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Simplist Reviews

8.4

bestfor-icon Access to a wide range of different lenders

andrewo
Written by Andrew Omalley

About Simplist | Read More

8

LS Score

10

Credibility

7

Support

9

Accessibility

Visit Site
Opening Hours Opening Hours drop-down-btn
Mon-Sun Call back service only
Contact Information Contact Information drop-down-btn
  • (646) 992-4696
  • Headquarters: 500 7th Ave Fl 8, New York, New York, 10018, United States
Social Media Social Media drop-down-btn
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Simplist Mortgages Review

Simplist is a marketplace for mortgage purchase and refinancing loans, as well as for people who are looking to get a home equity loan. It deals with a huge range of lenders, so there will usually be a great level of choice available no matter your preferences. It has been in the business since 2018 and has helped a huge amount of people since then.

Simplist Mortgages Highlight

620

Min Credit Score

Min 6.012%

APR. Fixed Rate

Min 6.012%

APR. Variable Rate

5-30 Years

Repayment terms

Yes

Soft Credit Pull

Marketplace

Lender Type

Undisclosed

Underwriting Fee

Yes

Other Fees

None

Origination Fee

Undisclosed

Prepayment Fee

1764611

NMLS

Pros & Cons

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  • con-icon Quick time to funding
  • con-icon Wide range of options
  • con-icon Deals with reputable lenders
  • con-icon Favorable cost structure
  • con-icon Only available in about 20 states

Mortgage Type

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  • Mortgage Purchase
  • Mortgage Refinance
  • Fixed
  • Adjustable
  • Home Equity Loan
  • FHA
  • VA
View rates

Simplist Mortgages Terms & Requirements

As Simplist is a marketplace, the exact terms and requirements of the loans will vary depending on the specific lender you are considering. However, certain aspects remain consistent throughout, and some minimum standards are in place. 

Generally, you will need to have a credit score of at least 620 to get a loan through Simplist. For fixed-rated rate loans, you will look at term periods of 15, 20, or 30 years. There are no application or processing fees in place, but a fee will be charged if you end up closing on a loan.

How to Apply

Applying for a mortgage with Simplist is easy and straightforward. To get started, visit their website. Once on the website, click on the “Get Started” button to begin the application process. You will be prompted to provide some basic information about yourself and the property you wish to purchase. You will also need to upload some documents, such as your income and employment verification.

After submitting your application, a Simplist representative will review it and contact you with any additional information they may need.

Qualification Requirements

  • A minimum credit score of 620 is usually required.
  • The age requirement is 18 years or older.
  • Must be a US citizen or permanent resident.
  • Capacity to repay must be demonstrated.

Required Information

  • Social Security Number.
  • Current address.
  • Phone number.
  • Total income.
  • Names of those to be on the loan.
  • Price of the home.
  • The sum you wish to put down.
  • Estimated annual property tax.
  • Estimated annual home insurance premium.
  • Proof of address.
  • Copy of photo ID.
  • Income verification documents.

Application Steps & Time Frames

When you want to see what loan options are available, just visit the Simplist website. You can go through the pre-qualification process in just a few minutes.

All you need to do is provide some basic information, such as the type of loan you are looking for, the amount you want to borrow, and where you live. When you complete this simple process, the range of different loan options will then be presented to you clearly. There is no hard credit check needed at this stage.

If you find a loan offer that you like, you can submit an official application with that given lender. As Simplist is a marketplace, many different lenders are available for you to work with. Each one will have its own distinct application process with its own requirements.

The process will usually be standard enough, and a hard credit check will be necessary. Simplist tends to work with lenders that are relatively quick with giving loan approval, usually getting an answer within 48 hours. The goal is to have a time to funding period between 10 and 14 days after submitting the application.

State Availability

Available - California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Kentucky, Maine, Minnesota, Mississippi, Montana, New Jersey, Ohio, Pennsylvania, Tennessee, Texas, Washington, Wyoming,

Not Available - Alabama, Alaska, Arizona, Arkansas, Hawaii, Indiana, Iowa, Kansas, Louisiana, Maryland, Massachusetts, Michigan, Missouri, Nebraska, Nevada, New Hampshire, New Mexico, New York, North Carolina, North Dakota, Oklahoma, Oregon, Rhode Island, South Carolina, South Dakota, Utah, Vermont, Virginia, West Virginia, Wisconsin,

andrewo
Written by Andrew Omalley facebook-icon twitter-icon

Andrew is a freelance writer who has been crafting valuable pieces of content relating to personal finance for more than five years. Previously, he studied Economics & Finance at university and he has professional qualifications relating to financial advice.

faq-icon

FAQ’s

Does Simplist charge an application fee?

Simplist does not charge any sort of application fee or processing fee when you use the platform.

How long does it take to apply to Simplist?

The application process only takes about two minutes to complete, after which you will then get assigned a loan expert.

Does using Simplist impact your credit score?

When you assess your options through Simplist, you will be subject to a soft credit check, this means that your credit score will not be hurt.

Customer Support

If you need to get help with anything relating to the Simplist offering, you are able to request a callback. You will then get a phone call from one of the team’s professionals who will be able to take you through what you need to do in order to fulfill your specific needs.

The email form can also be used in order to get issues resolved, while Simplist is active across a number of different social media platforms. There is plenty of transparency on the Simplist website when it comes to current rates, while the FAQ section carries solutions to a lot of the more common types of issues.

Privacy & Security

Simplist has built up a solid reputation over the years, with its team including professionals who have been in the mortgage business for many years. It has an A rating with the Better Business Bureau, and it also has an Equal Housing Lender accreditation.

Simplist places a big focus on making sure that all of the private data that customers share is kept completely safe and sound at all times. Bank-level encryption is utilized in order to keep everything safe and secure.

In Conclusion

As the name suggests, Simplist keeps everything nice and simple for people who are looking for housing-related loans. Whether you are buying a home, looking to refinance your mortgage, or tapping into your home equity, the Simplist marketplace can find a suitable lender for your needs.

Brand Disclaimer

Simplist Mortgage LLC (DBA Simplist) is an equal housing lender. Loans made or arranged pursuant to a California Finance Lender License. This site is not authorized by the New York State Department of Financial Services. No mortgage solicitation activity or loan applications for properties located in the State of New York can be facilitated through this site. Not available in all states. NMLS Consumer Access.