Credible Review

Credible, among other things, is an online mortgage broker that specializes in simplifying mortgages and refinancing. Founded in 2012 in San Francisco, Credible wants to help borrowers take control of their finances. With this in mind, the company makes it easy to compare prequalified rates from multiple lenders.

Whether you want a rate-and-term or cash-out refinance, Credible can help. In order to see custom rates from several lenders all you need to do is complete an easy 3-minute online application. And if you want assistance, Credible’s licensed loan officers can offer support. Since these loan officers don’t work on commission, you won’t feel pressured.

So, could Credible’s one-stop-shop approach to refinancing be right for you? Let’s take a closer look to help you decide.

Pros and Cons of Credible



What Does Credible Offer?

Credible uses a modern approach to make refinancing your mortgage as easy as humanly possible. With this goal in mind, Credible allows you to compare rates from multiple lenders in one spot. And unlike some competitors, Credible provides an end-to-end experience. So, you can complete everything from origination to closing on Credible.

At a glance, here’s a rundown of what Credible offers:

What To Expect on the Site

Since Credible is all about making refinancing fast and easy, its three-step process is straightforward:

1. Get prequalified rates in 3 minutes: Tell Credible a little bit about you and your home to get accurate prequalified rates. This step involves a soft credit check which doesn’t impact your credit score. Questions include:

2. Compare rates from multiple lenders: View the interest rate and cost breakdown of each loan to choose the best lender and refinance loan for you. If you need help, Credible’s mortgage team doesn’t work on commission, so they’re always on your side.

3. Upload documents on Credible: Provide the required documents for your chosen option. Credible automates the document collection process, keeping you updated on the status of your application every step of the way. Documents that may be required include:


When it comes to loans, Credible gets paid by their partners when referred borrowers ultimately take out a loan with them. So, this means Credible doesn’t charge users to get prequalified rates. While it’s true that Credible’s business model involves getting paid by partners, we should point out that Credible says this doesn’t influence the results they give users.

If you refinance your mortgage, closing costs and other fees associated with refinancing may amount to 2% to 6% of the mortgage. However, this varies by state and lender. Generally speaking, typical fees may include:

The Bottom Line

As convoluted as the world of refinancing can be, Credible proves that it can be simple. Since it quickly finds prequalified rates from multiple lenders, Credible is an especially good option for those who want to make shopping around easy. So, whether you want to lower your rate or shorten your term, Credible can help you find options. And perhaps the best part? Credible provides accurate prequalified rates, not ballpark estimates.

For these reasons, Credible is worth considering as you compare the best mortgage refinance lenders.

This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.