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Rate Marketplace Mortgage Refinance Review


Rating: 7.5 / 10 (Very good)
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RateMarketplace is a convenient online resource that matches customers with leading lenders from across the nation and presents them with a shortlist of mortgage refinance options with competitive rates. RateMarketplace currently boasts an A rating from the Better Business Bureau.

How is Rate Marketplace rated?

Breakdown

8/10
Loan Options
8/10
Application Process
8/10
Reputation

Overall Rating: 7.5 / 10 (Very good)

Rate Marketplace matches lenders from their pool of nationwide originators with borrowers seeking to refinance their mortgage or take out other types of loans. By comparing various competing offers, customers can make a well-informed decision and get the best rates for their particular situation.

Loan Options

Lender Type
Marketplace
Loans Offered
Rate & Term
Cash-out
Loan Programs
FHA
VA
Conventional
HARP
USDA
Fixed Year Terms
30 Year Fixed
15 Year Fixed
Adjustable Rate Mortgage Terms
10/1 ARM
7/1 ARM
5/1 ARM

Loan Options - 7.5 / 10

Rate Marketplace connects borrowers with the lenders best suited to their needs, and most likely to approve them. Though they have an ample network of lenders nationwide to choose from offering all kinds of loans, Rate Marketplace concentrates on VA, FHA, and standard and cash-out conventional loans, in order to provide the best possible service.

Application Process

Minimum Credit Score
620
FHA Minimum Credit Score
580
Maximum LTV
Varies according to lender.
Closing Time
Varies according to lender.
Waived Fees
Varies according to lender.

Application Process - 7.5 / 10

Each of the lenders which form part of Rate Marketplace's network has specific requirements and steps in its application process. That said, Rate Marketplace does specify that the minimum credit score they will consider for a non-FHA loan is 620 (which is quite generous), whereas FHA loans have a standard minimum score of 580.

Rate Marketplace Reputation

Memberships & Regulatory Info.

Nationwide Mortgage Licensing System ID
1184196
NMLS Collection Date
2017-07-18

Online Reviews

BBB Rating
A-
BBB Negative Reviews
9
Date Collected
2017-07-18

Reputation - 7.5 / 10

Since Rate Marketplace doesn't generate loans in and of itself, borrowers would be best suited verifying their chosen lender's reputation on the Nationwide Mortgage Licensing System. However, it is good to note that Rate Marketplace has zero regulatory actions taken against it.

Contact & Additional Information

Homepage URL
Company Phone
(650) 539-0360
Headquarters Address
1875 S Grant St #950, San Mateo, CA, 94402
Year Founded
2013

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Customer Comments & Reviews

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Sha-Rie R
11/17/2017
This company's telemarketing practices have violated the National Do Not Call registry by repeatedly making unsolicited calls to my cell phone, even after I have asked to have my phone number removed from their database. A very poor business practice indeed. I have never done business with them and certainly never would.



Our Partner
7.5 / 10
  • FREE online mortgage service to match you to the best lenders
  • Rates as low as 2.75% (3.12% APR*) - (5/1 ARM)
  • No SSN Required to be matched
  • Home Purchase, Refinance & Home Equity Products
  • Fixed rate & Adjustable rate loan options available