At a Glance

Simplist is an online mortgage broker that helps you get the best rate from more than 25 lenders. The platform offers fixed-rate mortgages from 4.221% APR and can close loans in as little as 10 days. You can get pre-approved without a hard credit pull and apply for a mortgage or refinance online. If you need help choosing a mortgage, Simplist loan officers are available by phone. Simplist is completely free to use and is available in 19 states.

Key Figures

Loan types: Mortgage, refinance

Loan products: Conventional, jumbo, VA, FHA, refinance, fixed-rate, adjustable-rate

APRs start from: 4.221%

Minimum credit score: 620

Repayment terms: 15, 20, 30 years

Simplist makes it easy to get the best rate for a mortgage or refinance by comparing offers from more than 25 lenders. You can get pre-approved in minutes and complete the loan application process online. If you need help, you can talk to a loan officer over the phone.

Simplist only offers an online application, so you must be comfortable applying for a mortgage online. In addition, Simplist is only available in 19 states: California, Colorado, Connecticut, Delaware, Georgia, Florida, Idaho, Illinois, Kentucky, Maine, Minnesota, Mississippi, Montana, New Jersey, Ohio, Pennsylvania, Tennessee, Texas, and Wyoming.

How it Works

Simplist is a mortgage broker, not a direct lender. The platform works with more than 25 lenders to issue mortgages and refinance loans. However, you can apply for a loan from any of these lenders directly through Simplist. Note that your loan will be serviced by the issuing lender rather than by Simplist.

Here’s how to get started with Simplist online:

Step 1: Enter Details about Your Property

Simplist offers a simple online wizard to help you get pre-approved for a loan. Begin by selecting whether you’re interested in buying a home or refinancing. Then fill out details about the property you want a loan for, including its address and your estimated purchase price and down payment. You must also provide your name, email, address, phone number, and social security number during this process.

Step 2: Undergo a Soft Credit Check

Once you’ve filled out this information, Simplist will perform a soft credit check. This does not hurt your credit score.

Step 3: Choose Your Loan and Get Pre-approved

Simplest will show you all of your loan options from the different providers that the platform works with. You can select any of these loans and download a pre-approval letter for your chosen loan immediately.

Step 4: Apply Online

If you want to apply for the loan you’ve been pre-approved for through Simplist, the process continues online. You must provide valid ID and proof of income as well as submit to a hard credit check. Some lenders may require additional documentation, such as bank statements or tax forms. You’ll be assigned a loan officer once you submit your application so you can get in touch if you have any questions.

Step 5: Close Your Loan

Like everything else with Simplist, the closing process takes place online. The time to loan closing varies by lender, but some of the lenders Simplist works with can close in as little as 10 days. Your lender will get in touch within 30 days to provide instructions for how to make payments on your loan.

Types of Loans

Simplist offers both mortgage and refinance loans. You can get a loan for a primary residence or investment property, and for a single-family home, condo, duplex, or townhome.

Simplist offers conventional and jumbo mortgages as well as government-backed VA and FHA loans. You can choose a 15-, 20-, or 30-year fixed-rate mortgage or a 5/1 or 7/1 adjustable-rate mortgage.

Loans through Simplist are only available in 19 states and Washington, D.C.

Loan Features

• 25+ lenders: Simplist works with more than 25 lenders to help you find the best rate for your mortgage or refinance.
• Low minimum credit score: Simplist works with most borrowers who have a credit score of 620 or higher.
• Flexible mortgage options: You can get a mortgage to purchase a single-family home, condo, duplex, or townhome, including an investment property.
• Rate lock: Simplist allows you to lock in your quoted loan rate for 30 to 90 days after you are pre-approved.
• Fast closing: Most loans close in 15 days or fewer at Simplist, and some loans can close in as little as 10 days from when you apply.
• Multiple repayment terms: Simplist offers fixed-rate mortgages with 15-, 20-, and 30-year terms as well as 5/1 and 7/1 adjustable-rate mortgages.
• Points available: You can purchase points with Simplist to reduce your interest rate and lower the overall cost of your loan.

Rates and Terms

Simplist offers interest rates for fixed-rate loans starting from 4.221% APR and for adjustable-rate loans starting from 3.970% APR. You can purchase points as part of your loan closing to reduce your interest rate. Simplist offers a rate calculator on its website to help you determine what rate you’re likely to get for a home purchase or refinance.

Fixed-rate mortgages are available in 15-, 20-, and 30-year terms, while adjustable-rate mortgages are available in 5/1 and 7/1 terms. Most loans issued through Simplist have closing costs, but there are no prepayment penalties if you pay off your loan early.

Summary

Simplist is an online mortgage broker that works with more than 25 lenders to get you the best rate for your mortgage or refinance loan. The platform offers fixed-rate and adjustable-rate loans, including conventional, jumbo, FHA, and VA loans. With Simplist, you can get pre-approved in minutes and complete your mortgage application entirely online. If you need help, you can schedule a call with a loan officer. Simplist is completely free to use and can close your loan in as little as 10 days.

Contact Simplist

Simplist is accredited with the Better Business Bureau and has an A rating. You can use a form on Simplist’s website to schedule a call with a loan officer, but there is no email support. Simplist’s website also has a detailed FAQs page that explains the pre-approval and application process. The Simplist blog offers articles about common home buying questions and tactics to reduce the cost of a loan.

HQ: 500 7th Ave, 8th Floor, New York, NY 10018.