Frequently Asked Questions

What is Compare Smart?
Compare Smart is an easy to use website that allows you, the consumer, to locate and contact lenders or brokers interested in supplying your loan. You fill out the mortgage request, and we will automatically put you in touch with up to four lenders or brokers who are looking to finance your type of loan.

Why should I use CompareSmart?
The mortgage industry is extremely competitive, and it's important to shop around to get the best rate. By using CompareSmart, you have just one form to fill out to receive up to four quotes from different lenders and brokers in our network. Not only does this save you the time and legwork it involved in contacting multiple lenders, but the lenders we connect you with will be more targeted because their lending criteria will match those on your form.

What is I already have a mortgage?
You should still fill out the mortgage refinance request because chances are there is a lender out there who would be willing to offer you better terms. This means you can either reduce your monthly payments, or pay off your loan faster and save interest in the process. What have you got to lose?

Does it cost anything to use your service?
No. Our service is completely free to you, the consumer.

How do you make money?
CompareSmart earns a referral fee from lenders we match you with.

Am I under any obligation?
Absolutely not. You have the choice to accept or refuse any or all offers made. There is no obligation for you to accept any offer made by a lender.

Who are your lenders?
We will only provide your information to licensed lenders or brokers in your community, state and nationwide want your business and want to provide you, the borrower, with the most competitive rates in order to work with you.

What information do I have to give you?
We require standard personal and contact information about you. Information regarding your financial situation such as income is also needed. If you currently have a mortgage, a home equity loan or line of credit, it is necessary for us to know the present terms of these loans as well as how much you still owe and how much you wish to borrow. It is a good idea to gather your pay stubs, last years tax return and assessment of your home and property before you begin completing the forms.

Will my information be kept private?
Your personal information will be kept strictly confidential and will only be disclosed to a maximum of four lenders and/or brokers who are licensed to do business in your state. For more information, check out our privacy policy.

Can I phone, mail, email or fax my request?
No, we only offer our service on the internet.

Who looks at my credit report?
We do not ask you nor verify your credit report. Lenders and brokers may ask you for permission to check your credit report once they contact you.

Can i see who reviews my request?
We will send you the names and contact information of all lenders who compete for your request. This information will be sent to the email address that you have provided to us.

Is it possible to negotiate directly with the lenders?
Absolutely! Contact information for each lender is provided to you. At that time, it is up to you to choose the lender that best suits your needs and, if, for example, a lower rate is offered to you by one lender you may advise other lenders. Once this process has begun, you are encouraged to negotiate for the best offer.

What if I don’t have perfect credit?
Your credit rating will play a role in offers made to you; however, we do have lenders who are willing to work with borrowers with less than perfect credit. There are many lenders who work with us, therefore many compete for your business.

Can I use Compare Smart if I live outside of the US?
At this time, CompareSmart is available only to residents of the US.

How do I get started? It's simple! Just fill out the mortgage form. If you are not sure about some of the questions, just click the little question marks for help.