Frequently Asked Questions
After reviewing your personal information and credit report, a participating broker or lender will work with you to determine the best loan available to you. He will then request a list of document from you necessary for loan underwriting (approval). If the lender approves the loan, he will send you a packet of final loan documents for you to sign. After you sign and return the documents to the lender, he will disburse the loan proceeds.
RiteQuote is an online matching service that connects you with a network of participating financial services providers. After you fill out a short request form on our website, we send your request to participating brokers and lenders who in turn provide you with multiple loan quotes.
RiteQuote’s service is completely free to you. Like other businesses, we have to make money to continue offering our valuable services to you. Our participating brokers/lenders pay us a flat fee for the opportunity to contact you and offer their services to you.
No, there is no obligation to accept any of the offers.
No, RiteQuote is not a lender. We serve as a liaison between you and our network of participating financial services providers.
RiteQuote does not charge any closing costs. Each lender determines his/her own closing costs. You should discuss your particular situation once you get in contact with the lenders.
We use secure 128 bit SSL encryption to protect your sensitive personal information. We have incorporated many safeguards to protect the security, integrity, accuracy and privacy of the personal information that we collect.
A typical loan origination process takes 4 to 6 weeks from application to closing. That time depends on many factors, including your specific situation. For example, if you have first and second mortgage on your home and decide to refinance the first one, the new lender will need to obtain permission from the holder of your second mortgage before he can underwrite the loan which adds to the total processing time.
Since RiteQuote is not a lender, it does not quote rates. After you submit a request, up to four participating financial services providers will contact you and provide you with loan quotes. The rates are different for each lender and may fluctuate daily but like in shopping for any other good or service, the more you shop, the better deals you can get.
We take very seriously your privacy and the security of your personal data. Under no circumstances will RiteQuote sell or share any personal information about you to or with any person or organization other than our participating network of financial services providers.
