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Lower.com is an online mortgage lender that has funded billions of dollars in home loans. We believe homeownership is the greatest wealth creator in America today. Our goal is to make homeownership more accessible to more people.
Lower.com delivers a best-in-class customer experience with ratings of 4.8 on Trustpilot, 4.9 on Google, and 4.9 on Zillow. Lower.com also has an A+ rating from the Better Business Bureau.
You can use Lower to get a loan in 45 states (not available in New York, Hawaii, Alaska, Rhode Island, Vermont) and the District of Columbia. At this time, you can’t use Lower.com to get a loan in Puerto Rico or anywhere outside the U.S.
Protecting your personal information is our top priority! We encrypt everything and we’re constantly monitoring our site to make sure it’s secure. We won’t sell your data or use it for anything other than what’s stated in our Terms of Use, SMS Texting, Electronic Documents, Realtor Communication, Non-affiliate Information Sharing Policy, and eConsent Policy.
If you’re buying a home, here’s when we recommend using Lower.com:
If you’re considering refinancing, you can use Lower.com to:
Lower.com can help you access equity with a HELOC to:
Lower.com is an online lender. Because we’re online, we don’t have offices that are open to the public but you can give us a call at (888) 509-8301 to connect with an expert loan advisor
If you’re a current borrower looking to speak with customer support, you can call us at (833) 920-2273 or email us at care@lower.com (Monday - Friday| 9 AM EST - 5:00 PM EST.
Click here to begin your application.
Our online application asks you a series of questions to help us evaluate your eligibility for a home loan. We use your application details and information from your credit report to determine whether we can approve you and provide personalized recommendations to support your goals.
Once you're qualified, our expert loan advisors will help you every step of the way to get your mortgage to closing.
To start your application with Lower.com, we recommend you have the following information on hand:
You can learn more about the documents needed and where to find them.
You can get approved with a credit score as low as 580, as long as you meet our other eligibility criteria.
Keep in mind that the score we use might be slightly different from the one you get from your credit card company or other source.
The online application you can find here involves a soft credit check which won’t affect your credit score.
Once you are ready to move forward with a loan, your expert loan advisor will walk you through the full hard-check credit report. Don’t fret, it’s just a simple and necessary part of the loan process.
We look for certain things when we evaluate a loan application. While the approval process is unique to each person, here are some general guidelines.
If you’re a first-time homebuyer, learn more about how to apply for a mortgage.
Lower.com recommends loans you may be eligible for based on the information you provide.
When you use Lower.com to buy a home, we may recommend:
When you use Lower.com to refinance your mortgage, we may recommend:
Most people use Lower.com to buy or refinance:
If you already have a signed purchase agreement, apply online to get started. Afterwards, one of our expert loan advisors will give you a call so we can speed up your mortgage process.
A mortgage pre-approval is a process that establishes how much you can afford to borrow to purchase a home. Lower.com will review your assets, credit score, and income so we can determine which loans you're eligible for, how much we can lend you, and what your interest rate could be.
You will receive a pre-approval letter once you've been pre-approved that you can share with your real estate agent and sellers.
It’s never too early to get pre-approved. It’s often easier than most imagine. If you’re ready to start shopping for that perfect home, you’ll understand how much you can afford and will help with your search. If there are some items standing between you and pre-approval, our expert Loan advisors will coach you through the journey.
Learn more about how to get a mortgage pre-approval with Lower.com.
Lower.com offers different programs that allows customers to buy a new home before the sell their departing residence.
Under certain circumstances, there can be a no contingency offer placed on the borrower’s vacated Primary Residence. This allows us to exclude the existing mortgage payment in the qualifying debt-to-income ratios for conventional loan programs.
There are also programs that buyers can be offered up to 75% of their current homess value in a 0% interest bridge loan. This allows them to use the equity in their current home for the down payment and closing costs on a new home without selling their current home
This program eliminates the need to simultaneously sell a current home while purchasing a new one, reducing stress and complexity in the process. The sale of the current home is required to be completed within 90 days of closing on the new home.
Not all homes will qualify for this program, speak to a Loan Advisor to confirm your home qualifies
Buy now or refinance now with Lower.com and know you can lower your rate later - for free!
This offer waives Lower.com’s origination, underwriting, processing, or administrative fees.
You must have closed a previous first-lien refinance transaction on or after December 1, 2018 with Lower.
All applications are subject to underwriting and credit approval.
Our rates are highly competitive (but your rates are going to vary depending on your finances and the property).
Going with the lowest rate might seem smart, given how much interest you pay over the life of a mortgage. But there are times when choosing the lowest rate might not make the most sense.
What’s more important than just the lowest interest rate is getting the right mortgage for your situation - and a lender who helps you do that.
If you want to estimate how much you’ll need to bring to the closing table, it depends on whether you’re buying or refinancing.
If you’re buying a home, plan to have at least 3% of the purchase price for a down payment and between 3% and 6% of the purchase price for closing costs.
If you’re refinancing with Lower.com, you might not need to pay out of pocket to close your loan. In many cases, we may automatically roll all your closing costs into your loan to make refinancing more affordable.
Your downpayment depends on your individual preferences (for example: one borrower may want to make a large downpayment to reduce the interest they’ll have to pay while another borrower may want to retain as much of their savings as possible for other expenses) and the loan type. Learn more about how much money to save for each loan type.
An appraisal is often a necessary step in the loan process. Lower will order an appraisal on your behalf, if it’s required for your loan.
By law, appraisers must be an independent third party not affiliated with you or your mortgage company. We don't have any say in the appraiser that's selected and don't own any appraisal companies.
Your first payment will be due on the first of the month. Please refer to Closing Documents and the First Payment Letter. You should also be receiving an email regarding your first payment.
Yes, you will be billed monthly based on your loan activity.
If your first payment is due to Lower you can pay your bill online at: lower.secureconduit.net.
Lower LLC
Attn: Mortgage Payment Processing
125 Town Park NW Suite 300
Kennesaw, GA 30144
Prior to your first payment due date, you’ll receive a mortgage statement and/or a notice of loan transfer in the mail. This will include your new loan number and payment instructions. If you are still unsure of where to send your first payment, you can send it via mail to the address listed above and we’ll get it where it needs to go.
You will need to mail the checks to the corresponding creditors that are listed.
Recommend you include your latest billing statement so the creditor can locate your account.
Regardless of the lender, thousands of loans are sold every day. If this occurs, know it’s completely normal, and won’t impact the terms of your loan. Your loan may be transferred to another company.
If you’ve already sent your payment to Lower, there’s nothing else you need to do. We’ll automatically endorse your payment and send it to your new servicer on your behalf.
Don’t worry, loan transfers are completely normal and won’t impact the terms of your loan. Here are the contact details if your loan was transferred to:
ServiceMac (Lower)
Provident Funding
Valon
© 2024 Lower, LLC is a subsidiary of Lower Holding Company. NMLS #1124061 5950 Symphony Woods Road, Suite 301, Columbia, MD 21044 | nmlsconsumeraccess.org | Equal Housing Lender. Licensed in 46 states including the District of Columbia | Arizona Mortgage Banker License -- 1000936 | Massachusetts Mortgage Broker License -- MC1124061 | Massachusetts Mortgage Lender License -- MC1124061 | Lower, LLC conducts business in Kentucky, and Washington as Lower.com, LLC; Montana as Lowerdotcom, LLC; Oklahoma as “Lower Mortgage, LLC.
Lower, LLC is a family of companies. Lower® and its DBAs (Homeside Financial, AMSW Lending, Community Lending, Alderus Mortgage, AMSW Lending, Community Lending, Fairfax Mortgage, First Trust Mortgage Company, First World Home Loans, Hamilton Home Mortgage, Heckman Mortgage, Homeside Financial, Key Mortgage Group, McCaughan Home Lending, Oxford Home Lending, lower.com, PowerTPO, Sky Mortgage Group, True Lending, Universal Lending Home Loans, Yes Mortgage) provide home loans; Lower Realty, LLC provides real estate services; Lower Insurance, LLC facilitates shopping experience for homeowner’s Insurance policies.
