Lendgo Review 2022: How Does This Free Service Stack Up?

GOBankingRates Score

Quick Take: Lendgo is a new-home mortgage, refinancing and VA loan aggregate service. Applicants fill out an online questionnaire regarding the type of loan they're looking for and lenders compete for their business. The platform is easy to use, and borrowers enjoy competitive interest rates. Applicants don't pay fees to use Lendgo. Instead, lenders do, paying a loan acquisition fee when Lendgo users accept new loan offers. However, applicants do have to pay processing or closing costs and other fees with the lender they choose.
  • Available Loan Types
  • Ease of Use
  • Service Fee
  • Loan Rates
How did we calculate this?


  • Multiple lenders compete
  • New mortgages, refinancing and VA loans available
  • Competitive interest rates
  • Free for applicants
  • Has an A+ rating with the BBB


  • Doesn't offer loans directly
  • Must apply to view rates
  • Only mortgage-related loans are available

Lendgo Overview

Lendgo is a service that matches people who are looking for mortgage loans with lenders. It does this by forcing the lenders to compete for applicants’ business. Borrowers fill out a short form describing the type of loan they’re looking for and agree to a soft credit pull that doesn’t affect their credit scores. 

Lenders use this information to provide their best offer on a potential mortgage, and the borrowers determine which lender and terms they feel most comfortable with.

Applicants can access new mortgages, refinance their current mortgages or access VA home loans through the platform for free. Lendgo offers its services for free because it charges lenders advertising fees and commissions when the platform’s users accept new loans.

Borrowers enjoy fixed interest rates starting at 3.30%, and the platform is easy to use.

Key Features

Here are some of Lendgo’s most impressive features.

Available Loan Types

There are three different loan types available:

  • New Mortgage. This service is for applicants looking to buy a new home, whether it’s their first-time home purchase or they’re looking to move to a new location. 
  • Refinance. This service is for applicants who want to reduce their mortgage interest rates, tap into their home’s equity or both. 
  • VA Home Loans. VA Home Loans are for U.S. Armed Services veterans who are looking to buy a home and intend to enjoy the fruits of their service to our country in the process.

The only drawback is that these are all home loans. The service isn’t an adequate solution for auto loans, personal loans or credit cards, which is why it earned a GOBankingRates score of 4.5 instead of 5 in this category.

Ease of Use

The Lendgo platform is very easy to use. Applying for a new loan is a breeze, thanks to small, bite-sized steps. The designers at Lendgo wrote the questions on the online form in a way that makes them easy to understand. The layout of the site and the application are also inviting.

Service Fee

There’s no service fee associated with the services provided by Lendgo, at least not on the borrower’s behalf.  

So, how does the company make money?

Lendgo earns its profit as an affiliate website. This means the company has entered into agreements with the various lending companies that propose offers on the Lendgo website. When a user clicks on an offer and opens a new loan with a lending institution, that institution pays Lendgo a fee for using its client acquisition services.

While the free service is positive, it does create a conflict because users might not receive loan offers from providers that don’t pay Lendgo a commission, potentially missing out on lower interest rates, better terms or both. 

Loan Rates

Lendgo advertises mortgage interest rates as low as 3.30% fixed. Of course, each applicant is unique, and their credit scores and financial stability will play a role in the interest they pay. 

Nonetheless, a 3.30% starting rate is competitive, considering the average mortgage interest rate for a 30-year term in the U.S. currently sits at 5.14%.

What Sets Lendgo Apart?

Lendgo interest rates are the biggest factor that sets the company apart from its competitors. Mortgage rates start at just 3.30% on the platform, compared to the 5.14% national average. 

Good To Know

Experts expect mortgage rates to rise as the Federal Reserve works to combat rising inflation. Mortgage hopefuls should act quickly to lock in today’s low interest rates before they likely increase and homeowners miss out on better deals.

Lendgo vs. Competitors: Comparable Lending Services

No financial service is a perfect fit for everyone, and Lendgo is no exception. Those who aren’t interested in working with this company might consider the following competing services.


Better.com is another mortgage loan aggregate service that doesn’t charge a fee for its work. Like Lendgo, lenders pay the company when a user signs up for a new loan from their platform. Interest rates on the platform are as low as 4.49%, and comparing options is just as easy as it is on Lendgo.

Better.com users can get pre-approved in as little as three minutes, and loans that originate on Better.com close up to 10 days faster than loans from other sources. 


Simplist is another quality mortgage loan aggregate service. Like Better.com and Lendgo, the company doesn’t charge the end consumer for its services because it’s paid commissions by lenders when users sign up. Mortgage rates on the platform start at a little more than 4.125% fixed, and the platform pits several lenders against each other when applicants request quotes.

By design, the “request a quote” form makes it incredibly easy to use, and the loan options offered come with all of the important comparison information. Applicants can quickly comb through their options to find the loan that best fits their needs.

How To Apply for Lendgo

It’s easy to apply for a loan with Lendgo. Here’s how it’s done.

Follow These Steps

  1. Go to the Lendgo website and select a loan type.
  2. Choose whether the property will be the primary residence, a second home or an investment property. 
  3. Specify whether the home is a single-family, multi-family, condo or mobile home. 
  4. Note the estimated property value. 
  5. Note the amount of money to be borrowed.
  6. Indicate whether a home purchase is already in consideration.
  7. Note whether a real estate agent is already involved or if one should be recommended.
  8. Provide personal credit information and military status.
  9. Provide a residential address and email.
  10. Compare the loan options. 

Lendgo: Good for Loan Seekers Who Need Results Quick

Lendgo is a perfect option for mortgage hopefuls who don’t have much time to research and compare mortgage options. The service does the legwork of finding competitive offers for its customers. However, those who have the time to shop around may find better deals from lenders that don’t pay commissions to Lendgo. 

Final Take

Lendgo makes finding competitive mortgage offers a breeze. However, some offers may be missing from the list due to how the company earns its money. Anyone interested in Lendgo should make sure to look into other options before choosing a mortgage offer. 

Lendgo FAQ

It's normal to have questions. Here are some of the most common questions about Lendgo.
  • What is Lendgo?
    • Lendgo is an online mortgage platform that pits lenders against each other to compete for its users' business. The platform offers new mortgages, refinancing options and VA home loans at competitive interest rates, and never charges the end user a fee for its services. It's essentially a third-party affiliate that helps users get competitive rates for a home loan.
  • Will interest rates go up?
    • The U.S. Federal Reserve is the central bank that controls monetary policy in the United States. One of the Federal Reserve's jobs is to combat high inflation levels when they arise. Inflation in the United States has climbed to rates higher than any in the last 40 years. One of the ways the Federal Reserve plans to combat this issue is by increasing the Federal Funds Rate, which is the basis for how banks calculate interest rates on consumer loans like mortgages and auto loans. The Federal Reserve is likely to increase the Federal Funds Rate, given the current state of inflation in the United States. Mortgage rates are likely to increase as a result.
  • Is Lendgo safe?
    • Lendgo has provided quality services to mortgage applicants since it was founded in 2005. The company works with quality mortgage providers and has earned an A+ rating from the Better Business Bureau.
  • Should I lock my rate today?
    • Mortgage rates in the U.S. are likely to increase in the near term, considering the rising levels of inflation. Consequently, those considering buying a home in the near future should attempt to lock in today's low rates.

Editorial Note: This content is not provided by Lendgo. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Lendgo.

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About the Author

Joshua Rodriguez is a personal finance and investing writer with more than 10 years of experience. He is the founder of CNA Finance. His work has been featured on U.S. News & World Report, Money Talks News and several other mainstream outlets. 
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