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Credible Mortgage Review

Founded in 2012 by Stephen Dash in San Francisco, United States, Credible was originally set-up as a platform for refinancing student loans.

Since then, Credible offers multiple types of loans that include the organization of student loans, personal loans, and, more recently, mortgage refinancing all of which can be referenced from

I will walk you through who they are and their entire process, giving you a full Credible review.

Table of Contents:

  • About Credible
  • Mortgage Refinancing Options
  • Application Process
  • Qualifications
  • Pros & Cons
  • Company Ratings

Is Credible a Good Loan Company?

If you’re considering a Credible mortgage, it’s important to understand that Credible works as a broker under the NMLS ID# 1681276, not a bank.

This means it does not do any lending or refinancing itself but rather is a loan marketplace with qualified and licensed loan officers.

Credible’s online marketplace gives its customers a platform to compare loan offers from various mortgage lenders.

This can save the prospective real estate investor or home buyer significant amounts of time, money, and frustration. Lenders they vet include:

  • LoanDepot
  • Quicken Loans Mortgage Services
  • Caliber Home Loans
  • Stearns

Credible Mortgage Refinance Options

So, what are your options for a Credible mortgage? As stated earlier, Credible is not a finance company in itself. It is a platform to compare the lending services of other financial institutions.

Currently, Credible does not offer brokerage for home loans. If you’re looking for mortgage refinancing, however, there are several options you can compare through Credible.

Fixed Rates

Fixed-rate borrowing can be a comfortable and secure approach to take. The interest rate will not change over the term of the loan, and your repayments will always be the same.

The downside of fixed rates is that they generally have a higher interest rate than adjustable-rate loans.

Adjustable Rates

Adjustable-rate loans are exactly as they sound. They offer an interest rate that adjusts or fluctuates with the market.

Adjustable-rate mortgages usually start with a low-interest rate, and you may have the option of fixing at a low rate for a set time.

Once this time period is over, the rate will be unpredictable and will fluctuate up or down during the remaining term of the loan.

The adjustable-rate will depend on current market conditions.

If you think you’re in a position to pay off the loan within a short period of time, you will be able to benefit from the lower interest rate offered.

If you end up needing longer to pay back the loan and you end up paying higher interest rates, you will find an increase in your repayments.

If you think this might be the case, then perhaps fixed-rate finance might be a better option.

Cash-Out Refinance

Cash-out refinance is also referred to as remortgaging your home. It can be an ideal solution if you have built equity in your home, and you need a lump sum of cash.

However, with cash-out refinance, you will be removing any equity you have built up in your home.

The process of refinancing also technically pays off your original mortgage in full and presents you with a new mortgage plus the extra cashback you were looking for.

The new mortgage will be subject to current interest rates, and this will be reflected in your repayments.

Compare Rates Now

Credible Mortgage Application Process

The application process for a Credible mortgage is primarily online. It usually requires very little paperwork and no documents will be requested until the final stages, at which point, they may request some closing documents.

Unlike other mortgage brokers, Credible will obtain the right amount of your personal information to give you a quote, rather than just relying on generic information in the early stages.

Pre-qualification can be done online in as little as 3 minutes, and no paperwork will be required at this early stage.

Be sure to remember your pre-qualified rates can change at any time and are not guaranteed. Any information submitted to prequalify will not affect your credit score.

Unlike other services, Credible does not run a hard credit check at the pre-qualification stage in the process. A hard credit check can ding your credit report.

Credible runs a soft credit check or soft credit pull in the early stages, thereby not affecting your credit score. A full credit check will then be run following loan approval, and this does affect your credit score for a limited time. However, it is a necessary part of any lending or refinancing process.

Credible will not charge you an origination fee for using their service. They instead have fee arrangements with their partner lenders, and this will not impact on your loan terms.

Unlike some other brokers, you can stay with Credible until almost the final stage in the process, allowing you to track your application easily online.

Benefits of Using Credible

  • No hard credit checks
  • A speedy online application process
  • Submit all your documents online.
  • A time-saving way to shop around
  • No fee

Credible Mortgage Refinance Qualifications

As with most lenders, Credible requires a good credit score and a debt-to-income ratio of less than 45% to be considered for finance.

Here are three major factors banks look at before assigning a loan:

  • Income: This includes items like your pay stubs, tax documents, and bank statements
  • Credit History: Make sure you don’t have maxed out credit cards and negative marks on your credit report
  • Loan Value and Location: Depending on your loan value your monthly payments, down payments, mortgage insurance, and closing cost fees will vary.

Pros & Cons

If you’re looking for ways to refinance your mortgage, Credible is an extremely useful tool to compare lending terms and interest rates. High customer ratings and a user-friendly platform offer a modern and effective way to apply for refinancing.


  • No “hard” credit check to affect your credit score.
  • Preapproval in 3 minutes.
  • Compare multiple lenders with minimal effort.
  • No fees.


  • Credible is not a lender but a broker. Currently, it only offers mortgage refinancing and does not provide home loans. This would, therefore, be considered a disadvantage if you’re looking for a home loan.

Company Ratings

Credible originally set the standard for student loan refinancing. It maintained its reputation and carried over their high standards into their more recent launch of mortgage refinance products in 2018.

Ratings for Credible are at the top end of the scale, with a five-star rating on Trustpilot from 1,787 reviews.

Ratings from other platforms back this up with an A+ rating from the Better Business Bureau and 4-star reviews from The Credit Review and The College Investor.

Credible has been rated on several different elements of their service, and the results appear to be consistently positive.

  • Commissions and Fees: 100
  • Ease of Use: 100
  • Customer Service: 100
  • Loan Options: 70
  • Features: 90
Credible Mortgage