Although it’s a more recent entrant into the lending market, The Loan Exchange is quickly making a name for itself as a great way for customers with less than stellar credit to discover mortgage refinancing loans that help them cut down their debt and regain home equity. The company is not directly a lender, but rather a marketplace that connects prospective borrowers with lenders which match both their financial circumstances and their preferred terms.

The Loan Exchange - The Basics

Loan Types Offered

Mortgage Refinancing

Additional Loan Programs


Loan Terms Available

Fixed rate: 15, 30 years

Minimum Credit Score


Origination Fees

Depends on lender

Lender Type


Down payment


Who is The Loan Exchange For?

One of the great things about The Loan Exchange is that its wide network of lenders is happy to work with borrowers that have less than stellar credit. With a lower general credit score requirement, it’s easier to refinance your home if you’re still working on improving your overall finances. The company’s focus on refinancing loans also means that it’s ideal if you’re seeking to gain more favorable terms on your repayments to reduce your financial strain.

Additionally, The Loan Exchange’s network makes it a great option if you’re looking to window shop for your loans and obtain multiple quotes before committing to a lender. Once you fill out a single application, you’ll start receiving offers and calls from prospective lenders which meet your criteria and preferred terms. It’s also worth noting that while the company’s other loan products are available in multiple states, its mortgage refinancing services are only available if you live in California.

Loan Types Offered

The Loan Exchange offers a variety of financing options, but its home loan products focus on refinancing. This makes it a great choice if you’re looking to gain more favorable terms on your monthly repayments or interest, even if your credit isn’t amazing. The company has a high amount available for refinancing, with up to $765,525 available (although there is a minimum of $100,000) to borrow. Moreover, you can choose either a rate-term refinancing or a cash out refinancing if you’re in need of cash in hand. The company’s rates are all fixed and start as low as 2.875%.

Loan and Repayment Terms

We appreciated that there is a wide variety when it comes to repayment terms. Because The Loan Exchange is a marketplace, it doesn’t set loan repayment terms, but rather facilitates connections between borrowers and lenders which have terms that match prospective borrower needs.

Even so, you can usually find 15- and 30-year options at favorable rates. The 15-year fixed rates are listed as low as 2.875%, while 30-year fixed rates start at 3.250%, though keep in mind that those may increase depending on your financial history, credit score, and home value.

The Loan Exchange Loan Features

Even though it’s still quite new to the market, The Loan Exchange stands out for its speed of delivery and its efficient application system. When you first visit the platform’s website, you can fill out a single preliminary application that will start connecting you to a variety of different loan options that fit your preferred terms and qualifications. This initial check doesn’t affect your credit and will show you the types of refinancing deals you can conceivably access.

Furthermore, The Loan Exchange is available for quite large sums, which makes it a great destination if you’re attempting to pay down a hefty mortgage. The company’s maximum loan amounts extend to $725,000+, with a minimum of $100,000.

More importantly, The Loan Exchange helps customers through the application and closing process, with an average of 15 days or less to closing and no closing costs. In some cases, borrowers can have loans disbursed as quickly as one business day after closing. You can also take advantage of the easy-to-use mortgage refinancing calculator on the company’s home page to see how your mortgage payments would change after you get a new refinance loan.

Customer Support

If you need customer support, The Loan Exchange is available via phone to answer any questions you may encounter. We were also pleased to see that the company includes a refinance calculator to help you get a better idea of what refinancing actually means for your monthly payments. While we would have appreciated a more extensive educational section and an FAQ, we were pleased with the level of service we received from The Loan Exchange’s knowledgeable support staff. 


If you’re a California resident seeking to improve your mortgage repayments, The Loan Exchange may be an ideal solution. The company’s accessibility for customers with decent but not great credit, as well as its variety of options available, makes it a great choice for a wide range of users. If you’re opting to quickly and easily refinance your mortgage, The Loan Exchange presents an intriguing alternative.