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RateGator.com Launches Beta Mortgage Site: The eBay for Mortgages is Here

Launch Is First Step in RateGator.com’s Goal to Empower Consumers with Tools and Information to Transform the Way They Finance Their Homes

July 1, 2015

SARATOGA SPRINGS, NEW YORK – Today, RateGator.com announced the launch of its mortgage site, offering free, unbiased estimates of the rates that consumers should be offered from banks based on pricing and yield spread data from the secondary mortgage market; giving the borrower a better understanding of how much room loan officers have to negotiate on rate.

In addition to giving consumers insights into banks’ real rock bottom prices, borrowers can set their own mortgage terms with the help of the RateGator Build Your Offer tool. Borrowers use the tool to set their preferred interest rate, term, down payment, and program type; their offer is then made available to approved loan officers for acceptance. When building their offer, borrowers create a profile with information like their credit score, income and price range. To give borrowers an idea of what is a reasonable offer (meaning what is likely to be accepted by a loan officer in their area), RateGator serves up a range based on offers made by borrowers with similar financial statistics that have recently been accepted. If a borrower’s offer is accepted, RateGator connects them with the loan officer that accepted their offer on the best terms. This whole process is completed within hours of the borrower submitting an offer.

Finding this information on RateGator.com and submitting an offer is free, and does not require anyone to enter any personal information until they are ready to be contacted by a loan officer.

RateGator’s business is advertising-based. Its consumer offering provides a platform for loan officers to bid on borrower offers and advertise their services to consumers who are serious about obtaining the most competitive financing rates and terms. Each loan officer is screened before receiving RateGator approval and is subject to on-going review based on borrower satisfaction.

For more information, or to submit an offer to find the best rate for you, visit http://www.rategator.com/.

About RateGator:

RateGator launched its beta service in July 2015, with the goal of empowering consumers with tools and information to transform how they finance their home. RateGator was started by BrandXAds’ Chief Technology Officer – Brad Kriss- and its General Counsel – Shawn Murrane.

SOURCE: RateGator.com

CONTACT:

Shawn Murrane
1-518-435-5064
shawn@rategator.com