how it works
Overture’s system provides you with loan information that, we believe, should be useful to you in exploring loan choices. Below we describe how it works.
Overture allows lenders to maintain certain information about their loans in our system, mainly eligibility rules such as the minimum credit score, minimum income, state of residence for persons seeking a loan, and loan pricing information, such as the interest rate, term, total cost, and more, for each loan product.
Overture allows you to submit your information to the Overture system, and our system automatically obtains a credit report and determines whether you match with certain lenders’ loans based on the criteria they have provided. There are several key steps:
(i) In order to submit, you must authorize us to obtain a copy of your credit report. For information about credit reports and credit scores, click Here .
(ii) The system attempts to match the information you enter plus information from your credit report against each participating lender’s minimum requirements. Our system performs this matching function automatically without any manual decision-making or review on our part.
(iii) Overture’s site shows you the loan information for loans that you match. These results are merely the results of an automated decision process. These are not offers or guarantees.
(iv) In order to pursue any loan, you must work directly with the lender to determine whether you qualify and to submit an application with the lender.
Your submission of information to Overture is NOT an application and the results are not loan offers. To obtain any loan presented on the Overture site, you must submit an application to the lender directly – nothing performed on the Overture site substitutes for or replaces any action required with the lender directly.
DO NOT RELY ON THE LOAN RESULTS FOR ANYTHING OTHER THAN INDICATIVE INORMATION ON WHAT MIGHT BE AVAILABLE. Until you apply with a lender and get a lock-able offer, any loan terms could change. A lender could reject your application even though the lender’s loan terms were presented on the Overture site. This could happen for many reasons, such as if the information you submitted to us was incorrect, or if a lender’s loan policy has recently changed, or if there are qualifying factors the lender uses that we do not collect.
We do not make any guarantees about the loan information we show you or about the matching process. We strive to show you loans for which you are likely to be eligible. Overture cannot make any such guarantee.
We welcome lender participation in our site, but not all lenders participate. We do not guarantee or represent that the loans available through Overture are the best or representative of loans you might obtain through any lenders not participating. Overture’s system does not contain information for all lenders. You may view the list of participating lenders here. A lender’s loan might not appear on the Overture site even though you would be eligible for the loan.
Overture’s system is a marketing & matching service. Overture is not a loan broker. We do not represent you to the lender, and we do not represent the lenders to you. We do not arrange your loan for you. We also don’t make any credit decisions about you or your loan.
Lenders will pay Overture for our services. Lenders’ fees to Overture may be determined by the number of loans that result through our website for that lender. Lender payments to Overture are marketing fees.
Overture pays marketing partners for their efforts to promote the Overture site. You might have connected to the Overture site through a partner Overture pays for marketing services. In some instances, we pay marketing partners a portion of the fee that Overture receives from lenders, which is paid when a loan results.
Lenders have promised us that they will not charge you for any fees they might pay to us. Lenders will, however, build marketing costs into their total rates and fees. One could argue that the fee the lender pays to Overture is “in” the rates and fees the customer will pay the lender.
We’ll say it again: Overture is paid by the lenders we work with, and usually we are paid if you end-up taking a loan from the lender we connect you with.