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About Refily
Refily (NMLS #167283) is a refinance lender comparison tool. Refily is part of LMB Mortgage Services, more commonly known as LowerMyBills.com. Refily is not a lender or a broker, but you can use the site as a general starting point for home refinancing. Refily will match you with three lenders and show you estimated rates, closing fees and monthly payment for each.
Pros & Cons
- Free to use
- Helpful refinance calculator
- Not a direct lender
- Limited lender matches
Featured Reviews
Navigating the forms for Refily was real easy. The lender they found for me, Rocket Mortgage, was super easy to deal with. We had one little incident with miscommunication and it ...
Read full reviewI was told by a couple of the banks locally that they couldn't help me, but Refily was able to put me in touch with Rocket Mortgage. … I was under the impression they were just go...
Read full reviewRates
Since Refily doesn’t refinance loans directly, you won’t find direct rates on the site. Refily advertises its feature lenders as Rocket Mortgage, loanDepot, New American Funding and Amerisave Mortgage. Depending on your online Refily application input, you can be matched with one of these lenders. You should always research each lender and compare rates before moving forward.
Application process
Refily is designed for refinancing comparison. To purchase a new home, try comparing rates of other reputable home loan lenders.
The refinancing questionnaire with Refily takes less than five minutes to complete and asks thorough questions about your current property, loan terms, refinance goals and current financial situation.
Laura, a reviewer on ConsumerAffairs from Texas, said they refinanced a loan using Refily, ultimately choosing Rocket Mortgage: “The refinance with Refily went so smooth that I was just kind of shocked. I tried to do it with somebody else at first, and the rates were way higher. … It went a little too easy almost.”
Loan types
Refily is an online tool that shows different refinance options. Loan types vary by lender. Lenders can show you which types of loan you will qualify for based on your income, area and home price. First-time homebuyers and military-connected individuals are eligible for special government-backed loans with lower down payment requirements.
Refinancing
When using an online comparison tool, you’ll want to make sure you’re not just choosing the first refinance lender listed. Instead, you should vet each lender recommended for you to ensure it is a good fit for your refinance needs.
Once you complete your Refily application, expect to be emailed or texted from different refinance lenders.
Requirements
Refily asks you for basic information in its online application. You do not have to submit your Social Security number, and there is no effect on your credit. Any rate quotes you receive through Refily will be an estimate based on your answers. Your real rates can increase or decrease once you start the application process with the lender and your information is verified.
Just like you don’t want to buy more house than you can afford, you don’t want to take out too much money if you are choosing to do a cash-out refinance.
National mortgage requirements by type
Min. credit score | Min. down payment | Compare with other lenders | |
---|---|---|---|
Conventional | Typically 620 | Typically 3% | Mortgage lenders |
FHA | 500 | 3.5% with 580 credit score | FHA lenders |
VA | Set by lender (often 580) | 0% | VA lenders |
USDA | Set by lender (often 640) | 0% | USDA lenders |
Cost and fees
Using Refily is free. If you connect with a lender and move forward with the refinance process, you will have to pay fees and closing costs. Refinances have closing costs, such as the home appraisal fee. Depending on your lender, you can get these closing costs rolled into your refinance so you won’t have to pay any money out of pocket at closing.
FAQ
What is Refily?
Refily is a free, online comparison tool for refinancing. Add your home and financial details into Refily’s online application and get matched with three lender options.
Is Refily legit?
Refily is a legitimate business and resource. It is not a direct lender and cannot guarantee refinance rates.
Where is Refily available?
Refily is available online nationwide. Some of its refinance lender partners are not available in all states.
Refily Reviews
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Popular Mentions
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- 4,534,748 reviews on ConsumerAffairs are verified.
- We require contact information to ensure our reviewers are real.
- We use intelligent software that helps us maintain the integrity of reviews.
- Our moderators read all reviews to verify quality and helpfulness.
Refily Company Information
- Company Name:
- Refily
- Website:
- www.refily.com