Home Equity Quiz Review
Home Equity Quiz is an online service that finds custom quotes from its network of more than 200 lenders. Since it isn’t a direct lender, Home Equity Quiz doesn’t originate loans. Instead, it’s a useful tool for connecting with lenders that suit your needs.
In this review, we’ll outline how Home Equity Quiz works so you can decide if it could help you.
Pros and Cons of Home Equity Quiz
- Easy way find VA and FHA loans
- Get custom quotes in minutes
- Network includes 200+ direct lenders
- No minimum credit score requirement
- Not a direct lender
- Must complete questionnaire to get specifics
What Does Home Equity Quiz Offer?
If you’re looking to refinance your mortgage or take out a home equity loan, then Home Equity Quiz can be a handy resource. After a simple online questionnaire, Home Equity Quiz matches you with direct lenders that offer what you need. It’s important to note that Home Equity Quiz isn’t a direct lender or mortgage broker. Therefore it doesn’t issue loans or mortgages itself.
Because Home Equity Quiz is committed to only matching you with relevant lenders, every lender in its network is verified by SecureRights. As SecureRights explains it, your information is used to make sure that your information is only shared with lenders that provide the financial services you need. So, you won’t be spammed by calls or emails from irrelevant lenders.
What To Expect on the Site
In order to find suitable recommendations, Home Equity Quiz first needs to get to know your financial situation. So, you need to complete a brief online questionnaire to get custom quotes. Home Equity Quiz points out that this questionnaire isn’t a loan application in itself. The questionnaire is a screening application to find loan options. It should only take a few minutes to complete and asks a variety of questions, including:
- What’s your estimated credit score?
- What type of loan are you interested in?
- How much additional cash do you wish to borrow?
- How much is remaining on your first mortgage balance?
- What’s your contact information?
Soon after submitting your application, you can expect emails from providers within the Home Equity Quiz network offering loans that fit your needs.
There’s no cost to use Home Equity Quiz to find custom quotes and lenders. However, if you move forward with a loan, then the lender may have fees. And if you secure a loan, it’s difficult to give an exact price because what you pay, including your APR and monthly payments, ultimately depends on the specific lender you end up using, not Home Equity Quiz.
The Bottom Line
Home Equity Quiz acts as a springboard to quickly and easily connect you with loans suited to your needs. It’s free to use and only takes a few minutes to complete its questionnaire. And since there’s no obligation to proceed with any offer it finds, there’s no commitment involved with using the site.
So, all things considered, Home Equity Quiz is a handy tool that warrants a spot in your search of top home equity lenders.