LowerMyBills Review

LowerMyBills.com is a BBB-accredited online service people can use to compare service providers across multiple categories, including mortgage, credit cards, insurance, loans, home services and personal finance.

More specifically relating to mortgage refinancing, LowerMyBills is not a direct provider of mortgage refinancing itself, but rather acts as an online marketplace that people can use to calculate, compare and analyze different home loan and refinance options for free from more than 500 lenders.

What Services Does LowerMyBills Offer?

Two important things to understand upfront about LowerMyBills are that 1) the company is not a direct lender or broker itself and 2) it can’t prequalify you with any lender.

That said, LowerMyBills offers a number of tools you can use to not only connect with top lenders but find out which refinance programs and mortgage rates make the most sense for your specific situation.

The most relevant of these tools, as they relate to mortgage refinancing, is the Refinance Calculator, which allows you to see how refinancing could affect your monthly payments and APR, helping you to understand if refinancing would actually help you save money.

If through this calculator you find that refinancing would indeed save you money, you can then fill out a quick application, requiring only very basic details about yourself and your situation, to connect with actual lenders providing what you need.

In addition to these two services, LowerMyBills also provides the following tools:

All of these tools make LowerMyBills ideal for people new to mortgage loans, those who want an easy way to see their most suitable options, and those who simply want a guiding hand along the process.

What Types of Loans and Terms Does LowerMyBills Offer?

As we mentioned above, LowerMyBills is not a direct lender itself; it acts solely as an educational platform and online marketplace to both inform you about the loan selection process and connect you with actual lenders. Therefore, there are no specific loan types or terms stated.

However, you can learn about all the different types of loans (Fixed Rated Mortgage Refinance, Adjustable Rate Mortgage Refinance, etc.) and associated terms through the vast amount of educational material on their website—all of which is conveniently categorized by credit type (mortgage, credit card, etc..)

In terms of what loan types and terms you can expect to find through their network of lenders, offerings will vary from lender to lender. Although given the size of the LowerMyBills lender network—consisting of over 500 lenders (including top lenders like Quicken Loans)—it’s safe to assume that you can expect to find most standard loan types and terms.

What Does LowerMyBills’ Application Process Look Like?

To see what refinancing options are available to you in LowerMyBills’ network, you’ll need to fill out a quick online application. This application takes only a few minutes to complete and asks for basic information relating to your property and personal situation, including answers to such questions as:

After providing this information, as well as basic contact information such as your phone number and email, LowerMyBills will direct you to a screen showing your best lender options based on your situation and your goals. From here, it’s up to you to follow up with any of the specific lenders presented to you.

Depending on which lenders you pursue, you may be required to provide more information after leaving LowerMyBills’ application portal.


While not a direct lender itself, LowerMyBills offers a powerful educational service you can use to understand the best refinancing options available to you based on your specific situation and goals. It accomplishes this through offering a vast financial knowledge base, suite of tools and lender marketplace—all of which are completely free to use.

Their lender marketplace—which consists of over 500 lenders—allows you to be matched quickly with top lenders offering refinancing options suited to your needs. To access this marketplace, you simply need to fill out a 5-minute online application asking about your property, financial situation, and refinancing goals.

If you’re new to mortgage refinancing, or simply want to know the best options available to you as quickly as possible, LowerMyBills is the perfect springboard to help launch you toward refinancing your mortgage the right way.