Safe Rate

What Safe Rate does

Safe Rate is a Chicago-based, privately held mortgage technology company founded in 2018 that operates an anonymous quote-comparison marketplace for U.S. homebuyers and refinancers. The platform enables borrowers to describe a loan scenario, invite any lender — including their own bank — and receive blind side-by-side quotes without surrendering contact information, explicitly positioned against the spam-driven lead-generation model that dominates online mortgage shopping. Its underwriting-adjacent intelligence is built on three proprietary data assets: (i) a 4 Ps lender ranking framework (Pricing, Pull-through, Place, Product) computed over the public 2024 HMDA dataset covering roughly 10 million U.S. mortgage applications, (ii) a local rate-index engine producing daily-refreshed indexes for 20-plus loan products across more than 70,000 ZIP codes, cities, counties, and school districts, and (iii) a parcel-level property data layer spanning 140 million residential building footprints in 49 states with FEMA flood overlays, aerial imagery, and LiDAR. A conversational AI Mortgage Assistant sits on top of these data assets, allowing plain-English queries about rates, lenders, and local ownership costs.

The business model is freemium for consumers: borrowers compare quotes for free and only share contact information when they choose to connect with a lender. Revenue is generated from lender referral and lead fees when borrowers convert, from subscription fees for verified broker and lender profiles, and from enterprise data licensing of the local rate indexes and methodology. Lender participation is positioned as no-paid-placement, with rankings derived from HMDA closed-loan performance rather than advertising spend, and the platform also operates a related lending entity through PartnerOwn LLC dba Safe Rate Mortgage (NMLS #1590949).

Safe Rate remains a small, capital-efficient team (1-10 employees) with a single disclosed funding event — a $715,000 round in March 2021 from the Polsky Center at the University of Chicago — and no disclosed revenue, parent company, or institutional venture backing. Geographic footprint is national (49 states plus DC), and the product surface is broadening beyond rate-shopping into total-cost-of-ownership tooling (insurance, utilities, parcel-level climate risk) with a forthcoming solar estimation feature.

Name

Safe Rate

Legal name

Safe Rate Inc.

Website

https://saferate.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Short description

Safe Rate is a Chicago-based mortgage technology company that operates an anonymous quote comparison marketplace for U.S. homebuyers and refinancers, ranking 2,300+ lenders using HMDA performance data and providing hyperlocal rate indexes across 70,000+ geographies.

Ownership category

akta.pro rank

Product category

Mortgage Comparison Platform

NAICS

Mortgage and Nonmortgage Loan Brokers (52231), Other Activities Related to Credit Intermediation (522390)

SIC

Loan Brokers (6163), Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Mortgage Comparison, Marketplace & Rate-Shopping Platforms (FSALABAJ)

akta.pro secondary industry

Product, Pricing & Eligibility (PPE) / Rate Lock & Pricing Engines (FSALALAC)

Keywords

• Mortgage comparison platform
• Anonymous mortgage quotes
• Lender ranking analytics
• Local mortgage rate indexes
• HMDA lender data

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Lender Referral/Lead Fees: Free for borrowers. Lenders pay for placement/lead generation when borrowers choose to share their information after comparing quotes
2. Verified Broker Profiles: Mortgage brokers and lenders can purchase verified profiles to increase visibility and trust with high-intent buyers
3. Data Licensing: Licensing local mortgage rate indexes and methodology to enterprise customers. 'How the index works & data license' option available on rate pages

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels4 records

Core offering

Safe Rate operates an anonymous mortgage quote comparison platform where borrowers describe their loan scenario, invite any lender or broker, and receive blind side-by-side quotes without sharing contact information. The platform ranks 2,300+ lenders using HMDA data on 10M+ loan applications via a proprietary "4 Ps" framework (Pricing, Pull-through, Place, Product) and surfaces hyperlocal rate indexes for 70,000+ geographies. An AI Mortgage Assistant provides conversational access to the same underlying lender and rate data.

Product overview

Safe Rate is a mortgage technology platform built around an anonymous quote comparison marketplace. The core platform lets shoppers describe their scenario, invite any lender, and receive blind quotes side-by-side without surrendering contact information. This core experience is powered by three supporting data products: Lender Research & Rankings (based on the 4 Ps framework using HMDA data), Local Rate Indexes (20+ loan products across 70,000+ geographies, updated daily), and an AI Mortgage Assistant for conversational queries. A fourth sub-product, the Local Market Profile, provides parcel-level cost and risk estimates. Together these products form a mortgage shopping ecosystem: comparison marketplace + lender intelligence + local pricing data + AI-powered navigation.

Differentiator

Problem solved

Functional benefit

Products and services

• Anonymous Mortgage Quote Comparison Platform

Quantifiable outcome

• Borrowers who compare four or more lenders save at least $1,000/year according to Freddie Mac research
• +1 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature5 records

Partnerships

Six partnerships are on record, tiered minor and core.

• Freddie MacminorStrategic or Co-development PartnerFreddie Mac research cited on Safe Rate platform supporting the value of mortgage comparison shopping. Research found borrowers who compared four or more lenders saved at least $1,000/year, especially when rates are high. This research validates Safe Rate's core value proposition.
• Consumer Financial Protection Bureau (HMDA Data)coreTechnology or IntegrationSafe Rate uses the Home Mortgage Disclosure Act (HMDA) dataset - public record of nearly every U.S. mortgage application (10M+ applications) - as the foundation for lender rankings. HMDA data is government-verified and cannot be gamed, providing objective basis for all lender ratings.
• Greenstate Credit UnioncoreChannel Partner/ Reseller/ DistributorTop-ranked FHA lender in Chicago with exceptional pricing, pull-through, and product expertise. Ranked #1 in Chicago market with 826 FHA loans, $894 avg fees, 0.049% rate spread above market. Serves as reference point for platform quality.
• United Wholesale Mortgage (UWM)coreChannel Partner/ Reseller/ DistributorRanked #2 FHA lender in Chicago with 5,055 FHA loans, $1,875 avg fees. Platform behind many independent local brokers who live and work in communities. Safe Rate partner brokers like Dylan Hall work with UWM.
• The Huntington National BankminorChannel Partner/ Reseller/ DistributorRanked #3 FHA lender in Chicago with 1,680 FHA loans, $876 avg fees. Strong pricing and pull-through performance.
• Dylan Hall (Verified Broker Partner)minorChannel Partner/ Reseller/ DistributorVerified Safe Rate partner and licensed broker (NMLS #1658740) actively working with United Wholesale Mortgage and PennyMac. Helps connect borrowers with lenders ranked on the platform.

Scale indicators7 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• LendingTree: LendingTree operates the dominant loan comparison marketplace where consumers shop mortgages, personal loans, and other credit products. Safe Rate positions itself directly against LendingTree's lead-gen model — both serve borrowers comparing multiple lender quotes, but Safe Rate differentiates through blind bidding and no spam.
• Bankrate: Bankrate (owned by Red Ventures) publishes mortgage rate indexes and lender comparisons across U.S. markets. It serves the same consumer use case of rate shopping and lender research, monetized via lender referral fees — the exact model Safe Rate competes with.
• NerdWallet: NerdWallet provides consumer financial product comparison content and lead generation across mortgages, credit cards, and loans. It is comparable as a content-driven, lead-gen-adjacent mortgage comparison platform competing for the same borrower intent Safe Rate captures.
• Better.com: Better.com is a digital-first mortgage lender focused on streamlining the home loan experience with a self-serve platform. It is comparable as a technology-forward mortgage platform competing for digitally native borrowers, though it operates as a single direct lender rather than a multi-lender comparison marketplace.

Broad incumbents

• Zillow (Zillow Home Loans): Zillow operates a massive real estate marketplace with an integrated mortgage lending arm (Zillow Home Loans). It is comparable as a broad incumbent funneling high-intent homebuyers into mortgage shopping, though its primary real estate listing business gives it distinct distribution advantages.
• Rocket Mortgage: Rocket Mortgage (formerly Quicken Loans) is the largest U.S. mortgage originator with massive brand spend and direct-to-consumer digital origination. It is a broad incumbent competing for the same borrower, but unlike Safe Rate it originates loans on its own balance sheet rather than operating a multi-lender marketplace.
• Credit Karma: Credit Karma (owned by Intuit) provides free credit scores and financial product comparison, including mortgage offers. It is comparable as a consumer-facing platform monetized through lender referrals, with massive scale and traffic advantages that compete for borrower attention in mortgage shopping.

Emerging players

• Redfin (Redfin Mortgage): Redfin combines brokerage with an integrated mortgage lending arm (Redfin Mortgage), comparable as a tech-driven real estate and mortgage platform. It serves a similar consumer but is tied to Redfin's brokerage model rather than operating as an open marketplace.
• Upstart: Upstart operates an AI-driven lending marketplace connecting borrowers to bank and credit union partners. It is comparable as a technology-first credit marketplace using alternative data and AI, though it focuses primarily on personal loans and auto rather than mortgages.

Others

• Maxwell: Maxwell provides a digital point-of-sale platform for mortgage lenders and brokers. It is adjacent to Safe Rate as a mortgage technology provider — comparable in the mortgage tech ecosystem but focused on enabling lenders rather than consumer-facing comparison.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/saferateco
• Facebookfacebook.com/saferatemortgage
• LinkedInlinkedin.com/company/saferate

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Safe Rate