Mortgage Program Finds Lowest Cost

Mortgage Grader may be the newest craze, though few people have used or even heard of it. The Web-based platform provides a service that will take much of the guessing away from the idea of getting a new mortgage. The system compares a mortgage lender’s rates and closing costs, then reports them to the consumer. The program takes into consideration only those issues that will affect a mortgage rate, such as credit score, debt ratio and income. The system shows a consumer each loan side by side for comparison, much like websites dedicated to finding the lowest airfare or hotel room.

The site has taken five years to finish, and may change the way the mortgage world works. Since people will be more informed of the true costs of a mortgage, they will have a better bargaining tool when obtaining a mortgage whether it is for purchasing or refinancing a home. The system only pulls a person’s credit once and assigns the application a PIN number, so all other information is unseen by the lender. The platform is currently up and running. \r\n