Lower Mortgage Review
See how often this lender's rate is at or below the median on 2025 loans.
How Bankrate scores Lower Mortgage
- Price competitiveness
How often this lender's borrowers got an interest rate at or below the median rate for similar loans.
3 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.
2 out of 5 - Customer complaints
How often consumers complain about this lender, and whether they get relief.
Clean5 out of 5 - Where and what they lend
How many states and loan types this lender serves.
98%5 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, at least 95% did, which might mean quoted terms held up, applicants were well qualified, 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
Lower has earned a reputation for a smooth process, with zero complaints on record across nearly 30,000 applications and a closing rate of more than 95% of the loans it approves.
But the tradeoff with Lower is about price: only about half of its originations were priced below comparable loans in 2025, and it charges less in added costs than fewer than 40% of comparable lenders, so the low-fee marketing doesn’t necessarily mean the lowest total cost. But Lower’s Free Refi for Life perk may tip the scales in its favor. If you buy or refinance once with Lower, the company will waive lending fees on all future refinances, with an estimated savings of $1,500 each time. (Remember, you’ll still have to pay required taxes and third-party fees.)
At a glance
Good for borrowers planning to refinance down the road or who want a smooth, low-complaint process — Lower’s Free Refi for Life perk waives future refinance fees, and its closing and complaint records are both strong. Not a good fit if you’re chasing the lowest rate: pricing is average, and Lower charges more in added costs than roughly 60% of comparable lenders.
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Figures are drawn from public lending and complaint data and weighted by loan volume.
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