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Lower Mortgage Review 2026
Last updated on February 11, 2026
Written byÂ
Lead Writer & Content StrategistWritten byÂ
Lead Writer & Content StrategistMany 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.
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- 50+ mortgage lenders reviewed and rated by our team of experts.
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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 as well as HELOCs.Â
Jump to:Full Review
Lower: NMLS#1124061
Min. credit score
620
Min. down payment
3%
Loan types and products
FHA, Purchase, Refinance, Home Equity
Pros
- Reported average time to close is twice as fast as the industry average.Â
- Has mortgage options for borrowers with credit scores below 600.Â
- Offers a wide variety of mortgages, including harder-to-find loan types.
Cons
- Sample mortgage rates are not customizable.Â
- Average origination fees are high compared to other lenders.Â
- 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 borrowersÂ
- Reverse mortgages
- Professional loans
- ITIN loans
- Construction loans
- Non-QM loans
đź’µ Home equity
- HELOCs
- Home equity loans
- Cash-out refinancing
» MORE: How to choose a mortgage lender
Lower special offers and discounts
In addition to a wide range of loan types, Lower has some notable selling points. This one stood out in our research:
- Home buyers who get a purchase loan from Lower can refinance later without lender fees. (It’s always smart to get more than one mortgage 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 30% of Lower’s total originations in 2024.
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 9,500 reviews.
Lower mortgage customer service options
Here’s how you can get in touch with Lower. The lender reported that live chat support will become available in early 2026, but as of February, we are not seeing a chat option on the lender’s website yet.
Ways to reach Lower
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Phone support . . . . . . . . . âś…
Mobile app . . . . . . . . . . . . đźš«
Online chat (bot) . . . . . . . đźš«
Online chat (human) . . . . đźš«
🤓 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: 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.