LowRates.com Mortgage Review 2020

By Erik J. Martin

About our reviews

Bankrate’s editorial team researches, reviews and rates lenders to help you find one that fits your needs. Our experts consider a range of factors, including rates, loan types, time to close, fees and more. Reviews are updated regularly. Bankrate is an independent, advertising-supported comparison service. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy.

LowRates.com

NMLS: 3277

Bankrate Score

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4.4

User reviews
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( 56 )

4.6

Please note: In response to the coronavirus pandemic, lenders are changing their requirements continuously. Although we strive for accuracy at the time of publication, please be sure to check with the lender for updated details on down payments, credit scores, etc.

LowRates.com, which also operates as Sun West Mortgage, is an online and brick-and-mortar lender that was established in 1980. LowRates.com provides a variety of mortgage options and loans for homebuyers, including:
  • Conventional fixed-rate and adjustable-rate mortgages (ARMs)
  • FHA, VA and USDA fixed-rate loans
  • Jumbo fixed-rate loans
  • Home equity loans and home equity lines of credit (HELOCs)
  • Renovation, construction and investment property loans
It also offers rate-and-term refinancing, jumbo refinance loans, FHA refinance loans, VA refinance loans, USDA refinance loans, cash-out refinancing and reverse mortgages.

Nationwide availability

Available in all U.S. states except Georgia and Massachusetts; also available in Puerto Rico

Minimum credit score

620 for conventional mortgages; 500 for FHA loans; 500 for VA loans; 620 for jumbo fixed-rate loans

Loan types

Conventional fixed-rate and adjustable-rate mortgages (ARMs), FHA, VA and USDA fixed-rate loans, jumbo fixed-rate loans, home equity loans and home equity lines of credit (HELOCs), reverse mortgage loans, renovation loans, construction loans and investment property loans; refinancing options include rate-and-term refinancing, cash-out refinancing, jumbo refinance loans, FHA refinance loans, VA refinance loans and USDA refinance loans

Pros

  • Variety of loans available in 48 states and Puerto Rico (not available in Georgia or Massachusetts)
  • Fast approvals: True Approval program provides complete credit underwriting in under 24 hours
  • Closings in as few as 20 days
  • Down payment assistance available to eligible borrowers
  • No fees charged for online loans

Cons

  • Physical branch locations only available in 17 states
  • Sun West Mortgage corporate website could be more organized and user-friendly
  • Loans not available in Georgia or Massachusetts

Find your mortgage match

Get paired with your best mortgage offers in 2 minutes or less.

LowRates.com overview

Loan types

  • Conventional fixed-rate and adjustable-rate mortgages (ARMs)
  • FHA, VA and USDA fixed-rate loans
  • Jumbo fixed-rate loans
  • Home equity loans and home equity lines of credit (HELOCs)
  • Renovation, construction and investment property loans

Lender fees

LowRates.com doesn’t charge fees for online loans. Loan applications via its 800-number or at a branch location can range from $995 to $1,450 but vary by loan type.

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) and the Department of Veterans Affairs (VA).

For conventional loans, key requirements include good credit (typically a FICO score of 620 or higher). Depending on the loan, a minimum down payment of 3 percent is required (zero down for VA and USDA loans).

Other mortgage lender reviews:

Get started with LowRates.com

Borrowers can apply in person in 16 states (Arizona, California, Colorado, Illinois, Maryland, Michigan, Minnesota, Missouri, Nevada, New Jersey, North Carolina, Oklahoma, Oregon, Tennessee, Texas and Virginia) and Puerto Rico, online or by phone.

Hours

Call center: Monday - Friday, 24 hours Branch locations: Hours vary Contact: 855-786-2437,

LowRates.com consumer rating and reviews

4.6 reviews
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91% recommended

Customer Service Rating

Knowledge
4.8
Level of service
4.8
Professionalism
4.6
Responsiveness
4.6
0 out of 0 rates honored
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(56 reviews)
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51
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5

The 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.

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Showing 10 of 31 Reviews
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Mike M.
Scottsdale, AZ

12/12/2019

Jason Dupree and Hugo Ramirez are the rockstars!!

Couldn’t speak more highly of these two gentleman working in tandem with each other. Jason the loan officer and Hugo the transaction coordinator are just awesome! I shopped 5 different lenders before deciding to move forward with Low Rates. Not only was this because of favorable financing but ...

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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Dan
Oxford, PA

12/27/2019

An Amazing Experience!

Working with Rob and LOWRATES.COM was great! The loan process was the smoothest I have ever been a part of, this being my fifth loan. Rob was readily available by phone or email for any questions. The rate/terms I was offered were far lower than my previous mortgage provider and closing was an easy ...

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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Chiz
Lodi, ohio

1/30/2020

Easy as could be

Jason Dupree did a fantastic job of walking me through the process before we got started, made pre-approval within days. There were no surprises and we closed right on time. I would recommend Jason to anyone.

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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Travis B.
Milford, CT

1/30/2020

Phenomenal Refinance Experience

Hugo and the entire Low Rates team were fantastic in our recent mortgage refinance process. Him and his partner, Aaron, were both straightforward with their quotes and quick to respond with any information we requested or questions we had. I would highly recommend them both to anyone looking for a g...

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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Alex
Grand Rapids, Michigan

1/31/2020

An Excellent Experience!

My wife and I choose to refinance with an online lender in search of lower rates. We searched for online lenders and found Chuck Mathewson with LowRate.com. His reviews were excellent and my initial conversation with him was very professional. We choose to use him and are so happy we did! He was exc...

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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Evan
OH

2/26/2020

Lender was very easy to work with

I worked with Rob McGee of LowRates.com and he was very knowledgeable and answered all my questions throughout the Refinance process. I recommend Rob for anyone looking to buy a home or refinance, if the rates are low of course :)

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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Alex H
Columbus, OH

4/18/2020

Smooth refi at a low rate

I worked with Rob McGee of LowRates.com on my refi. I had been watching rates for a while, and when they dropped, LowRates had the best available. Absolutely smooth process from start to finish and closed on time despite what I’m sure has been high volume. All questions answered promptly and ac...

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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A very happy customer
Myrtle Beach

5/1/2020

Shawn Martin and Lynise Howie at LowRates.com

We worked with Shawn Martin and Lynise Howie a LowRates.com to refinance our home. They were wonderful to work with, got us a fabulous rate, were very efficient working through everything, and we went to a successful and smooth closing. I would very strongly recommend them to anyone looking to finan...

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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ABailey
Addison Township, MI

5/4/2020

Easy ReFi

Handled the whole refi primarily online. Rates were as advertised. In fact we went down another 1/8% from the time we first contacted John. Quick and responsive.

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
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S Carlson
Minnetonka, MN

5/4/2020

Low rate, professional service

Jason Dupree was very knowledgeable and the process went very smoothly, especially in consideration of the overall financial instability at the time of the COV-19 stay in place orders issue just after we locked in our rate in March.

Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes