LoanLock Review
See how often this lender's Bankrate auction price beats comparable loans from 2025.
Bankrate verified lender
This lender is a Bankrate Auction Participant, meaning we verify their offer authenticity and hold them to high standards to ensure you get the best possible rate offer.
How Bankrate scores LoanLock
- Price competitiveness
How often this lender's borrowers got an interest rate at or below the median rate for similar loans.
5 out of 5 - Amount of overpayment
How much more this lender's borrowers paid than the lowest-cost mortgage offer for a similar borrower and loan, almost always found exclusively through Bankrate's auction.
5 out of 5 - Customer complaints
How often consumers complain about this lender, and whether they get relief.
5%3 out of 5 - Where and what they lend
How many states and loan types this lender serves.
73%4 out of 5
No lender can pay for a higher Bankrate Rating. Every score comes from the same data and criteria.
2025 ratings, across all four measures
A few more details worth knowing
Though these don't affect the star rating, we show them so you have the full picture.
For applicants age 62 and older, we measure two things: whether this lender denies them more often than its own lending patterns would predict after accounting for loan size, income, debt-to-income ratio, and loan type; and whether it lends to them at rates similar to comparable lenders. Importantly, federal mortgage disclosure data does not include applicants' credit scores, so the analysis cannot account for differences in creditworthiness that may explain some disparities. This limitation applies to all lenders, making comparisons more consistent, but its impact may vary across lenders. These measures identify potential disparities, not proof of unfair treatment.
We looked at how often a lender's applications end up as closed loans, not counting any that were denied or the applicant withdrew. At this lender, 90% to 95% did, which might mean some quoted terms changed before closing, some applicants stepped away, or both.
Importantly, this measure is not included in the scores because a lender's closing likelihood might be pulled down by factors outside their control, such as differences in application volume. Nonetheless, there are clear performance differences between lenders even after these factors are controlled for, so it is included for informational purposes only.
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What Bankrate's editors think
LoanLock is licensed in 37 states and Washington, D.C., with three more states in progress. Its most distinctive options sit outside the ordinary loan menu: FHA loans that accept credit scores as low as 500 or no FICO score at all and a non-QM lineup covering DSCR loans for investment properties, asset-depletion and bank-statement income, and ITIN loans for foreign nationals. Despite the name, LoanLock’s rate lock is fairly ordinary: borrowers lock in once documents clear underwriting, advertised with no lock-in fee, but there’s no formally published float-down option or extended lock period to set it apart.
LoanLock earned a 5-star Bankrate Rating but only a 3-star Overall Rating — meaning its bids in Bankrate’s auction are priced considerably more aggressively than its broader book of business. About half its mortgages were priced below comparable loans in 2025, and it charges less in added costs than fewer than 40% of the comparable lenders we rate. About 94% of its approved loans reach closing, a solid rate among the lenders we track.
At a glance
Good for borrowers who don’t fit a standard box — LoanLock’s menu leans into FHA credit scores as low as 500 and non-QM options like DSCR and foreign national financing. Not a good fit if you’re choosing based on Bankrate auction rate alone: pricing across its full business runs average to higher than comparable lenders.
What consumers say
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Figures are drawn from public lending and complaint data and weighted by loan volume.
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