A simple, transparent process that puts you in control of finding the best mortgage rate.
Submit loan details anonymously
Licensed officers compete to offer best rates
Review offers and ratings side-by-side
Accept a bid, then message the MLO to proceed
Fill out our simple online form with your loan details. Your personal information stays completely anonymous until you choose to reveal it to a lender.
Your Privacy is Protected
Your contact info is never automatically shared - you choose what to share via messaging
Licensed Mortgage Loan Officers (MLOs) in your state will see your loan request and compete to offer you the best rates and terms. MLOs can submit up to 2 rate options per bid (e.g., a 30-year fixed and a 5/6 ARM), giving you more choices to compare. Your request is active for 3 days.
| Bid Component | Description | Why It Matters |
|---|---|---|
| Interest Rate | The annual rate charged on your loan | Directly impacts monthly payment |
| APR | Annual Percentage Rate including fees | True cost of borrowing over time |
| Closing Costs | Fees to close the loan | Upfront cash needed at closing |
| Lock Period | Days the rate is guaranteed | Protection against rate increases |
| Loan Program | Type of loan (Conventional, FHA, etc.) | Different requirements & benefits |
| Multiple Options | Up to 2 rate options per bid (e.g., Fixed + ARM) | More choices to find your best fit |
24-48
Hours to receive first bids
3-10
Average bids per request
3
Days request stays active
Tip: Always check an MLO's star rating and reviews before accepting a bid. While we cannot prevent MLOs from bidding with unrealistic rates, those who fail to deliver on their promises will receive poor ratings from borrowers, helping you identify trustworthy professionals.
Our comparison tools make it easy to evaluate each offer. View all bids in one place, check MLO ratings and reviews, and understand the total cost of each option.
| MLO | Rate | APR | Monthly P&I | Closing Costs | Rating |
|---|---|---|---|---|---|
| John S. | 6.25% | 6.45% | $2,156 | $8,500 | 4.9 ★ |
| Sarah M. | 6.375% | 6.52% | $2,178 | $7,200 | 4.8 ★ |
| Mike R. | 6.5% | 6.65% | $2,212 | $6,000 | 4.7 ★ |
Tip: Save favorite MLOs with the heart icon for easy comparison later!
When you find the right offer, accept the bid to connect directly with the MLO. You can accept up to 3 bids to compare final offers before making your decision.
Direct messaging is enabled
Chat securely through our platform with the MLO
Share your contact info when ready
You control when and what personal info to share via messages
MLO begins the loan process
They'll reach out to start your application
Track progress in your dashboard
Monitor status updates throughout the process
You Can Accept Up to 3 Bids
Compare final offers from multiple MLOs before choosing who to work with. This gives you leverage to negotiate the best terms.
Submit your loan request (5-10 minutes)
Receive first bids within 24-48 hours
Compare offers and review MLO profiles
Accept your preferred bid(s)
Work with your chosen MLO to close
Join thousands of borrowers who have found better rates with BidYourLoan.