LowRates.com Mortgage Review 2022
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At a glance

NMLS: 3277
4.9
Bankrate Score
Loans offered
Conventional, jumbo, FHA, VA, USDA, fixed-rate, adjustable-rate; rate-and-term, cash-out and streamline refinancing; home equity line of credit (HELOC), home equity loan; construction and renovation loans; investment property; reverse mortgageNationwide availability
Available in all U.S. states (except Georgia and Massachusetts) and Puerto RicoMin. credit score required
620 for conventional loans; 620 for jumbo loans; 500 for FHA loans; 500 for VA loansPros and cons
Pros
- Variety of loans available in 48 states and Puerto Rico
- TRU Approval program provides complete credit underwriting in under 24 hours
- Closings in as few as 20 days
- Down payment assistance available to eligible borrowers
Cons
- Sun West Mortgage branch locations only available in 20 states and Puerto Rico
- Corporate website could be more organized and user-friendly
- Loans not available in Georgia or Massachusetts
LowRates.com overview
LowRates.com (also known as LowRates), is operated by Sun West Mortgage Company, an online and brick-and-mortar lender established in 1980. LowRates.com provides a variety of mortgage options, including both purchases and refinances, conventional and government-insured loans, home equity loans and construction loans.
Good for
Borrowers looking for a user-friendly application process and rate transparency
Loan types
- Conventional
- Jumbo
- FHA
- VA
- USDA
- Fixed-rate
- Adjustable-rate
- Rate-and-term, cash-out and streamline refinancing
- Home equity line of credit (HELOC)
- Home equity loan
- Construction and renovation loans
- Investment property
- Reverse mortgage
Lender fees
LowRates.com doesn’t charge any lender fees. There are, however, third-party fees that’ll be included in your closing costs.
Rates
LowRates.com advertises rates on its website and updates them several times a day. You can get a customized rate quote instantly after answering a few basic questions about your loan.
Reputation
LowRates.com parent Sun West Mortgage Company has 3.2 out of five-star rating (but only three reviews) from Trustpilot.
Online services
Although there’s no option for an online prequalification or preapproval at this time, borrowers can formally apply for a mortgage through LowRates.com, and also receive support via the website. Additionally, the website offers calculators, including rent versus buy, affordability and refinancing, to help you estimate costs and inform your choices. The lender doesn’t have an app, but you can sign many documents electronically. However, you’ll still need to sign closing documents in-person.
Minimum borrower requirements
LowRates.com adheres to the conforming loan requirements for mortgages approved by government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, as well as those backed by the Federal Housing Administration (FHA), the Department of Veterans Affairs (VA) and the Department of Agriculture (USDA). For conventional loans, these key requirements include good credit (typically a FICO score of 620 or higher) and a minimum down payment of 3 percent. However, anything less than 20 percent down will trigger a requirement for the borrower to pay for private mortgage insurance (PMI).
For FHA, VA and USDA loans, minimum requirements are set by the respective agencies. You can find them here:
Refinancing with LowRates.com
LowRates.com offers rate-and-term, cash-out and streamline refinancing, and its refinance rates are typically competitive to the market. These rates are updated several times a day. In general, the higher your credit score, the better your rate.
Not sure if LowRates.com is right for you? Consider these alternatives
- Philadelphia Mortgage Advisors review: This regional lender offers the ability to upload documents and track loan status online.
- Direct Home Lending review: Similar to LowRates.com, this lender tends to complete underwriting within one day.
- Texas Trust Home Loans review: Like LowRates.com, this lender doesn’t charge hidden fees, but is only available in a handful of states.
- Optimum First Mortgage review: This lender consistently earns high marks from borrowers.
- Anchor Home Mortgage review: This broker, who can help you find the right loan for your needs, also has helpful educational resources online, including a glossary.
Breakdown of LowRates.com overall review score
- Affordability: 5/5
- Availability: 5/5
- Borrower experience: 4.7/5
Review methodology
To determine a mortgage lender’s Bankrate Score, Bankrate’s editorial team rates lenders on a scale of one to five stars based on a variety of factors relating to the lender’s products and services. Bankrate’s partners compensate us, but our opinions are our own, and partner relationships do not influence our reviews. Here is our full methodology.
LowRates.com consumer reviews
4.8
213 reviews
Customer service rating
95% of reviews would recommend this lender
10 of 10 rates honored
Review this lender
Write a review of your experience with LOWRATES.
10 of 81 reviews
The consumer reviews posted on Bankrate.com ("Bankrate") are individual, subjective opinions of reviewers, and not of Bankrate. Bankrate does not endorse any of the opinions expressed by reviewers or any responses to reviews.
To help serve you with relevant information the consumer reviews shown below are limited to only those that this advertiser has received during the past 12 months.
Smooth process
Erik B | California | 5/19/2021
My mortgage consultant, Taylor Wilson, answered all my questions and was quick to reply anytime I reached out. It was a refi so I wasn't sweating the close date, but it was all completed in less than a month from my first contact. Would recommend.
Great customer service!
Carrie | Texas | 5/21/2021
I recently refinanced my house with LowRates and my loan officer Jacob King and my processor Wilfredo Avila were both great at keeping me informed and answering all my questions!
Fast. Responsive
Responsiveness | Charlotte | 5/22/2021
Taylor, spent time putting together a structure that worked for me the First Time.
Smooth and professional
Julianne DeSimone | Rhode Island | 5/24/2021
Everything went just as planned. The team working with me were awesome.
Excellent expertise, always accessible, very professional
Excellent expertise, always accessible, very professional | Orlando Florida | 5/25/2021
The LowRates team provide an efficient,, fast process replacing a private mortgage. Melissa and John were readily available throughout the process to provide status and answer all of our questions. I highly recommend them to others and would use them again without any hesitation.
Bethany Evans is amazing!
Alex | NC | 5/25/2021
The whole process was easy and fast. Great experience and Bethany was a dream to work with.
Refinance
Quick close on refinance | Gaithersburg | 5/25/2021
Highly recommend Bethany Evans and Amykaye Stacy on their assistance and quick response even on text made a less than 30 days closing on my refinance. Thank you ladies, hope to work with you again in the future.
Super Responsive and Follows Through to Finish
Moses | Memphis | 5/26/2021
After experiencing a drawn out process with a national bank lender, I turned to Low Rates as an alternative. Bethany and Issac at Low Rates responded quickly to every question and concern I had. They made the process easy and were willing to work with a local title company I had chosen. After wai...
Great folks to work with!
M | Lakewood CA | 5/26/2021
Rob McGee and Bailey Stef (loan coordinator) were a great 1-2 punch team to work with. Process was smooth from start to finish, which is impressive considering the current challenges we are all facing with regards to logistics, etc. Loan closed quickly, and Rob made himself available throughout the ...
Refinance
Wonderful Experience | Indiana | 5/27/2021
I worked with loan officer, Joe Perry, and loan coordinator, Christopher Maldonado. Both were very prompt to responding to my questions and helpful throughout the whole process. They made this process quick and simple. I provided all information in a timely manner to help the process go smooth. I ...