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LowerMyBills.com Reviews

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Edited by: Moriah Chace

About LowerMyBills.com

LowerMyBills.com (NMLS: #167283) is a mortgage comparison site that connects individuals to possible mortgage lender matches. LowerMyBills.com is not a mortgage lender and will not directly provide a loan for your new home purchase or refinance. Along with lender comparisons, LowerMyBills.com also offers homebuying resources and tools, such as a mortgage calculator.

Visit www.lowermybills.com
Pros
  • Free to use
  • Helpful mortgage calculator and tools
  • In-depth editorial guides
Cons
  • Not a direct lender
  • Limited lender matches

Helpful Reviews

Lexington, GA
Verified purchase
Everything was pleasurable, easy, and very simple. We did a refi and LowerMyBills got us over to Rocket. There was good communication between us and Rocket Mortgage and everything...

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Lewisburg, TN
Verified purchase
There was a whole lot of work that went on when I transacted with LowerMyBills. Then, while I put in some information, I started getting calls from all kinds of loan companies. An...

Read more

Rates

Since LowerMyBills.com doesn’t originate loans, you won’t find direct rates on the site. Instead, you can use the mortgage calculator to input your desired loan amount, credit score and ZIP code to get an estimated rate. Remember, just because you see an estimated rate on LowerMyBills.com does not mean it will match you with a lender with that rate or that you will qualify.

Mortgage rates are constantly changing based on the current market. Rates will vary per lender and are based on your creditworthiness, down payment amount and other factors. It is important to compare rates from different lenders to ensure you are getting the lowest rate possible.

LowerMyBill connects people with lenders that offer both fixed-rate and adjustable-rate mortgages (ARMs). With a fixed rate, you’ll have the same interest rate over the length of the loan. ARMs provide an initially low fixed rate and then adjust regularly according to a benchmark index and margin specified by the lender.

Application process

With LowerMyBills.com, you can search for a home loan lender at any stage of the homebuying or refinancing process. The questionnaire takes less than five minutes to complete, and asks questions about your desired loan amount, credit score, down payment and employment. It will also ask for personal contact information, such as your name, email address, home address and phone number.

LowerMyBills.com promises not to spam you or send physical mail to the address provided. After you enter your information, the website shows you potential lenders along with links to get started with the loan process.

Steve, a reviewer on ConsumerAffairs from Texas, said he refinanced a loan using LowerMyBills, ultimately choosing Rocket Mortgage: “I was looking to get a lower interest rate with the refinance and not really looking to saving any money in terms of monthly premium, but overall, on the term of the loan, I am saving in interest savings. LowerMyBills did a great job.”

Loan types

LowerMyBills helps people find both home purchase and refinance loans. These may include conventional loans and government-backed loans, such as FHA and VA loans. Once you answer the questionnaire online, the company matches you with compatible lenders.

Refinancing

If you’re using LowerMyBills.com to kick off your mortgage refinance, it’s important to research your matches on an unbiased review site to ensure the lender is well-rated and has competitive rates.

Once matched on the site, you will immediately receive an email from the lender, where you then have to answer all of the questions again for the lender’s automated rate tool.

The historically low interest rates of 2020 and 2021 made refinancing a mortgage a smart move for many. In 2022, rates are steadily increasing, and interest in refinancing is decreasing.

HELOC and home equity loans

When you input that you want to refinance your home through LowerMyBills.com, you may be shown lenders with home equity loan or home equity line of credit (HELOC) options.

It is best to go through a helpful HELOC or home equity buying guide first that points to unbiased reviews and gives thorough insight into rates and requirements.

Requirements

Using LowerMyBills.com to initiate your mortgage search requires only basic information. Once you choose a match, you will be asked to enter additional personal and financial information.

To increase your chances of getting a preapproved loan, you should have a good idea of your financial standing, including your credit history and monthly budget. Trying to finance more house than you can afford will lead to loan rejection. Additionally, having a strong credit score and a low debt-to-income (DTI) ratio will increase your chances of approval.

National mortgage requirements by type

Cost and fees

Using LowerMyBills.com is free. If you connect with a lender and move forward with the mortgage process, you will learn about loan costs and fees. Loan charges, including closing costs, vary depending on your lender. After you apply, the lender will give you a form called a Loan Estimate, which gives projected loan costs.

FAQ

What is LowerMyBills.com?

LowerMyBills.com is an online hub for mortgage resources, tools and lender recommendations. It is not a mortgage lender and does not originate loans.

Is LowerMyBills.com legit?

LowerMyBills.com is a legitimate business and resource. While the website has useful general information, it’s not completely clear how many lenders it works with, so you may choose to explore brokers and other lenders while searching for the best offers.

Where is LowerMyBills.com available?

LowerMyBills.com is available online nationwide.

Still have questions?

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LowerMyBills.com Reviews

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    How do I know I can trust these reviews about LowerMyBills.com?
    • 4,946,968 reviews on ConsumerAffairs are verified.
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    • Our moderators read all reviews to verify quality and helpfulness.
    Page 1 Reviews 0 - 40
    Verified purchase
    Online & AppBilling

    Reviewed July 19, 2022

    I paid off a couple of bills using LowerMyBills and their website was good.

    Thanks for your vote!
    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed July 4, 2022

    There was a whole lot of work that went on when I transacted with LowerMyBills. Then, while I put in some information, I started getting calls from all kinds of loan companies. And I just went back with the company that I already financed with. But I was happy with my experience.

    Thanks for your vote!

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      Verified purchase

      Reviewed June 3, 2022

      It worked out fine with LowerMyBills. I was contacted right after I filled out the little questionnaire.

      Thanks for your vote!
      Verified purchase
      Customer Service

      Reviewed May 19, 2022

      Everything was pleasurable, easy, and very simple. We did a refi and LowerMyBills got us over to Rocket. There was good communication between us and Rocket Mortgage and everything worked out great.

      Thanks for your vote!
      Verified purchase
      Staff

      Reviewed May 14, 2022

      It was perfect with LowerMyBills. If you need help, that's the place to go.

      Thanks for your vote!
      Verified purchase
      Loan Process

      Reviewed May 7, 2022

      I was seeking a lender that would loan me money and navigating through LowerMyBills.com was fairly easy. The approval was around a week.

      Thanks for your vote!
      Verified purchase

      Reviewed April 29, 2022

      I got Rocket Mortgage through LowerMyBills. The service has been positive and I'm happy.

      Thanks for your vote!
      Verified purchase
      Online & AppEase of Use

      Reviewed April 28, 2022

      We refinanced our house and it all closed. It was pretty easy to navigate through their website and now, everything is great.

      Thanks for your vote!
      Verified purchase
      StaffRates

      Reviewed April 15, 2022

      We took out a new mortgage and I don't think anybody can beat the interest rate that we got. We were very satisfied with the company they got. They were very professional.

      Thanks for your vote!
      Verified purchase
      StaffLoan Process

      Reviewed April 14, 2022

      The transaction went smoothly from beginning to end. My loan officer was wonderful.

      Thanks for your vote!
      Verified purchase
      Customer ServiceOnline & AppStaffLoan Process

      Reviewed April 13, 2022

      Their website was real good. Usually, we talk to them directly, so all my questions were answered. My loan officer was Allan. He was real confident, and he knew his stuff. He took the time to answer any questions we came up with. If we ever had a question, he gave me a direct line to call him and it didn't ever seem like we were a bother.

      Thanks for your vote!
      Verified purchase
      Staff

      Reviewed March 17, 2022

      I'm a veteran, and there was something about a veteran benefit for mortgages. It led me to Rocket Mortgage, and it worked out. The process took exactly about a month, and I love the man who helped me out. His name is Dallas, and he did an awesome job. He was very personable, and he wasn't salesman-y, which that rubs me the wrong way. He really acted like he cared, and when we had some glitches or questions, he was always right there. He is really good at what he does.

      Thanks for your vote!
      Verified purchase
      Staff

      Reviewed March 10, 2022

      Navigating their site was pretty easy. The service enabled me to learn about refinancing our house and it would have offered the information needed to make some kind of a decision about it one way or the other.

      Thanks for your vote!
      Verified purchase

      Reviewed Feb. 24, 2022

      LowerMyBills is Rocket Mortgage. I refinanced with them and they did pretty damn good.

      Thanks for your vote!
      Verified purchase
      Online & App

      Reviewed Feb. 23, 2022

      I was very satisfied with LowerMyBills. Their website was fine. But then my husband said he had something that he had gone through, so we did that instead.

      Thanks for your vote!
      Verified purchase
      Staff

      Reviewed Feb. 15, 2022

      The reps from LowerMyBills were very easy to work with. They were very open to communicating. I was satisfied with my experience.

      Thanks for your vote!
      Verified purchase
      StaffLoan ProcessRates

      Reviewed Feb. 9, 2022

      I refinanced my house and I went through Rocket Mortgage. LowerMyBills helped me find it. The representative worked with me on getting a lower rate and we ended up knocking 10 years off of my loan so that was good.

      Thanks for your vote!
      Verified purchase
      Staff

      Reviewed Jan. 19, 2022

      Things went very smoothly with Rocket Mortgage. My rep was very informative and walked me through everything step by step. A lot of it had to do with the fact that I had my ducks in a row. They needed information and I had it at my fingertips. The benefit of Rocket Mortgage was everything was online. I didn't have to worry about going to the bank or having to deal with anybody.

      Thanks for your vote!
      Verified purchase
      Online & App

      Reviewed Jan. 15, 2022

      A friend of mine was on LowerMyBills and she told me I should try it. So, I did. I don't go into the computer very much because I'm not that computer savvy. The website is a little difficult. I’m not a young woman anymore and it’s hard for me to get around that. So, I’ve only been on it once.

      Thanks for your vote!
      Verified purchase

      Reviewed Jan. 11, 2022

      The process is pretty straightforward and it was really easy navigating their form. They had everything labeled right.

      Thanks for your vote!
      Verified purchase
      Customer Service

      Reviewed Dec. 31, 2021

      LowerMyBills was great and the process was simple. I put my information in and within 30 seconds, I had a phone call from Rocket Mortgage.

      Thanks for your vote!
      Verified purchase
      Sales & Marketing

      Reviewed Dec. 19, 2021

      As soon as I went to the website, it looked like a scam site, so I immediately had to google it to find out if it was legit before I put any of my information in it. The website seems a bit poorly built and it needs to be modernized. Apart from that, it brought me directly to Rocket Mortgage's website. I thought, "That's a really weird place for this to go," but I ended up refinancing through them and saving some money. But I still get a letter every single day, and it's like, "You want a warranty?" I'm like, "No, I'm good on a warranty. Thank you, though."

      Thanks for your vote!
      Verified purchase
      Online & AppEase of Use

      Reviewed Dec. 14, 2021

      They were great. They were to the point and easy to speak to. Their website was also fairly easy to navigate. I'm very satisfied with the lender that LowerMyBills matched me up with.

      Thanks for your vote!
      Verified purchase
      Staff

      Reviewed Dec. 5, 2021

      We did a small transaction, and we had somebody to guide us every step. The rep was very knowledgeable and got us where we needed to be. What we got sounded good too.

      Thanks for your vote!
      Verified purchase
      BillingRates

      Reviewed Dec. 4, 2021

      I had a very seamless experience. I really enjoyed working with them. From the time I filled out the information with them to closing was 11 days. I'm very satisfied.

      My home mortgage and my HELOC both went down almost 2%. I was able to roll in a high-interest credit card that was at 29%. I'm saving myself $500 a month.

      Thanks for your vote!
      Verified purchase
      Customer ServiceTimeliness

      Reviewed Dec. 3, 2021

      I refinanced my mortgage and everything went smoothly. My only complaint with the entire thing was within minutes of me clicking online to submit, it was like a radio station at home. The phone just kept ringing. That was the only annoying thing.

      Thanks for your vote!
      Verified purchase
      Customer ServiceStaff

      Reviewed Dec. 2, 2021

      Navigating their site was easy. The mortgage company they’ve partnered me with has been great. Everybody’s been considerate and listened to my concerns and what I was wanting to get out of the experience. It’s been really easy to do everything. I did everything either on the phone or from my computer at home. There was no red tape. They didn’t try to string me along with other things.

      Thanks for your vote!
      Verified purchase

      Reviewed Dec. 1, 2021

      Navigating the site of LowerMyBills was easy.

      Thanks for your vote!
      Verified purchase
      StaffHonesty & Transparency

      Reviewed Nov. 30, 2021

      What got me to that site was misleading. It was telling me that I may qualify for a stimulus type of thing. I answered these questions to see if I was eligible for the supposed stimulus. But it ended up telling me nothing about any stimulus, that my mortgage company would be in contact with me. But the lender that I have was great and we had everything taken care of. We got what we needed to get done.

      Thanks for your vote!
      Verified purchase
      Customer ServiceRates

      Reviewed Nov. 29, 2021

      Everything was good. The rate they gave me was a great rate. Their customer service was good, too. They were on top of everything. I was satisfied.

      Thanks for your vote!
      Verified purchase
      Loan ProcessRates

      Reviewed Nov. 17, 2021

      I got my interest rate lowered a great amount for my home loan. It was beneficial in the end. I like their simplicity and I appreciate the options to make a change and save money in your life because that's what it's all about at this point.

      Thanks for your vote!
      Verified purchase
      Ease of Use

      Reviewed Nov. 10, 2021

      LowerMyBills' website was easy to navigate. It was pretty cut and dry and straightforward.

      Thanks for your vote!
      Verified purchase

      Reviewed Nov. 2, 2021

      When I used LowerMyBills, it was straightforward. I didn’t feel like I was being sold anything I wasn’t looking for. I ended up with Rocket Mortgage and they knocked it out of the park for me. It was a very good experience.

      Thanks for your vote!
      Verified purchase
      Customer Service

      Reviewed Oct. 29, 2021

      We put our information in and then we got contacted right direct by Rocket Mortgage. Navigating through the site seemed to be pretty good. The only thing I wasn't keen on is after we got contacted by Rocket Mortgage, we got bombarded with about 1,000 emails from everybody and everybody under the sun.

      Thanks for your vote!
      Verified purchase
      Customer ServicePunctuality & Speed

      Reviewed Oct. 22, 2021

      LowerMyBills worked great. It did exactly what I wanted to and it was quick and easy. But I didn’t know that I was dealing with anything other than Rocket Mortgage. I clicked on something about a month ago and that led me to a call with the woman from Rocket Mortgage. I talked to my wife and then, we had another call with the three of us. After that, we made everything happen. We had our closing here within probably 15 days from when I first talked to the Rocket Mortgage lady.

      Thanks for your vote!
      Verified purchase
      Customer ServicePunctuality & Speed

      Reviewed Oct. 21, 2021

      Everything went really well with LowerMyBills. It was a very quick and easy experience. I filled a form out on the site. I had a phone call within 30 seconds, and I closed escrow on my refinance in six days. So, it went smoothly.

      Thanks for your vote!
      Verified purchase
      Customer ServiceStaff

      Reviewed Oct. 19, 2021

      The refinance was through Rocket Mortgage so it all worked out great, and it went as smooth as silk. People should give it a whirl. The customer service was excellent and the outcome exceeded my expectations because I didn't have many going into this.

      Thanks for your vote!
      Verified purchase
      Staff

      Reviewed Oct. 18, 2021

      The process with LowerMyBills worked out quite well. It had me provide all of the same information as my original mortgage and it was nice that the gentleman worked with me after hours. So, rather than having to set aside an entire workday to do something, I was able to work after hours and knock it out in more or less two days. The website was nice. All I had to put in were some of the basic information and I was informed that Rocket Mortgage was the group that was going to help me. They were the ones who were best suited for the refinance.

      Thanks for your vote!
      Verified purchase
      Customer ServiceStaff

      Reviewed Oct. 12, 2021

      I went to Rocket Mortgage and the refinance went well. It only took a week and a half to get everything finalized, and it was done. Robin, the one I talked to on the phone, was amazing. She was super helpful, pleasant to talk to and wasn’t pushy.

      Thanks for your vote!
      Verified purchase

      Reviewed Oct. 6, 2021

      Everything was great with LowerMyBills.

      Thanks for your vote!

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      LowerMyBills.com Company Information

      Company Name:
      LowerMyBills.com
      Website:
      www.lowermybills.com