Dietech Mortgage

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.

Dietech Mortgage is also known as Dietech Home Loans

Dietech is owned by GMAC and offers portfolio 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.

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.

» DISCLAIMER: The information contained in this article on 'Dietech Mortgage' is a collection of contributions by licensed mortgage professionals and is not the opinion of Broker Outpost LLC. Always consult a licensed professional before applying for a mortgage.