The best mortgage refinance loans can take a monstrous mortgage payment and tame it into a manageable monthly amount. In an effort to snag the best locations on the Web for mortgage refinancing loans, Ditech's commercials came to mind. It was only natural that we add them to our list of lenders to review. There are a bunch of resources on this site and navigating it was a somewhat enjoyable experience. See what else we discovered below.
What's New?
- Sleep EZ Loan offers 30-year fixed interest with interest-only option.
- Free Ditech eAppraisals.
- Sign your loan documents electronically.
Star Reviews' Favorite Feature:
We really like Ditech's free eAppraisal service. Anyone interested in mortgage refinance loans knows that the value of your home can make or break the deal. Ditech ensures that you don't waste your time by helping you analyze the value of your home before you even apply. Simply fill out the form on the Ditech website and you'll receive information on how to access to Ditech's free eAppraisal service via email.
The Ditech Experience:
For some reason, the first thing that came to mind when we visited the Ditech website wasn't mortgage refinance – it was big blue bubbles. That's the feeling the website gives off. It's just big and blue and bubbly. Not what you'd expect from a mortgage refinance website.
That being said, navigating the Ditech website was very easy. Simply click on the "Refinance" bubble (or button, rather) located at the top of the page and you'll be brought to Ditech's page for home mortgage refinance. From there you can get information on Ditech's products and services, sign up for a free eAppraisal, use Ditech's loan calculators or apply for your mortgage refinance loan online.
You'll notice low rates quoted on the Ditech refinance page. Read the small print under it ad you'll see you must have a credit score of at least 721 to qualify for those rates. If your credit score is less than that, expect to pay more. You can find out exactly how much more by signing up for Ditech's free rate consultation.
Speaking of fine print, make sure you read all of it before actually applying for your Ditech mortgage refinance online. There are fees involved with getting a Ditech loan and don't sign any papers until you have read them all thoroughly. When we were researching Ditech we found that some customers experienced "surprise increases" when it was time to sign the dotted line.
Another thing to consider is Ditech's application. Applying for a loan on the Ditech website isn't exactly hard, but it is more time consuming than it should be. First you have to "register" with Ditech. Then you have to navigate through multiple pages to complete the application process. It's much less convenient than the one-page application process found on most of the other top mortgage refinance websites.
Ditech Features:
- Fixed-rate mortgage refinance loans
- EZ Loan interest-only options
- Free Ditech eAppraisals
- Loan calculators
- Free rate consultations
Ditech Customer Support:
We have to admit we are a bit jaded towards Ditech right now due to our customer service experience with them. The first time we called, the rep we spoke with couldn't answer our questions and never even offered to check on the answer for us. When we asked to speak with a manager, we were "magically" disconnected. We called back and explained we had been disconnected and that we'd like answers to a few questions. Instead of apologizing or cordially asking "how may I help you" the rep (a different rep from the first) acted as if they couldn't care less. They did, however, manage to answer our questions – finally. If you're a stickler for great customer service, Ditech probably isn't your best bet.
Upside:
Flat fees, free eAppraisals, free rate consultations.
Downside:
Customer service seems to need serious training on the definition of what "service" is.
Summary:
We think Ditech is a decent choice in mortgage refinance loans, as they offer a good amount of loan resources. We liked their free, eAppraisals service which helps users by analyzing their home's value before they apply for a loan. Signing up for a loan here is easy, but definitely time-consuming. May we recommend you read the fine lines and terms and conditions, as there are fees involved in any loan process. There are loan calculators here, as well as free rate consultations. The Sleep EZ Loan offers 30-year fixed interest with interest-only option. Customer support could improve, as the representatives we spoke with weren't friendly and we were even 'disconnected' at one point. Ditech does have alot of loan resource links on their webpage, though, should you want them. They're an 'ok' choice for your mortgage refinance needs.