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About us

Why should I use Lower.com?

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What is Lower.com?

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.

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How do Lower.com customers rate their experience?

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.

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Where does Lower.com operate?

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.

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How does Lower.com keep my information safe and secure?

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.

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I want to buy a home. When is the best point in my home search to use Lower.com?

If you’re buying a home, here’s when we recommend using Lower.com:  

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What types of refinancing goals can Lower.com help with?

If you’re considering refinancing, you can use Lower.com to:

  • Get cash out of your home.
  • Increase your monthly cash flow.
  • Consolidate high-interest debt.
  • Lower your monthly payment.
  • Explore options for shortening your loan term.
  • Learn more about refinancing and begin your application.
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What can I achieve by accessing equity with a HELOC from Lower.com?

Lower.com can help you access equity with a HELOC to:

  • Consolidate high-interest credit card debt.  
  • Fund home repairs or renovations.  
  • Pay for college.  
  • Pay off student loans.  
  • Learn more about HELOCs and begin your application.
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How do I get in touch with a real person at Lower.com?

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.

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Applying for a loan

How can I apply for a loan with Lower.com?

Click here to begin your application.

  • Tell us about yourself, your home, and your finances and we’ll find the right home loan for your needs.  
  • You’ll get personal attention from an expert loan advisor who will guide you through every step of the mortgage process.

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How does the application process work?

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.

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What information do I need to provide in my application?

To start your application with Lower.com, we recommend you have the following information on hand:  

  • A separate email address for each person that will be on the loan
  • Your online banking username and password, or details about how much money is in each account you want us to consider for your approval (e.g., checking and savings accounts, retirement accounts, stocks and other assets)
  • Your income and employer information
  • Your DOB & Social Security number(s) for each applicant

You can learn more about the documents needed and where to find them.

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What credit score do I need to get approved?

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.

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Will applying with Lower.com affect my credit?

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.

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How do I know if I will qualify for a loan?

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.

  • Ideally, your monthly expenses shouldn’t be more than 50% of what you earn each month, but some loan programs allow for more.  
  • Learn more about debt-to-income (DTI) ratio here.  
  • Ideally, you have a two-year work history with proof of current, stable income and/or assets.
  • There are certain circumstances and programs in which a credit score of 580 is enough, but typically you need a credit score of 620.
  • Whether you’re purchasing or refinancing, you’ll often need an appraisal. We work with an independent, third-party appraisal management company to order the appraisal for you.

If you’re a first-time homebuyer, learn more about how to apply for a mortgage.

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Loan programs and services

What types of purchase loans can I get with Lower.com?

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:

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What equity and refinancing options can I get with Lower.com?

When you use Lower.com to refinance your mortgage, we may recommend:

  • Conventional loans
  • FHA loans
  • VA loans
  • Jumbo loans
  • FHA and VA streamlines
  • You can also use Lower.com to get a HELOC (home equity line of credit).
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What kind of homes can I use Lower.com to get a loan for?

Most people use Lower.com to buy or refinance:

  • A single-family home
  • A second home or investment property
  • Condo, townhome, multi-unit property, manufactured home
  • We don’t provide mortgages for mobile homes. We encourage you to see if you can get approved for a single-family home.
  • Give us a call at (888) 509-8301 to connect with an expert loan advisor about the specific property you have in mind.

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I already signed a purchase agreement. How can I get a mortgage quickly?

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.

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What is pre-approval? How can I use Lower.com to get a preapproval letter?

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.

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What’s the “Buy Before You Sell” program?

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

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What’s Lower.com’s “Free Refi For Life” program?

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.

You can find more detail about Free Refi for Life here.

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Rates, costs, and appraisals

How competitive are Lower.com’s rates?

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.

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What can I expect my closing costs to be?

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.

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How much do I need for my downpayment?

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.

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How does Lower.com do appraisals?

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.

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Managing your loan

When is my first payment due?

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.

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Will I receive monthly statements?

Yes, you will be billed monthly based on your loan activity.

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I received my first mortgage statement and my payment is due to Lower. How do I pay for it?

If your first payment is due to Lower you can pay your bill online at: lower.secureconduit.net.

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Where can I mail a payment?

Lower LLC

Attn: Mortgage Payment Processing

125 Town Park NW Suite 300

Kennesaw, GA 30144

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I have a second loan (HELOC) through Lower. Where do I send payment?

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.

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I completed a refinance and received checks in the mail. What should I do with them?

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.

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Will my loan be transferred?

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.

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I received a letter saying my loan was transferred, but I already sent my payment to Lower. What do I do?

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.

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My loan was transferred. Who can I contact?

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

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