Credible Mortgage Rates Review

Credible works with a half dozen lenders, so a wide variety of loan options are available through the its mortgage marketplace, from conforming fixed-rate and adjustable-rate mortgage (ARM) loans to jumbo loans.

Four of the nation’s top 10 mortgage lenders compete through the Credible mortgage marketplace: Quicken Loans, loanDepot, Caliber Home Loans, and United Wholesale.

It takes about 3 minutes to fill out Credible’s rate request form. Qualified borrowers get a dashboard displaying the prequalified rates, terms, and fees available to them from multiple lenders. These rates are not guaranteed to be the rates you're finally offered, but they give customers a great starting point for comparison shopping. Loan offers are finalized when you actually apply for a loan and your lender does a hard credit check on you.

If you pick one of the loan options Credible finds for you, Credible will take you through the rest of its streamlined, digital application process, asking only questions that are relevant to your situation.

Disclosure: Requesting prequalified rates on Credible is free and doesn't affect your credit score. However, applying for or closing a loan will involve a hard credit pull that impacts your credit score and closing a loan will result in costs to you.

Prequalified rates are based on the information you provide and a soft credit inquiry. Receiving prequalified rates does not guarantee that the Lender will extend you an offer of credit. You are not yet approved for a loan or a specific rate. All credit decisions, including loan approval, if any, are determined by Lenders, in their sole discretion. Rates and terms are subject to change without notice. Rates from Lenders may differ from prequalified rates due to factors which may include, but are not limited to: (i) changes in your personal credit circumstances; (ii) additional information in your hard credit pull and/or additional information you provide (or are unable to provide) to the Lender during the underwriting process; and/or (iii) changes in APRs (e.g., an increase in the rate index between the time of prequalification and the time of application or loan closing. (Or, if the loan option is a variable rate loan, then the interest rate index used to set the APR is subject to increases or decreases at any time). Lenders reserve the right to change or withdraw the prequalified rates at any time.

Required documentation such as pay records, bank statements and tax documents can be collected automatically in digital form from providers. The only required paper documents are a few disclosures, and documents required at closing.

It's important to remember that Credible is a marketplace, not a lending institution. The company works with multiple lenders to bring you a range of loan possibilities. Lenders set their own individual qualification requirements related to income, credit score, and other factors.

Disclosure: Prequalified rates are based on the information you provide and a soft credit inquiry. Requesting prequalified rates on Credible is free and doesn't affect your credit score. However, applying for or closing a loan will involve a hard credit pull that impacts your credit score and closing a loan will result in costs to you.

Receiving prequalified rates does not guarantee that the Lender will extend you an offer of credit. You are not yet approved for a loan or a specific rate. All credit decisions, including loan approval, if any, are determined by Lenders, in their sole discretion. Lenders will conduct a hard credit pull when you submit your application. Hard credit pulls will have an impact on your credit score. Rates and terms are subject to change without notice. Rates from Lenders may differ from prequalified rates due to factors which may include, but are not limited to: (i) changes in your personal credit circumstances; (ii) additional information in your hard credit pull and/or additional information you provide (or are unable to provide) to the Lender during the underwriting process; and/or (iii) changes in APRs (e.g., an increase in the rate index between the time of prequalification and the time of application or loan closing. (Or, if the loan option is a variable rate loan, then the interest rate index used to set the APR is subject to increases or decreases at any time). Lenders reserve the right to change or withdraw the prequalified rates at any time.

Credible’s marketplaces for mortgages, personal loans, student loans, and student loan refinancing have facilitated more than $1.6 billion in loans, and have a reputation for transparency throughout the industry.

Credible only partners with lenders that meet its high standards, and provides consumers with unbiased, neutral information they need to choose the lender that’s right for them.