Home Loan Analyst Review
If you’re thinking about purchasing a home, Home Loan Analyst is a helpful online marketplace for mortgage loans. Instead of providing loans itself, Home Loan Analyst connects you to its vast network of mortgage partners. This network includes lenders that offer a variety of loans, including fixed-rate, adjustable-rate, FHA, and VA loans.
Home Loan Analyst makes it fast and easy for homebuyers to find offers from multiple lenders. As stated on its website, Home Loan Analyst’s mission is “to make it easy to get a great loan so you can get on with your life.”
The company was founded by a team of financial services professionals in Durango, Colorado and has been used by more than 575,000 customers to shop for better rates. By matching you to personalized offers after a brief online assessment, it’s a quick way to see your options and find the right mortgage loan for your needs.
Let’s take a closer look at Home Loan Analyst to see how it can help you buy a home.
Pros and Cons of Home Loan Analyst
- Free to use
- Fast and easy process
- Instant results with no obligation to proceed
- Personalized loan offers
- Easy to compare multiple options
- Little information for those who don’t complete the questionnaire
- Not a direct lender, so Home Loan Analyst only connects you with partners
What Does Home Loan Analyst Offer?
Home Loan Analyst isn’t a lender or mortgage broker itself, but you do need to complete a short online questionnaire to see your personalized lending offers. On the Home Loan Analyst homepage, either click on the “Refinance” button or the “Buy a home” button. You’ll then be asked a series of questions that only take a few minutes to complete. These questions include:
- Are you a first-time buyer?
- What’s your estimated purchase price for the home?
- What’s your expected down payment?
- How soon do you plan to buy a home?
- What’s your estimated credit score?
If you don’t know the exact answer to any of the questions, Home Loan Analyst says it’s OK to estimate. Once you’ve completed the simple assessment, Home Loan Analyst’s proprietary system processes your information. Then it sorts through potential mortgage loans to give you a personalized selection of offers from its network of partners.
When your personalized offers are revealed, you will likely see a variety of loans that suit your needs. Generally, you can choose from a range of mortgage loans, including adjustable and fixed-rate mortgages. Depending on your situation and credit history, loan amounts may go up to $3,000,000. Using Home Loan Analyst to find lending offers won’t impact your FICO credit score. However, if you choose to accept an offer, that lender will likely complete a hard pull on your credit report.
This straightforward process is an easy way to see a comprehensive range of mortgage options without getting overwhelmed.
It’s free to find mortgage loan offers on Home Loan Analyst. The site doesn’t charge any user fees because it’s a tool that connects you with partners, not a lender itself. Instead, it gets paid by lenders. The company acknowledges that this pay structure may lead you to wonder if the site is biased toward specific partners. Home Loan Analyst assures users that it takes its long-term reputation seriously. For that reason, its focus is on matching you with a lender that meets your needs.
After processing your completed questionnaire, Home Loan Analyst displays the rates that are available for you from its network or might match you with a partner who in turn can display a range of options. Your mortgage payment will vary depending on current rates and your specific situation. Ultimately, how much you pay for a mortgage loan depends on the terms of the loan you select as determined by the lender.
The Bottom Line
Home Loan Analyst is a free resource for homebuyers that makes it easier to find the right mortgage loan. Its brief assessment matches you to a range of offers tailored to your needs. This system is helpful for those who want to shop around without having to do the legwork.
Whether you’re buying your first home or investing in additional property, Home Loan Analyst is a handy tool that’s worth your consideration. It deserves to be on your radar as you compare top mortgage lenders.