of standard specifications that generates the lowest price. If the specs on your loan differ at all, the price will be higher.

For example, lenders assume you are purchasing a single-family home as your permanent residence. However, if in fact you are buying a condo, or the house is intended as a second home, expect to pay more.

For example, lenders assume that your income has been stable for the past 24 months. If in fact you became self employed in the past 12 months you may not be qualified for the best rate regardless of your present income.

For example, lenders assume that your refinance loan or mortgage request does not include a certain amount of cash-out. If you get a quote for a 5% rate it may change to 5.5% once the lender finds out that you need $100,000 cash over and above the existing loan.

Complete the LendingUniverse loan application online, whether you are a looking for a small business loan or some other kind of loan. Your data will be instantly transferred to only those lenders who match the exact scenario of your application. Next, you will receive loan bids based on your particular situation. Compare the bids and select the one that is truly the best for you.

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It is not uncommon for borrowers to shop the loan they think they want, then change their mind later in the process. For example:

• You start out thinking you want a fixed-rate loan, then switch to an adjustable.
• You start out thinking you want a 30-year term, then switch to a 15-year term.
• You start out thinking you want a zero-point loan, then switch to 3 points.

Such switches may invalidate your shopping because the loan provider with the best price in one loan category may not have the best price in another.

Only LendingUniverse's patent pending software will let you do what nobody else can:

1. Have the same application viewed simultaneously by many qualified lenders.
2. You are welcome to change your mind as you wish and request separate bids for various loan programs simultaneously or subsequently.
3. After receiving multiple bids you can use the LendingUniverse advanced comparison tools to compare "apples with apples."
4. This is the only way to find the truly best loan for each and every one of the programs you're interested in.

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If you cast a wide enough net you are bound to find a rogue who will beat all the other prices, but has neither the capacity nor the intention of delivering such prices. His objective is to rope you in and move the process along until it is too late for you to back out. At that point, he raises the price using any of a dozen tricks available for that purpose. Be on the alert.

Remember: Because the market is constantly changing, you can't hold a broker or lender to a price quote until you lock the prices. A lock is the lender's agreement guaranteeing the prices.

Only LendingUniverse's patent pending software will let you do what nobody else can:

1. Have the same application viewed simultaneously by many qualified lenders.
2. After you negotiate and receive multiple bids use the LendingUniverse advanced comparison tools to compare the bids side by side. You compare not only the interest rate but the total closing costs and other factors for a complete picture of the package.
3. Once you decide on one or more attractive offers, you can get a loan approval in writing sent directly to your control center at LendingUniverse.com.
4. Select the best proposal and request a lock in writing. Most likely you will get it. If you don't get the lock that matches the approval in writing, then simply move on to the second best loan offer without wasting a moment.

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Because of market volatility, prices obtained on different days will not be comparable. Unless you shop all sources on the same day, you are wasting your time.

1. Have the same application viewed simultaneously by many qualified lenders.
2. After you negotiate and receive multiple bids use the LendingUniverse advanced comparison tools to compare the bids side by side. You compare not only the interest rate but the total closing costs and other factors.
3. Once you decide on one or more attractive offers, you will get a loan approval in writing sent directly to your control center at LendingUniverse.com.
4. Select the best proposal and request a lock in writing. Most likely you will get it. If you don't get the lock that matches the approval in writing, then simply move on to the second best loan offer without wasting a moment.

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Most companies have you fill out a very short application online and then they sell it as a "lead" to the brokers who pay the most. You are then contacted by 1 to 4 loan officers via email. Since the initial information you provided on other websites is inadequate for real quotes, you will end up spending a lot of time with each one of the loan officers explaining away your particular situation and then waiting to manually fill in separate loan applications to each one of the brokers. The brokers will demand documentation and if there is more than one broker in the running you will end up making copies and faxing or mailing loads of documents separately to each broker. In most cases the website where you first filled out the short application is either gone or will not give you any further help.

The brokers who contact you afterwards will promise to beat all the other prices, but have neither the capacity nor the intention of delivering such prices. Since the other companies do not provide the means to compare quotes, you are at the mercy of brokers whose objective is to rope you in and move the process along until it is too late for you to back out. At that point, they raise the price using any of a dozen tricks available for that purpose.

Experience the LendingUniverse difference.

• LendingUniverse software will ensure that your application contains all the data for a factual, real quote and will eliminate lengthy sales pitches by brokers.
• You have the option to even upload all the supporting documents that the lenders request, thus eliminating any misunderstanding and saving hours of copying, mailing and faxing.
• You have the option to complete a full standard 1003 application online, tailor-made for each one of the lenders. This way you do not need to wait for the lender's mail and then manually hand-write the application.
• With applications signed and all relevant information fully disclosed you are now in a position to get true loan approvals with accurate quotes.
• In addition, there are all the other member benefits that you can't find anywhere else.
• Most importantly, we care! We work for you and for the lender. We continually conduct surveys and listen to borrowers' requests for the purpose of improving our service delivery with the end goal of you having the loan you deserve and being nothing short of 100% satisfied.

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Too many borrowers with decent credit get stuck with loans meant for people with poor credit. So-called "subprime" loans are often more profitable to a broker. That’s why less ethical mortgage brokers may push sub prime mortgages and loans. If the borrower doesn't know what the prevailing interest rates are for someone with their good credit standing, they can easily pay thousands of dollars more than they need to pay.

Even people with a few dings on their credit can often qualify for better loans than they're typically offered if they just shop around for sub prime loans.

1. Have the same application viewed simultaneously by many qualified lenders.
2. After you negotiate and receive multiple bids use the LendingUniverse advanced comparison tools to compare the bids side by side. You compare not only the interest rate but the total closing costs and other factors.
3. Once you decide on one or more attractive offers, you will get a loan approval in writing sent directly to your control center at LendingUniverse.com.
4. Select the best proposal and request a lock in writing. Most likely you will get it. If you don't get the lock that matches the approval in writing, then simply move on to the second best loan offer without wasting a moment.

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Not having financial records that verify income and assets and not fixing your credit prior to applying for a loan but keepiing your fingers crossed, hoping your credit will allow you to qualify for a loan, are among the worst mistakes one can make. Your credit score can make a major difference in loan quality. Not having documentation ready can mean higher rates and often even a declined loan. This applies to any co-borrower as well as the primary borrower, as often the co-borrower's financial information is just as important as the borrower's.

LendingUniverse's optimization software will guide you on how to prepare yourself and how to present your application in the most efficient way for best results. Credit scores are a major factor in lenders' decisions. LendingUniverse recognizes the importance of credit scores and devotes a special clinic on this for our members with links to obtain the scores and a variety of tips on how to raise your credit score fast.

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