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Credible mortgage review

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Compare mortgage rates and no-fee options without lowering your credit score.

Credible helps you easily compare mortgage rates from multiple lenders with personalized prequalified rates. But it’s not a direct lender and its availability and customer support are limited.

Details

Loan types Conventional, Refinance, Jumbo, Home Equiity, FHA, VA, USDA
Minimum credit 620
Origination fee Depends
Other fees Credible doesn’t charge any fees for using its service. Its partners pay Credible a fee, but that doesn’t impact your loan terms, rate or amount.
Available States Not available in: AZ, HI, IN, MO, NV, NY, RI, UT, WA, WV

Pros

  • No fees
  • Soft credit check
  • Positive reputation

Cons

  • Not a direct lender
  • No in-person support
  • Limited availability
Online reviews for Credible are overwhelmingly positive. Customers are thrilled with how fast, convenient and honest Credible’s service is. One online reviewer explained that although Credible wasn’t able to fulfill their needs, the company went above and beyond by recommending a company that could help them.

As of October 2019, Credible has an excellent reputation on TrustPilot with a TrustScore of 4.8 out of 5 based on 2,728 reviews. Credible is also an accredited business with the Better Business Bureau (BBB), which awards it an A+ rating.

What types of loans does Credible offer?

Credible offers access to conventional loans, jumbo loans, FHA loans, VA loans, USDA loans, home equity loans and mortgage refinancing. But since Credible is a marketplace — not a direct lender — the loan provider you’re matched with may have different loan options.

  • Conventional. Both fixed- and adjustable-rate mortgages are available with terms that typically range between 10 and 30 years.
  • Jumbo. Nonconforming loans, or jumbo loans offer home financing options that typically start at $484,350. Borrower eligibility tends to be strict for this type of mortgage, with high minimum credit score and low debt-to-income ratio requirements.
  • FHA. Federal Housing Administration loans are backed by the government and offer low down payment options and more lenient lending criteria.
  • VA. Veterans Affairs loans are available to eligible veterans, service members and their families. These loans typically feature $0 down payment options and require no private mortgage insurance.
  • USDA. Properties located in qualifying rural areas may be eligible for specialty home loans backed by the United States Department of Agriculture.
  • Other loans
    • Home equity loans. Take out a secured loan on your home to convert equity into accessible cash.
    • Mortgage refinancing. Refinancing options are available to those looking for a lower rate, better term or access home equity as cash.

Credible fees

Credible doesn’t charge any fees for using its service. Its partners pay Credible a fee, but that doesn’t impact your loan terms, rate or amount.

The actual fees you pay depend on your loan provider. But most lenders charge origination fees of 2% to 5% of the total loan cost.

During the home loan process, expect to encounter the following closing costs:

  • Appraisal
  • Credit report
  • Document preparation
  • Home inspection
  • Private mortgage insurance
  • State taxes
  • Title charges
  • Taxes

Documentation

To create a Credible profile, you’ll need to enter some basic information like:

  • Your name and address.
  • Estimated property value.
  • Your annual income.
  • Your current rent or mortgage payment.

If you choose to move forward with a home loan option presented to you through Credible, you’ll need to provide additional documentation.

Most lenders ask for the following:

  • Driver’s license, state ID or US passport
  • Pay stubs, W-2 forms and/or 1099 forms
  • Social Security number
  • Personal tax returns from the past two years
  • Profit and loss statements, if self-employed
  • List of your assets including savings, real estate, car titles, retirement accounts and other investment records
  • List of your debts including student loans, credit cards and car loans

Compare Credible loans

Name Product Min. credit score State availability Loans offered
620
Not available in: AZ, HI, IN, MO, NV, NY, RI, UT, WA, WV
Conventional, Refinance, Jumbo, Home Equiity, FHA, VA, USDA
Get personalized rates in minutes and then choose a home loan offer from several top online lenders.
620
Not available in: AZ, HI, IN, MO, NV, NY, RI, UT, WA, WV
Mortgage refinancing
Get personalized rates in minutes and then choose a refinancing loan offer from several top online lenders.

Compare up to 4 providers

How to get a home loan with Credible

  1. Go to Credible’s website and click Let’s get started.
  2. Enter your email address and select the state you plan to purchase or refinance property in. Then, create a password you’ll use to access your Credible account. Click Let’s get started.
  3. Enter the ZIP code of the property you’d like to purchase or refinance. Select the property type and purpose of the property and indicate whether there will be a co-borrower on the loan. Click Save & Continue.
  4. Tell Credible more about your finances, including your employment income. Disclose any additional interest, dividends or capital gains. Click Save & Continue.
  5. Enter your asset information, including checking and savings accounts, retirement accounts and any stocks or bonds you may have. Then, enter your anticipated down payment amount. Click Save & Continue.
  6. Enter your current residential address and any applicable monthly housing payments. Disclose any additional properties you own. Click Save & Continue.
  7. Enter your full name, date of birth and phone number. Indicate your citizenship status and review Credible’s Electronic Disclosure Policy. Click See My Results.

Pros and cons of Credible

Pros

  • No fees. Credible never charges users a fee for its comparison services.
  • Soft credit check. Your credit score will not be affected when comparing loan options through Credible, since it doesn’t perform a hard credit pull.
  • Positive reputation. Credible’s online reputation is nothing short of impressive, with an A+ BBB rating and a 4.7 out of 5 TrustScore.

Cons

  • Not a direct lender. Credible connects you with potential lenders but isn’t a lender itself, which means it can’t negotiate terms or mortgage rates.
  • No in-person support. Since Credible is an online loan marketplace, its customer support is limited to telephone, email and live chat inquiries.
  • Limited availability. Credible is not licensed in the following states: Arizona, Hawaii, Missouri, Nevada, New York, Rhode Island, Utah, Washington and West Virginia.

Compare other mortgage lenders

Name Product Min. credit score State availability Loans offered
620
Not available in: HI, NY
Purchase, Refinance, Jumbo, HELOC, FHA, VA, USDA, Reverse
Loan officers work with you to find the right mortgage to fit your lifestyle and budget.
620
Not available in: HI, MA, NV, NY, ND, UT
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Explore financing options and home shopping services all on the same website.
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Connect with vetted home loan lenders quickly through this online marketplace.
620
Not available in: AZ, HI, IN, MO, NV, NY, RI, UT, WA, WV
Conventional, Refinance, Jumbo, Home Equiity, FHA, VA, USDA
Get personalized rates in minutes and then choose a home loan offer from several top online lenders.
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Flexible options, fast approvals and support online backed by a trusted brand.
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Streamline your mortgage from quote to final payment — all from your computer or phone.
620
Available in all states
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A national lender that offers the full selection of mortgage products.

Compare up to 4 providers

What is Credible?

Credible was founded in San Francisco, California in 2012. It functions as an online marketplace that connects borrowers with potential lenders.

After you submit your Credible profile, you can compare your potential loan options and select the lending product that works best for you. The entire home loan process, from application to closing, can be completed on Credible’s website.

Frequently asked questions

Expert review

Shannon Terrell

Review by


Shannon Terrell is a writer for finder.com who studied communications and English literature at the University of Toronto. On any given day, you can find her researching everything from equine financing and business loans to student debt refinancing and how to start a trust. She loves hot coffee, the smell of fresh books and discovering new ways to save her pennies.

Expert review

Credible helps you narrow down your search for a mortgage lender. You won’t pay a fee for this service and your credit won’t be affected. But Credible isn’t a direct lender, it doesn’t offer any in-person customer support and its service availability is limited.

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