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Report: More Than Half of Homebuyers Don't Shop Around For Mortgage

  • May 30th 2024

by UrbanTurf Staff

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A new report finds that more than half of homebuyers do not shop around for a mortgage. 

The survey from LendingTree found that 54% of homebuyers who took out a mortgage for their most recent home purchase only got one loan offer. In contrast, 45% of homebuyers who shopped around got a lower offer than their first mortgage offer. 

"Among those who compared more than one mortgage offer, 45% say the lowest offer didn’t come from their first lender," the LendingTree report found. "Going further, 46% of those who got a mortgage say they went with a lender they didn’t have a prior relationship with."

For the full report, click here. 

This article originally published at https://dc.urbanturf.com/articles/blog/report_more_than_half_of_homebuyers_dont_shop_around_for_mortgage/22367.

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