Advertiser disclosure
Lower Mortgage Review 2026
Last updated on June 12, 2026
Written by
Lead Writer & Content StrategistCo-written by
Contributing EditorWritten by
Lead Writer & Content StrategistCo-written by
Contributing EditorMany or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
Why trust NerdWallet
Why trust NerdWallet
- 50+ mortgage lenders reviewed and rated by our team of experts.
- 40+ years of combined experience covering mortgages and financial topics.
- Objective, comprehensive star rating system assessing 120+ categories and 5,000+ data points.
- Governed by NerdWallet's strict guidelines for editorial integrity.
Our Take
4.0
Home loans overall
NerdWallet rating
The Nerdy headline:
Lower stands out for its “refi for life” offer: customers who get a purchase mortgage with Lower will have all lender fees covered for future refinances. However, you may still have to pay third-party fees, including title and appraisal costs. Lower offers a wide range of loan types, including construction loans and mortgages for self-employed borrowers. Most likely to appeal to home buyers looking to marry the home and date the rate.
Jump to:Full Review
Lower: NMLS#1124061
Min. credit score
N/A
Min. down payment
3%
Loan types and products
FHA, Purchase, Refinance, Home Equity
Pros
- Relatively low credit score requirements across many of its loan types.
- Offers a wide variety of mortgages, including harder-to-find loan types.
- No lending fees on future refinances with Lower.
Cons
- Can't see personalized rates without providing contact information.
- Average APRs are high compared to other lenders.
- No mobile app.
Full Review
At a glance: Lower mortgage loan options
Lower, LLC is a nonbank lender based in Columbia, Maryland. Lower makes loans in 47 states and Washington, D.C. Mortgages are not available in Hawaii, New York and Vermont.
Lower offers most major loan types, as well as specialty and harder-to-find loans. Borrowers who need flexibility for alternative approval documentation will find several options.
🏠 Common mortgages
- Conventional loans (fixed-rate and adjustable)
- Rate-and-term refinancing
- Jumbo loans
- FHA loans
- VA loans
🔑 Specialty loans
- Renovation loans
- USDA loans
- Interest-only loans
- Nonwarrantable condo loans
- Mortgages for second homes
- Mortgages for self-employed borrowers
- Reverse mortgages
- Professional loans
- ITIN loans
- Construction loans
- Non-QM loans
💵 Home equity
- HELOCs
- Home equity loans
- Cash-out refinancing
Lower special offers and discounts
In addition to a wide range of loan types, home buyers who get a purchase loan from Lower can refinance with the lender later without lender fees. This encompasses origination, underwriting, processing and administrative fees. (It’s always smart to get more than one refinance offer to find the best deal, even when a lender offers a perk like “free” refi.)
What mortgages does Lower specialize in?
A lender’s experience with your loan type can make a big difference. We looked at the latest federal data to find the types of mortgages Lower handles most often.
Conventional is the most common, but Lower also originates a lot of government-backed loans, including some USDA loans. FHA loans accounted for 28% of Lower’s total originations in 2024.
How we score Lower's home loans
Like to read the fine print? We do, too. Each year, NerdWallet writers and editors review the latest data and research on mortgage lenders, including federal data, and use a consistent method to score them based on what matters most to borrowers.
Lower earned a 4-star home loans overall rating from NerdWallet. Here’s how that score breaks down across our five weighted subcategories.
Fair
Rates and fees (30%)
Rates and fees determine how much a loan will cost you overall. NerdWallet reviews the latest federal data to score each lender’s average APR spread — a measure that combines interest rates and fees. A higher score means lower typical costs compared to other lenders.
Average
Product accessibility (20%)
We evaluate how widely available a lender’s products are across the U.S. and how accessible they are to different financial profiles. A higher score means broader availability and more flexible requirements. A lower score means fewer options or stricter requirements.
Fair
Customer experience (20%)
We evaluate customer experience by testing and reviewing features like the online application, mobile app, and availability of phone or chat support. A higher score means a smoother, more convenient experience and easier access to help. A lower score means more friction or fewer support options.
Good
Loan variety (15%)
We evaluate loan variety based on the range of home loan types a lender offers. A higher score means more options, while a lower score means a more limited selection.
Good
Rate transparency (15%)
We review how clearly lenders share rate information on their websites, including sample rates and tools to estimate personalized rates. A higher score means it’s easy to find clear, comprehensive details and compare rates. A lower score means less information is available, often requiring you to contact the lender.
🤓
NerdWallet’s ratings are objective and well-researched (we have the spreadsheets to prove it). But choosing a mortgage lender isn’t just about a star rating or a score breakdown. It’s also about finding the right lender for your unique situation. So yes: you can learn a lot from how the mortgage Nerds scored Lower's home loans. But you’re the expert when it comes to the features of your own best-match mortgage lender.Nerdy Tip
Lower mortgage reputation and customer experience
NerdWallet’s star ratings look at objective factors like rates, fees and loan options. To give you a sense of what the borrower experience is really like, we pulled the latest customer satisfaction scores from Zillow, and we contacted the lender’s customer support.
Zillow Mortgage Lender Customer Rating
4.93
out of 5
Excellent rating as of date of publication. Rating reflects more than 9,600 reviews.
Lower mortgage customer service options
Here’s how you can get in touch with Lower. The lender reported that live chat support would be available in early 2026, but as of June, we are not seeing a chat option on the lender’s website yet.
Ways to reach Lower
Physical branches . . . . . . ✅
Phone support . . . . . . . . . ✅
Mobile app . . . . . . . . . . . . 🚫
Online chat (bot) . . . . . . . 🚫
Online chat (human) . . . . 🚫
🤓 Our Nerds say... call, don’t text
Taylor Getler, lead writer, mortgages
Lower lists several different phone numbers. One is for borrowers looking to apply for a mortgage, and two are for customers who need support — one to call, and another to text.
When we called the line for borrowers looking to apply, we were immediately connected with an agent who was able to answer our questions. We were never placed on hold.
When we tried to text the support line, we were sent an automated message that someone would be in contact soon. It took about 30 minutes for a live agent to respond.
» MORE: How to apply for a mortgage
Alternatives to Lower mortgage loans
Our biggest tip: Get offers from at least three different mortgage lenders. Comparison shopping can save you thousands of dollars. You can get rate quotes yourself, or work with a mortgage broker to shop around on your behalf.
If you’re looking for a less common home loan, you may also be interested in PrimeLending or New American Funding.
If you want a lender with options tailored to first-time buyers, consider Bank of America, which offers lender credits up to $7,500 and down payment grants up to 3% of the purchase price (maximum $10,000).
» MORE: Best mortgage lenders
More from NerdWallet
Methodology
NerdWallet rates mortgage lenders based on what matters most to borrowers: rates and fees, product accessibility, customer experience, rate transparency and the range of loan options.
We review more than 40 lenders and score them using a weighted system that prioritizes affordability and a smooth borrowing experience. Lenders earn higher scores for offering lower borrowing costs, making loans widely available, clearly displaying rate information and supporting borrowers from application through closing.
We use a mix of lender-provided information, publicly available data and our own research and analysis to evaluate each lender. Recent regulatory actions may affect a lender’s score.