LowRates.com Mortgage Review 2021
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.
At a glance
NMLS: 3277
4.8
Bankrate Score
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Find my best matchesLoans offered
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 loansNationwide availability
Available in all U.S. states (except Georgia and Massachusetts) and Puerto RicoMin. credit score required
620 for conventional loans; 500 for FHA loans; 500 for VA loans; 620 for jumbo fixed-rate loansPros and cons
Pros
- Variety of loans available in 48 states and Puerto Rico
- 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
- Branch locations only available in 16 states
- Sun West Mortgage 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 and operating 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
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
- Rate-and-term refinancing
- Jumbo refinance loans
- FHA refinance loans
- VA refinance loans
- USDA refinance loans
- Cash-out refinancing
- Reverse mortgages
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).
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LowRates.com consumer reviews
4.7
81 reviews
Customer service rating
91% of reviews would recommend this lender
0 of 0 rates honored
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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 refi at a low rate
Alex H | Columbus, OH | 4/18/2020
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...
Shawn Martin and Lynise Howie at LowRates.com
A very happy customer | Myrtle Beach | 5/1/2020
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...
Easy ReFi
ABailey | Addison Township, MI | 5/4/2020
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.
Low rate, professional service
S Carlson | Minnetonka, MN | 5/4/2020
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.
Fast and Easy Refi
Derrick J | Charlotte, NC | 5/6/2020
Worked with Rob McGee to get my loan and the process was seamless. I checked several lenders and Lowrates.com had the lowest rates by far. Great refi!
Great Experience - Thank you!
Jon Caplis | Baltimore | 5/9/2020
John Keller was helpful, knowledgeable and responsive the entire way through. He made the process seamless during a difficult time. I really appreciate his efforts and enjoyed working with him. I would, and already have, recommend him to my family and friends and anyone who wanted a reference. ...
Excellent service and smooth refi
Happy Denver Client | Denver | 5/15/2020
Chuck Mathewson and Hugo Ramirez are a dynamic duo who made my refi experience smooth from start to finish. Both were informative, professional and sincere. They were quick to answer my questions and walked me through each step in the process.
Great experience
EJ | Connecticut | 5/23/2020
Had the pleasure of working with Taylor Wilson. Went above and beyond to help me through this process. Always returned calls right away and was very knowledgeable and professional. Taylor never made me feel like a bother no matter how many questions I had. I would highly recommend this company and T...
A Pleasure to Work With
Dave | Cincinnati, OH | 6/10/2020
John Keller is a pleasure to work with. He is very knowledgeable and makes the mortgage process simple. His communications were timely, on-point and clear. I don't think John ever sleeps since his responses were always within minutes at any time of the day. This was by far our easiest refinance. ...
Great experience
JR | Charlotte, NC | 6/18/2020
I worked with Hugo Ramirez. He was so easy to work with - he was honest, professional, and pleasant. Getting financing can be stressful, and he made the process surprisingly smooth. I have no complaints, and I would definitely work with him again.