RateZip Review

If the time has come to think about refinancing your mortgage, then you might be asking yourself where to begin. With hundreds of lenders offering a litany of different rates, starting the process can feel overwhelming. Fortunately, RateZip makes it easy to quickly compare and contrast rates without making a commitment. As its website says, RateZip is “a channel for people to compare bank interest rates and programs in an easy and time-saving way.”

With RateZip, you don’t have to go through a complicated process to see what sort of financing options are out there. All you need is basic information and a minute or so to let RateZip’s comparison calculator match you with the most competitive mortgage lenders. So, could RateZip help you find the right refinancing solution? Let’s look at how it works in order to help you make an informed decision.

Pros and Cons of RateZip



What Does RateZip Offer?

RateZip’s a free service you can use to find and compare rates from its network of lenders. While it isn’t a direct mortgage lender, it can help you connect with banks and lenders. RateZip touts itself as a transparent way to gain insight into the marketplace. So, if you’re curious about refinancing, then RateZip is a tool you can use to see rates without formally beginning the refinancing process. Yet, you do also have the option to continue with one of the lenders if you want to.

Since you’ll estimate your credit score and the resale value of your home, RateZip doesn’t need to perform a hard pull on your credit. In other words, using RateZip to find rates and lenders doesn’t affect your credit score. However, continuing the process with your chosen lender will require more specifics about your situation and a hard pull on your credit.

What To Expect on the Site

Although RateZip is free to use, you’ll still need to provide a few pieces of information about yourself and your home before you can get rates and lender matches. On the website, RateZip will ask whether you’re refinancing or purchasing a home. Then, you’ll be asked for your:

After you’ve submitted your answers, RateZip will scour its partners for the best mortgage refinancing rates. Then, you can view the lenders you’ve been matched with and compare their rates. So, RateZip’s website helps you assess where you stand before you move forward with a lender or enter into any sort of negotiation. As RateZip says on its website, “Our goal is to give you as complete a picture as possible and help find the best deal for you.”


Since RateZip isn’t a direct lender, there’s no charge to use the online tool. By matching you with the most competitive lenders, RateZip’s free service allows you to compare rates before you commit to a mortgage refinance. So, it allows you to make informed decisions about your options.

Keep in mind that your actual interest rates and loan terms may vary when you provide your chosen lender with more detailed financial information. And if you move forward with a loan, then that lender may have fees. But RateZip doesn’t charge you anything to use its services.

The Bottom Line

Finding the best mortgage refinancing rates is made easy with RateZip. It’s a free online tool that allows you to compare multiple lenders at a time. So, it can take the tedious work out of finding the best terms for your situation. With a reputation for helping borrowers that dates back to 2007, RateZip offers knowledge that can help save homeowners time and money. If you want to shop around without getting overwhelmed, then RateZip is worth looking at when you compare top mortgage refinance lenders.