LowerMyBills.com Review – A Mortgage Comparison Resource
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Whether you’re looking for information about deferring your credit card payments or which mortgage types offer the lowest monthly payments, LowerMyBills.com can be a valuable resource.
9/10
Cost
9/10
Features
9/10
Services
8/10
Ease of use
9/10
Buying a house is a major life event for everyone. Just like you wouldn't choose your stock broker on a whim, you shouldn't select a mortgage lender without comparing your options first. And if you have bad credit, finding the right lender becomes a whole process. Wouldn’t it be nice if you could find a single place that can help you navigate these decisions?
If you’re nodding your head right now, you may want to see what LowerMyBills.com offers.
In this article
What is LowerMyBills.com?
In a nutshell, LowerMyBills.com helps you save money on mortgage payments. You can use the website to compare mortgage lenders. By doing this, you may be able to find information and service providers that can help you lower your monthly payments.
American Homeowners Could Save Big With The Help Of U.S. Mortgage Experts
If you've owned your home for 3+ years, you may be able to get cash out of your home and slash your monthly bills. It costs $0 to get connected with an expert and check your options. You'll be shocked to see how much you could save.
How does LowerMyBills.com work?
LowerMyBills.com is not a lender or an insurance company, rather, it is an online service where you can search and compare mortgage lenders. The website has what seems to be an endless amount of information, and that can get overwhelming. The best way to approach this website is to do so with a goal in mind.
If you’re preparing to purchase your first home, you may want to look at the best home loan option. Or, if you’re curious about whether you could lower your mortgage payment by refinancing, you could look at the best refinance mortgage lenders. Let’s say that, in this case, you’re looking into refinancing your mortgage.
When you click on the mortgage refinance option, you’ll be brought to a page that starts with a prompt.
If you’re ready to get specific about your options, click on the Find a lender button at the top of the page. This will take you to LowerMyBills.com’s featured form.
You’ll start by selecting your home type as well as your credit type. In this case, credit type refers to your credit score, and you’ll pick the option that best reflects your current score.
Next, you’ll pick the loan type you want to get more information about. You’ll also input your home zip code.
The next page will take you through more detailed questions about your home.
After inputting these answers, you can click on the calculate button. After that, you’ll be taken to a final screen where you input personal details about yourself. This information is needed to get you accurate information about your refinancing options.
After submitting your information, you’ll be brought to a page with a list of possible lenders. You can click on any of the “get quote” buttons to get a quote from your lender of choice.
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How much does Lowermybills.com cost?
LowerMyBills.com is a completely free service. However, you should be aware that fees may be associated with the products recommended on the website. For example, mortgage providers may charge a service fee.
Lowermybills.com features
This website is full of information and features you can take advantage of, no matter which type of financial product you’re interested in.
Thorough information
LowerMyBills.com is a very large website with a lot of information. You can probably find an article for almost any mortgage-related topic that you could imagine. Even if you’re not looking to take out a loan or refinance your mortgage, there is information contained within this website that can help answer questions that you may not even know that you have yet.
Mortgage calculator
This tool lets you find the right mortgage by calculating your monthly payment, interest rate, APR, and total interest. To use it, all you need to do is enter the loan amount you want to calculate. Based on the information you enter, the calculator will suggest mortgage options and the monthly payments and total cost of each option. You can also review the pros and cons of each mortgage type to help you decide.
Refinance calculator
If you already own your home and want to consider refinancing, you can use this tool to calculate a possible new monthly payment, interest rate, and potential total savings.
Mortgage advisor
The mortgage advisor tool is another resource that can be useful for homeowners that may be considering refinancing. It aims to provide customized recommendations based on your current mortgage and financial goals. If the mortgage advisor thinks you can find a loan option that better suits your situation, it will provide a detailed recommendation on the mortgage that makes the most sense for you.
Mortgage comparison
This tool can help you understand the different mortgage options by comparing them side-by-side using simple criteria such as whether it offers a lower payment and if you’ll pay less interest over time with that loan type. The tool is simple to use — all you do is select the mortgage types that are the most interesting to you and review the comparison table.
Debt-to-income calculator
Your is a major factor that lenders may consider when reviewing your credit report and offering you a mortgage. Simply add all of your monthly debts and your gross monthly income. The calculator will provide you with your debt-to-income ratio based on your provided information.
Related:
Mortgage analysis
This tool grades your current mortgage against how well it meets your financial goals. To use the tool, you start by entering your mortgage goal, with goals including lowering your interest rate, lowering your monthly payment, or cashing out your mortgage. Then you’ll enter your current mortgage loan amount, home value, monthly payment, and interest rate. The tool will analyze your situation based on this information and grade it based on today's mortgage options.
Retirement Calculator
Who is LowerMyBills.com best for?
There really isn’t much of a downside to using lowermybills.com, but there are some people that may be able to benefit from it more than others.
Anyone considering refinancing their mortgage
While this company offers much more than mortgage information, it is a good place to be if you’re interested in learning more about refinancing your mortgage. You can take advantage of some of the mortgage tools to help you evaluate your current mortgage and whether refinancing can help you save in the long run. You’ll also be able to look at current mortgage rates and compare refinancing options to help narrow down your search. Then when you’re ready, you can fill out the form and find mortgage companies such as Quicken Loans that you may want to get quotes from.
People who are interested in learning more about financial topics
Whether you’re wondering about car insurance, the best travel rewards credit cards, or which mortgage type offers the lowest interest rates, you’ll probably be able to learn something from this company.
People who are searching for a new financial service or product
Are you thinking about opening a new bank account? Wondering how to start investing your money? Or maybe you’re looking into getting a small business loan. Lowermybills.com has information and “best of” roundups for all of these topics and more.
Who shouldn’t use LowerMyBills.com?
While using the website certainly doesn’t hurt, there are some categories of people that may not be able to get what they’re looking for here.
People who are looking for immediate answers
Lowermybills.com primarily acts as an online resource. If you already know what you want and you just need to start getting some numbers together, you may not be able to find what you’re looking for here. To get immediate quotes or access to someone that can answer your questions about mortgages or refinance loans, you may be better off going directly to a lender’s website.
People who want personal recommendations
If you’re in the market for a new financial product, it’s a good idea to look into reviews and recommendations. Lowermybills.com can give you general recommendations and information, but if you’re looking for customized service and personal recommendations, you may be better off speaking to a financial advisor and/or local friends and family.
American Homeowners Could Save Big With The Help Of U.S. Mortgage Experts
If you've owned your home for 3+ years, you may be able to get cash out of your home and slash your monthly bills. It costs $0 to get connected with an expert and check your options. You'll be shocked to see how much you could save.
Pros and cons
Pros
- LowerMyBills.com is a free service. You don’t need to pay fees to use the website’s tools or resources or access the articles.
- LowerMyBills.com is full of information. It’s a great resource with articles that touch on important topics affecting the home-buying process.
Cons
- Your recommendations may not include local lenders. LowerMyBills.com provides recommendations using its network of partners. This means that it might not consider local lenders, such as credit unions, when giving you suggestions.
- The website can be overwhelming. There is a lot of information to sift through, and it can take some time and effort to find answers to what you’re looking for.
LowerMyBills.com vs. competitors
Company | Cost | Topics covered | Direct quotes? |
LowerMyBills.com | $0 | Mortgage, insurance, loans, credit cards, banking, home services, personal finance | No |
Bankrate | $0 | Mortgages, banking, credit cards, loans, investing, home equity, insurance, retirement | No |
LendingTree | $0 | Home loans, auto loans, personal loans, business loans, student loans, credit cards, banking, personal finance | No |
Bankrate
Bankrate offers an intuitive online experience to help you navigate your financial journey. You can use the website to compare interest rates and use over 200 financial calculators to help you make informed financial decisions. Signing up for a free Bankrate account gives you access to recommended tools based on your financial interests, expert personal finance advice, and a curated financial daily news feed. In addition to these resources, Bankrate offers articles based on popular financial topics and recent news events.
LendingTree
LendingTree aims to offer a simple process to help borrowers find their best loan. When you fill out a LendingTree form about the kind of loan you want or need, your request will be sent to its lender network. You’ll then receive phone calls and emails from interested lenders and other financial services to determine how they can help you. LendingTree can help you compare the offers you receive and take the next step if you decide you want to apply based on any of your offers. The website also offers a resource center that allows you to check your credit score for free, read ratings and reviews, and evaluate mortgage rates and your estimated monthly payment.
FAQs
Is LowerMyBills.com a scam?
LowerMyBills.com is a legit resource that can help connect you with opportunities to save money and lower your monthly payments.
Is LowerMyBills.com BBB accredited?
Yes, LowerMyBills.com has received a BBB accreditation and has an A+ rating.
American Homeowners Could Save Big With The Help Of U.S. Mortgage Experts
If you've owned your home for 3+ years, you may be able to get cash out of your home and slash your monthly bills. It costs $0 to get connected with an expert and check your options. You'll be shocked to see how much you could save.
Is LowerMyBills.com legit?
LowerMyBills.com can be a useful resource for anyone learning more about financial topics. It’s also a great resource if you’re looking to evaluate your financial goals and the mortgage or other loan products you currently have.
Since this is a free resource, there aren’t many people that couldn’t benefit from this website. The only time you would need to provide personal information is if a piece of information is needed to help you use the several calculators and tools on the website.
Whether you’re looking for information about deferring your credit card payments or which mortgage types offer the lowest monthly payments, this website can be a valuable resource.
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Writer
Ashley Hart is a lead copywriter and digital marketing expert covering finance, law, real estate, music, entertainment, health and wellness.
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