Dietech Mortgage is known for its $395 flat rate refinance and its popular advertising slogan, "Lost another loan to Dietech."
The $395 flat rate loan comes with a higher interest rate. Mortgage brokers offer similar loans, with no or low closing costs, but can almost always deliver a lower rate than Dietech Mortgage.
Lenders that offer low or no closing cost loans usually charge borrowers a higher interest rate. This rate will cost borrowers tens of thousands of dollars over the life of the loan.
Anytime you are considering getting a mortgage loan, whether it is for refinancing or buying a home, you should shop with at least 2 lenders. If you are considering using a lender such as Dietech you should shop around with another mortgage company as well. The old saying, if it sounds to good to be true it probably is, especially pertains to deals that boast low or no closing costs for a home mortgage loan.
If you are considering a mortgage loan with Dietech, ask them for a Good Faith Estimate (GFE). Then give me a call at 888-418-4467 and let me show you how I can offer you a better interest rate and lower closing costs.
Dietech is owned by GMAC and offers portfolio loans.
Dietech Mortgage is also known as Dietech Home Loans
Dietech has a very high marketing overhead, that cost is passed down to the mortgage borrower. You can generally find a much better deal with a mortgage broker than you can with Dietech.