How lender matching works: what happens after you submit a request

7 min read · LenderMatch Learn

Lender matching lets you hear from several lenders with one request. You answer a short form about your home and the loan you want, participating lenders that serve your state see the request, and those lenders contact you with options. You compare them and choose one, or none.

LenderMatch is not a lender. It never pulls your credit, the form does not require your Social Security number, and you can stop contact at any time with one email. Below is each step in plain words, what the form asks, how to tell whether it is safe, and how to compare the offers you get.

Walk into one bank and you are an applicant asking for approval. Put the same request in front of several lenders and you are a customer they have to win.

What happens after you submit a request

1. You fill out one short form. It asks about the property, your rough numbers, your credit range and how to reach you. It takes about two minutes.
2. Participating lenders that serve your state see it. Your request goes to a small set of participating lenders suited to it, not to the whole internet. The consent on the form covers up to four participating lenders and partner companies, and every company in the network is listed by name on our partner network page.
3. Lenders reach out. Matched lenders contact you by phone, text or email to talk through real options based on your situation.
4. You compare. Ask questions, request written estimates and line the offers up side by side. The tips further down show what to look at.
5. You choose, or you decline. Pick the lender that fits, or pick nobody. You owe nothing either way.

The full process, including where your information goes, is on how it works.

What information does LenderMatch ask for?

The questions depend on the loan. The HELOC request, for example, asks for:

• Property type (single family, multi-family, town home or condo, mobile home)
• How you use the property (primary residence, second home, investment)
• Estimated property value
• Your first and second mortgage balances, if any
• How much cash or credit line you want
• Your credit score range, picked from bands such as 720+ or 660-719
• Whether you've had a bankruptcy or foreclosure in the last three years, and whether you or your spouse served in the military
• Property address, name, date of birth, email and phone number

It does not ask for your income, bank statements, account numbers or pay stubs. It does not require your Social Security number. In some cases a lender needs one more detail to confirm your identity, and you will see that as a separate step that says so and has a "Skip this step" button.

Not sure what to enter for value or cash needed? The home equity calculator and how much equity you can borrow help you get a realistic number first.

Does lender matching affect your credit?

LenderMatch never pulls your credit. When you submit a request, you allow the matched lenders to check your credit with a soft inquiry, which does not affect your score. A hard inquiry only happens if you choose a lender, apply, and give that lender permission. Mortgage scoring models also group several mortgage inquiries made close together into one. The details are in does shopping for a mortgage hurt your credit?

Is LenderMatch safe and legit?

Here is what you can check for yourself:

• It is not a lender. LenderMatch is an online platform where lenders compete for borrowers. It doesn't make loans or decide who gets approved.
• You can see who might call. Every participating company is named on the partner network page, which the consent on the form points to.
• Your information is protected in transit. The form is encrypted in transit, and your rights to see or delete your information are in the privacy policy.
• It costs you nothing to use. There is no fee to submit a request, and no obligation to take any offer.
• You can verify any lender. The CFPB points borrowers to NMLS Consumer Access, a free lookup from the Nationwide Mortgage Licensing System & Registry, to check whether a mortgage company or loan officer is authorized in your state.

Treat any caller the way you would treat a bank you walked into. Ask for the company name and NMLS number, and ask for terms in writing before you pay anything.

How to stop lenders from calling you

"Stop" works, and you have three ways to say it:

• Tell any lender directly. Ask that lender to stop contacting you. Lenders are required to honor it.
• Email LenderMatch once. Send an email to contact@lendermatch.io with "Opt out" in the subject, from the email address you used on your request (or include the phone number you submitted). LenderMatch stops its own messages, tells the lenders your request was shared with that you revoked consent, and stops sharing your information. Opt-outs are processed within 10 business days at the latest.
• Reply STOP to texts. Replying STOP to a text from LenderMatch ends those messages.

The full details are on the opt-out page.

How to compare mortgage offers

Once lenders reach out, the work is comparing like with like. These rules come from the Consumer Financial Protection Bureau.

APR vs. interest rate

The interest rate is the yearly cost of borrowing the money. It does not include fees. The APR (annual percentage rate) reflects the interest rate plus points, broker fees and other charges you pay to get the loan, so it is usually higher than the rate. The CFPB's cautions: don't look at the APR alone, be careful comparing a fixed-rate APR with an adjustable-rate APR, and remember that an adjustable loan's APR does not show its maximum rate.

Use the Loan Estimate for a mortgage or refinance

For most mortgages, the lender must give you a Loan Estimate within three business days of receiving your application. Every lender uses the same three-page form, so you can lay them side by side: the interest rate is on page 1 under "Loan Terms," and the APR is on page 3 under "Comparisons." The CFPB suggests requesting Loan Estimates from three or more lenders.

HELOC offers work differently

A HELOC does not come with a Loan Estimate. You get Truth in Lending disclosures instead. A HELOC's APR also does not include fees the way a closed-end loan's APR does, so you have to compare fees separately. The CFPB's HELOC checklist includes the index and margin, any introductory rate and how long it lasts, rate caps, the draw and repayment periods, and fees such as appraisal, application, closing costs, annual fees and early termination fees. Under federal law you can also cancel a HELOC within three days after the account is opened and get your fees back. For the basics, see what is a HELOC.

Example: comparing two HELOC offers

Say you want a $50,000 line and draw all of it. A variable HELOC rate generally has two parts, an index plus a margin, and a common index is the U.S. prime rate (CFPB). Prime was 7.00% as of October 20, 2026 (Federal Reserve H.15). Two lenders send these terms:

• Offer A: prime + 1.25% = 8.25%. No closing costs, $75 annual fee.
• Offer B: prime + 0.75% = 7.75%. $1,200 in closing costs, no annual fee.

Holding the balance and the prime rate steady, and counting interest only:

• Year 1: A costs $4,125 interest + $75 = $4,200. B costs $3,875 interest + $1,200 = $5,075.
• Three years: A costs $12,375 + $225 = $12,600. B costs $11,625 + $1,200 = $12,825.
• Five years: A costs $20,625 + $375 = $21,000. B costs $19,375 + $1,200 = $20,575.

Offer B saves $325 a year in interest and fees, so it takes about 3.7 years to earn back its $1,200 in closing costs. If you plan to pay the line off in a year or two, the no-closing-cost offer is cheaper. These are illustrative numbers, not quotes; real offers depend on your credit, equity and state, and a variable rate moves with the index. The CFPB booklet makes the same point: if you draw only a small amount, up-front charges raise the cost of the money you borrow. Weighing a refinance instead? Compare both in cash-out refinance vs. HELOC.

Frequently asked questions

Is LenderMatch a lender?

No. LenderMatch is an online platform where participating lenders compete for borrowers. The lender you choose makes the loan decision.

How many lenders will contact me?

A small set. The consent on the request form covers up to four participating lenders and partner companies, and all of them are named on the partner network page.

Will submitting a request hurt my credit?

No. LenderMatch never pulls your credit. Matched lenders may run a soft inquiry, which does not affect your score. A hard inquiry happens only if you apply with a lender you choose and give it permission.

Do I have to accept an offer?

No. You can compare, negotiate, choose one lender or choose none. There is no cost and no obligation.

How do I stop lenders from contacting me?

Tell any lender directly, or email contact@lendermatch.io with "Opt out" in the subject. LenderMatch tells the lenders your request went to that you revoked consent, and processes opt-outs within 10 business days at the latest.