1. Home
  2. Mortgage Refinance
  3. FreeRateUpdate Review

Rating: 9.2 / 10 (Excellent)
Disclosure: We receive advertising revenue from some partners. Learn more.
Founded in Nevada in 2008, FreeRateUpdate is an online aggregator based in Chadds Ford, Pennsylvania that matches mortgage loan lenders to applicants according to individual needs. The company offers mortgage purchasing and refinancing services and daily updates on mortgage rates across the USA.
 
View Top 10 List

How Do We Rate FreeRateUpdate?

Breakdown

4.8/5
Loan Variety
4.5/5
Ease of Process
4.5/5
Customer Service and Reputation
4.5/5
Discounts and fees

Our Overall Rating: 4.6 / 5 (Excellent)

FreeRateUpdate is an accessible online aggregator that matches customers to the most suitable mortgage refinance companies after they complete a quick online application. The aggregator’s daily updates make it ideal for customers at any stage of the refinancing process. FreeRateUpdates does not ask you for your SSN or FICO number before they match you with one of their approved lenders. They offer connections to a wide variety of mortgage refinance options and provide daily updates on mortgage rates across the USA. FreeRateUpdate is not a mortgage refinancer itself. The company also provides lead services to brokers and lenders.

Loan Options

Loans Offered
Rate & Term
Cash-out
Cash-in
Refinance
Loan Programs
FHA
VA
Conventional
HARP
Jumbo

Loan Variety - 4.8 / 5

The company provides many refinancing loan types including rate & term, cash-out, and cash-in loans. Their list of approved lenders and their updated mortgage rate roadmap work together with the online application to provide customers with a choice between various lenders and their offers. As an aggregator, FreeRateUpdate only provides estimates for mortgage rates and loans. To get precise rates, customers must contact lenders directly.

Application Process

Minimum Credit Score
0
FHA Minimum Credit Score
0

Ease of Process - 4.5 / 5

FreeRateUpdate’s easy-to-use website allows customers to find suitable lenders immediately after completing a quick application. Customers receive an online quote for their mortgage refinancing from any one of the company’s approved lenders without having to provide SSN or FICO scores. The website itself, while mainly focused on the mortgage rate roadmap, lender reviews, and daily rates, does offer lead services to brokers and lenders and is very thorough in providing appropriate and accurate information to consumers. They offer 24-hour customer support via telephone and e-mail.

FreeRateUpdate Reputation

Memberships & Regulatory Info.

Nationwide Mortgage Licensing System ID
1154338
Nationwide Mortgage Regulatory Actions
0
NMLS Collection Date
2019-12-19
CFPB Total Mortgage Complaints
0
CFPB Collection Date
2019-12-19

Online Reviews

Trustpilot Trustscore
4.3
BBB Rating
A+
BBB Positive Reviews
1
BBB Negative Reviews
4
Date Collected
2019-12-19

Customer Service and Reputation - 4.5 / 5

FreeRateUpdate has no complaints filed in the Nationwide Mortgage Licensing System database. TrustPilot and the Better Business Bureau have both awarded high marks to the company. Despite some valid customer complaints about some of their approved lenders’ alleged unfair business practices, FreeRateUpdate itself is considered a reputable company.

Contact & Additional Information

Homepage URL
https://www.freerateupdate.com/index
Company Phone
(844) 326-3442
Headquarters Address
5 Christy Drive, Suite 204, Chadds Ford, PA, 19317
Mailing Address
5 Christy Drive, Suite 204, Chadds Ford, PA, 19317
Year Founded
2008

Disclosure

FreeRateUpdate has daily updates on their disclosure information.
Top Rated
Our Partner
(866) 501-2397
VIEW RATES

  • Compare options in minutes
  • Secure Process & personalized recommendations
  • Explore mortgage offers on LendingTree's network
  • Terms and conditions apply 
READ FULL REVIEW >

Related to Mortgage Refinance

Top Articles