LowRates.com Mortgage Review 2025

LowRates.com overview

LowRates.com is owned and operated by Sun West Mortgage Company — an online and brick-and-mortar lender founded in 1980. It prides itself on a customer-focused approach, fast turnaround times and experience in the market. LowRates.com offers conventional and government-backed loans, as well as construction loans and investment property loans.

Pros and cons of LowRates.com

How Bankrate scored LowRates.com

Affordability: 4.2/5

Because of LowRates.com’s below-average APRs, low down payment requirements and participation in Housing Finance Agency (HFA) programs, it receives 4.2 out of 5 stars for affordability.

• Interest rates: LowRates.com offers competitive mortgage rates, with APRs slightly below the market average at the time of this review.
• Down payment: LowRates.com offers VA loans with no down payment, FHA loans with a 3.5 percent down payment and conventional loans with just 3 percent down.
• Fees: LowRates.com is not clear about what fees it might charge on its website. You'll need to contact a loan officer for more information about what fees could come with your mortgage.

Availability: 5/5

Its widespread availability and diverse portfolio of home loan products give LowRates.com a perfect 5 out of 5 stars for availability.

• Home loans offered: LowRates.com offers conventional, jumbo, FHA and VA purchase loans, as well as construction loans and investment property loans. The lender also does mortgage refinancing. 
• Footprint: LowRates.com has a wide footprint and is licensed to lend in all U.S. states (besides Georgia and Massachusetts), Puerto Rico and the U.S. Virgin Islands.
• Where to find it: You can visit LowRates.com online, apply over the phone or email or visit a branch of Sun West Mortgage, its parent company.

Borrower experience: 4.6/5

LowRates.com gets high marks for borrower experience due to its rate transparency and multiple contact methods. However, due to unpublished information about its rate lock length, it receives 4.6 out of 5 stars for borrower experience.

• Application and preapproval process: You can apply for a mortgage with LowRates.com through its website or over the phone. Thanks to its 24-hour loan center, the lender boasts fast loan approval times, with an average closing time of as fast as 20 days. 
• Transparency: When it comes to rate transparency, LowRates.com puts a rate quote front and center on its home page. You can check rates for different loan types and submit additional information to get a more accurate quote tailored to you.
• Customer service: You can contact the lender in various ways, such as through an online form or email, over the phone or in person at a branch location, making it convenient to get assistance.

LowRates.com reputation

LowRates.com's parent company, Sun West Mortgage Company, has an A+ rating from the Better Business Bureau, with 4.9 out of 5 stars from nearly 1,000 customers at the time of this review. The lender has been in business for more than 40 years with a reputation for great service. However, the lender is not ranked in J.D. Power's latest mortgage origination satisfaction study.

Refinancing with LowRates.com

LowRates.com offers both rate-and-term and cash-out refinancing options. The lender displays refinance rates on its website so you can easily compare lenders and offers.

How to apply for a mortgage with LowRates.com

You can apply for a mortgage with LowRates.com online or by phone at 844-LOW-RATE. Here are some tips to prepare for the process:

1. Check your credit report. It’s important to check your credit report before your lender does, in case there are errors that could impact not only whether you get preapproved but also your ability to get the best mortgage rate. Knowing your credit score also helps you decide what type of loan to apply for and if you should improve your credit before applying for a mortgage. If your score is in the very low 600s, for instance, an FHA mortgage might be best for you, as its standards are more lenient than those for conventional loans.
2. Gather personal and financial documents. With any lender, you must supply documentation about your income, assets and debts. This includes pay stubs and W-2s and account and loan statements.
3. Provide details about the property. You’ll need to provide the address of the home and submit to a home appraisal. (If you’re refinancing, you might or might not need an appraisal.)

• Methodology

  To determine a mortgage lender’s Bankrate Score, Bankrate rates lenders on a scale of one (1) to five (5) stars — with five (5) the highest rating — based on a variety of factors relating to the lender’s products and services. To assign our ratings, we assessed each mortgage lender across three core areas:

  • Affordability: Annual percentage rate (APR) - 80%; assistance for first-time homebuyers - 10%; down payment - 10%
  • Availability: Loan products - 50%; licensing - 40%; credit score - 10%
  • Borrower experience: Rate transparency - 35%; customer service - 35%; convenience - 20%; rate locks - 10%; reputation (if applicable)

  Learn more about our methodology.