Bankrate Review for 2024

Whether you’re buying a home, paying off a loan or saving up for college, Bankrate offers free tools and resources to help you reach your goals.

Lending flexibility4.7
Ease of application5.0
Online experience4.3
Our Score
Minimum down payment3%
Minimum credit score580
Loan Products Offered

Conventional mortgages
Jumbo mortgages
FHA mortgages
VA mortgages
Refinance loans

Best Features

  • Quotes from multiple lenders
  • Educational material and mortgage calculators
  • Flexible loan options with low down payments available


  • Bankrate isn’t a direct lender
  • No online chat available
  • Some complaints of spam


The Mortgage Reports may be compensated by some of the mortgage lenders we review. However, this does not affect our review process or the ratings lenders receive. All reviews are created independently by our editorial team. We review products and services from partner lenders as well as lenders we do not work with.

Bankrate is a leading aggregator of financial rate information, and it stands out for offering in-depth financial content and breadth of rate data.

If you are looking for a single place to compare rate information, Bankrate provides free rate quotes on more than 300 financial products, including mortgages and home equity loans.

Just be sure to check rates from a few different lenders before buying, so you can be confident about getting the best deal on your mortgage.

Editor's note: Ratings shown in this review are based on the lenders within Bankrate’s network.

Why compare mortgage offers?

A favorable rate can lower your monthly payment, increase borrowing power, and help you pay less interest over the life of the loan. But with so many lending options, where do you start? We’re here to point you to the right place. Read on for an in-depth Bankrate review and discover multiple options for your home mortgage. is a personal finance website that can make shopping for a mortgage loan easier and faster. Comparison shopping is a proven way to get a lower interest rate and ultimately save money. So whether you’re buying a home, refinancing an existing home loan, or borrowing from your equity, Bankrate can connect you with top mortgage lenders.

Find your lowest mortgage rate. Start here

Bankrate review for 2023

Buying a home can offer stability, predictable payments, and an opportunity to build home equity. But before purchasing a home, you’ll need to search for a lender and choose a suitable mortgage program. Here's where our Bankrate review comes in to guide you.

Bankrate isn’t a mortgage lender. Rather, it’s a personal finance website providing resources and tools to compare lenders in your area. For the past four decades, Bankrate has helped countless borrowers make informed lending decisions.

Mortgage loans aren’t one-size-fits-all. Some programs are tailored to first-time homebuyers or veterans, and there’s also the option of different terms (ex. fixed-rate, adjustable-rate, 30-year, 15-year).

The website provides information on current mortgage rates (for both new purchases and refinances), and you can compare rates from over 100 lenders.

Along with rate comparison tools, you’ll also find calculators on Bankrate. Use the mortgage calculator to estimate your monthly payment based on the home price, down payment, mortgage term, and interest rate. Or use the calculator to estimate affordability based on your monthly income and monthly debts.

Bankrate also features a wealth of mortgage-related articles and guides. You can learn about closing costs, different types of mortgages, rate locks, home buying grants, and the underwriting process.

Working with Bankrate

Our Bankrate review revealed that comparing mortgage rates with is simple and only takes a few minutes. Enter your zip code to receive a list of lenders available to you, along with reviews for each lender and their average mortgage rates.

Once you’ve compared the options and narrowed down your choices, you can request a personalized rate quote from one or more lenders. To get a quote you must provide the following information:

  • type of loan (home purchase or refinance)
  • type of property (single-family home, townhouse, condo)
  • how you’ll use the property (primary residence, second home, investment property)
  • how soon you’re looking to purchase
  • income
  • employment status
  • military status
  • contact information

Simply complete the questionnaire and wait for lenders to contact you with quotes. Bankrate can also connect you with a local real estate agent.

Check your home buying options. Start here

Bankrate reviews and ratings is a verified company on Trustpilot with a rating of 3.1 out of 5 (based on 774 reviews).

The website has mostly positive reviews, with many using Bankrate to “request an initial mortgage quote on their terms.” Along with the mortgage comparison tool, other popular features among borrowers included the site’s mortgage calculators and educational guides.

However, some borrowers complained of “spam,” and after requesting a quote they felt overwhelmed and inundated by emails and calls from potential lenders. In addition, some borrowers didn’t like Bankrate’s limited selection of mortgage lenders.

Should you work with Bankrate?

Our Bankrate review uncovered a simple and quick way for you to compare current mortgage rates and find a lender. If you’re buying, refinancing, or considering a home equity solution, you can get rates from top lenders by completing a simple online questionnaire.

Bankrate is also a resource to learn about mortgages and make informed lending decisions. However, it appears that the company only advertises certain lenders on their platform, so the rate quote you receive “might not” be the lowest.

If you use their comparison tool, you might also get quotes from lenders outside of their network. You can then compare these quotes with those you receive from Bankrate’s lenders.


The Mortgage Reports considers multiple factors when reviewing lenders. These factors include credit and down payment requirements, loan types offered, customer service indicators, and availability of online tools. We then use these factors to rank lenders in four categories:

  • Lending flexibility: Includes the number of loan types offered, special programs offered, minimum down payment requirements, and minimum credit score requirements
  • Customer service: Includes CFPB complaints per 1,000 loans and average rating from other top rating services
  • Ease of application: Includes the availability of an online pre-approval or pre-qualification process
  • Online experience: Includes the robustness of the lender’s online offerings, including online chat availability, phone number availability, and learning center/help center availability
Time to make a move? Let us find the right mortgage for you


  1. Average mortgage rates and fees sourced from self-reported data mortgage lenders are required to file under the Home Mortgage Disclosure Act. Rates and fees shown reflect the previous year’s data and may not align with today’s mortgage rates
  2. Monthly principal and interest payments calculated using mortgage calculator. Payments shown are based on a $200,000 loan amount and assume a “very good” credit score. Property taxes and homeowners insurance are not included. Your own monthly payment will vary
  3. Number of mortgage originations for the previous year sourced from self-reported data mortgage lenders are required to file under the Home Mortgage Disclosure Act
  4. CFPB Complaints reflect the number of mortgage origination or closing-related complaints filed with the Consumer Financial Protection Bureau for the previous year
  5. Complaints per 1000 mortgages reflect the number of official complaints filed against a lender with the CFPB for the previous year, compared to the lender’s total number of mortgage originations for the previous year
  6. JD Power Rating reflects the company’s customer satisfaction score according to JD Power’s most recent Primary Mortgage Origination Satisfaction Study. Survey respondents score their lenders in four areas: application/approval process, communication, loan closing, and loan offerings