FreeRateUpdate.com LLC
FreeRateUpdate.com is a US-licensed mortgage broker and lead generation platform that matches consumers across all 50 states with a network of lenders for refinance, purchase, home equity, HELOC, and personal loan products, monetizing through lender-paid referral fees.
- Company typePrivate
- Founded2008
- HeadquartersChadds Ford, United States
- Headcount11–50
- GTM typeB2C
- OfferingDigital Commerce or Content
What FreeRateUpdate.com LLC does
FreeRateUpdate.com LLC is a US-licensed mortgage broker and lead generation platform founded in 2008 and headquartered in Chadds Ford, Pennsylvania, with a secondary regulated entity in Newport Beach, California. The company operates a web-based comparison and matching service at freerateupdate.com that allows consumers to shop mortgage and consumer-loan products and be matched with participating lenders. Its core product surface spans refinance, purchase mortgages, home equity loans and HELOCs, cash-out refinance, home improvement loans, personal loans, and government-backed FHA and VA programs, with supporting tools that include a mortgage calculator and a lender review page. The platform is free for consumers, is available across all 50 states (continental US and Hawaii), and relies on state-specific rate pages and an educational content library for top-of-funnel traffic.
Underlying the consumer experience is a web platform that combines a public rate-comparison interface with a proprietary lender-matching system and a soft-credit-inquiry feature for initial rate shopping that does not impact the user's credit score. The platform includes historical mortgage rate trend data (referenced back to 1991), call-center phone support, and an inside-sales team for partner and lender interactions. FreeRateUpdate is registered as a Licensed Mortgage Broker (NMLS #1154338) in Pennsylvania and, through a sister corporation (Freerateupdate.com Corp, NMLS #1452444), as a Licensed Mortgage Originator in California.
FreeRateUpdate generates revenue primarily through affiliate referral fees paid by a network of participating lenders, which includes Rocket Mortgage, Loan Depot, Amerisave, Magnolia Bank, The Federal Savings Bank, and Prosperity Home Mortgage, and additionally offers a live-transfer lead service that routes consumer inquiries directly to lender call centers. The go-to-market motion is product-led growth anchored on SEO, content marketing, and organic social, with phone-based inside sales for higher-touch consumer and partner inquiries. The company operates without disclosed external venture or growth equity funding and appears to be privately and founder-controlled.
FreeRateUpdate.com LLC firmographics
Firmographics- Name
- FreeRateUpdate.com LLC
- Legal name
- FreeRateUpdate.com LLC
- Website
- https://freerateupdate.com
- Company type
- Private
- Founded year
- 2008
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- FreeRateUpdate.com is a US-licensed mortgage broker and lead generation platform that matches consumers across all 50 states with a network of lenders for refinance, purchase, home equity, HELOC, and personal loan products, monetizing through lender-paid referral fees.
- Ownership category
- akta.pro rank
FreeRateUpdate.com LLC industry classification
Industry- Product category
- Online Mortgage Marketplace
- NAICS
- Mortgage and Nonmortgage Loan Brokers (522310)
- SIC
- Loan Brokers (6163)
- akta.pro primary industry
- Mortgage Comparison, Marketplace & Rate-Shopping Platforms (FSALABAJ)
- akta.pro secondary industry
- Mortgage Lead Generation & Marketing Intermediaries (FSALABAI)
Keywords
Where FreeRateUpdate.com LLC is headquartered
LocationHeadquarters
- HQ city
- Chadds Ford
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
FreeRateUpdate.com LLC business model
Business model- GTM type
- B2C
- Offering type
- Digital Commerce or Content
- Cost components
- Marketing or Sales, Technology or R&D, Personnel, Operations, Others
Revenue model
- Lead Generation / Marketing Fees: FreeRateUpdate.com is compensated by Lenders for the services provided. The company generates revenue by matching consumers with lenders and generating qualified leads for mortgage products including refinance, purchase, home equity, cash-out, and personal loans.
- Live Transfer Leads: Company offers live transfer lead services to lenders where potential borrowers are directly connected to lender call centers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Others | Consumer-facing free service |
| Transaction based/ take rate | Pay-as-you-go | Lender Network Participation |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels5 records
FreeRateUpdate.com LLC product offering
Product offeringCore offering
FreeRateUpdate.com LLC operates a free consumer-facing online mortgage marketplace that matches U.S. borrowers (continental U.S. and Hawaii) with a curated network of licensed mortgage lenders for purchase, refinance, home equity, cash-out refinance, home improvement, FHA, VA, and personal loan products. The company earns revenue through referral and lead-generation fees paid by participating lenders (including Rocket Mortgage, Loan Depot, Amerisave, Magnolia Bank, The Federal Savings Bank, and Prosperity Home Mortgage), not by charging the consumer. The platform also sells live-transfer leads and is a Licensed Mortgage Broker (NMLS #1154338) and Mortgage Originator (NMLS #1452444).
Product overview
FreeRateUpdate.com LLC operates a mortgage rate comparison and lender matching platform. The core offering is a free comparison platform that matches users with lenders from their network based on loan type and financial profile. The platform offers products across multiple loan categories including Refinance, Purchase mortgages, Home Equity (including HELOCs), Cash-Out Refinance, Home Improvement Loans, Personal Loans, FHA Loans, and VA Loans. Supporting tools include a Mortgage Calculator and Lender Reviews. The company also provides lead generation services (Mortgage Leads and Live Transfer Leads) to lenders in their network. FreeRateUpdate is a Licensed Mortgage Broker (NMLS #1154338) and Licensed Mortgage Originator (NMLS #1452444).
Differentiator
Problem solved
Functional benefit
Products and services
- Mortgage Rate Finder (lender matching platform) Free online mortgage marketplace for U.S. consumers in the continental states and Hawaii that pulls rates and matching offers from a curated network of licensed lenders (Rocket Mortgage, Loan Depot, Amerisave, Magnolia Bank, The Federal Savings Bank, Prosperity Home Mortgage). Borrowers complete one form including a soft credit inquiry, then receive side-by-side loan options.
- Refinance Matching Rate-and-term refinance matching service that connects existing U.S. homeowners with network lenders offering new loan terms to replace their current first mortgage.
- Cash-Out Refinance Matching Cash-out refinance matching service that lets a homeowner replace an existing mortgage with a larger loan and receive the difference in cash, using the home as collateral on the larger balance.
- Home Equity (HELOC) Matching Home equity line of credit (HELOC) matching service that lets an existing homeowner establish a revolving line of credit using the home as collateral, generally at lower rates than credit cards and often with tax-deductible interest.
- Mortgage Leads (B2B lead generation) Qualified mortgage lead delivery sold to participating lenders on a pay-per-lead basis. Lenders pay a referral fee for each matched borrower that meets agreed criteria.
- Live-Transfer Mortgage Leads Real-time, phone-transferred mortgage leads sold to participating lenders, delivering a pre-qualified borrower direct to the lender's loan officer at the moment of inquiry.
Quantifiable outcome
- Soft credit inquiry does not affect credit score when checking rates
- +1 more outcomes
Companies that use FreeRateUpdate.com LLC
Customer profileNamed customers6 records
Segments5 records
Ideal customer profiles3 records
FreeRateUpdate.com LLC technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
FreeRateUpdate.com LLC partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and minor.
- Rocket MortgagecoreFeatured lender partner displayed prominently on the FreeRateUpdate platform. Rocket Mortgage is featured with 4.5 out of 5 rating and 41099 verified reviews, positioning them as a top lender for refinance, cash-out refi, and home equity products.
- Loan DepotcoreFeatured lender partner offering home equity, HELOC, and mortgage products. Loan Depot has 4.6 out of 5 rating with 14594 verified reviews.
- Amerisave MortgageminorParticipating lender in the FreeRateUpdate network offering mortgage products to consumers.
- Magnolia BankminorParticipating lender in the FreeRateUpdate network offering mortgage products to consumers.
- The Federal Savings BankminorParticipating lender in the FreeRateUpdate network offering mortgage products for buying or refinancing homes.
- Prosperity Home MortgageminorParticipating lender in the FreeRateUpdate network offering mortgage products to consumers.
Scale indicators4 records
Recent moves5 records
Expansion highlights4 records
FreeRateUpdate.com LLC competitors and assessment
Company assessmentDirect peers
- LendingTree: LendingTree operates the largest online consumer lending marketplace in the U.S., matching borrowers with multiple lenders across mortgages, personal loans, and other credit products. It is the most direct analog to FreeRateUpdate's lender-matching model, though at much larger scale and with broader product coverage.
- Bankrate: Bankrate is a long-established financial comparison publisher that aggregates mortgage rates from lenders and monetizes via lead referral and affiliate arrangements. It directly competes with FreeRateUpdate for SEO-driven mortgage rate-shopping traffic and operates a similar content-plus-marketplace model.
- NerdWallet: NerdWallet operates a consumer finance content and comparison platform with a strong mortgage comparison vertical that connects users to lender partners. Its content-driven SEO acquisition and lender referral revenue model closely mirror FreeRateUpdate's approach.
- Credible: Credible is a consumer lending marketplace that lets borrowers compare personalized rates from multiple lenders via soft credit pulls for mortgages, student loans, and personal loans. Its soft-pull, multi-lender comparison mechanic is functionally identical to FreeRateUpdate's core experience.
- LowerMyBills: LowerMyBills (now part of LendingTree) historically operated as a consumer finance lead-generation service connecting shoppers with mortgage and other credit offers. Its lead-bundling and lender-bidding model is the same architectural template FreeRateUpdate uses.
Broad incumbents
- Zillow Home Loans / Zillow Marketplace: Zillow runs both an originator (Zillow Home Loans) and a marketplace that surfaces lender rates and connects shoppers to mortgage partners. Its consumer traffic, brand, and broad real-estate footprint make it a much larger incumbent in the same rate-shopping intent pool FreeRateUpdate targets.
Others
- Quicken Loans / Rocket Mortgage: Rocket Mortgage is both a customer (featured lender partner on FreeRateUpdate) and an indirect competitor via its own direct-to-consumer mortgage platform and brand. It is included here because its aggressive DTC stance is the primary structural risk to lead aggregators like FreeRateUpdate.
- LoanDepot: LoanDepot is a large retail mortgage originator with its own direct-to-consumer brand and call-center operation. Like Rocket, it sits on FreeRateUpdate's lender panel while simultaneously competing for the same rate-shopping traffic, making the relationship symbiotic but precarious.
Regional players
- Reliant Capital Solutions: Regional mortgage lead-generation brokers and referral outfits operate in overlapping state footprints but lack FreeRateUpdate's national SEO reach. Included as a regional peer illustrating the long tail of smaller lead-gen competitors rather than as a fully directly comparable company.
Emerging players
- Mortgage News Daily: Mortgage News Daily is a content-heavy mortgage rate-tracking site that monetizes through advertising and lender referral relationships. It competes with FreeRateUpdate primarily on the SEO/content side of the funnel and represents a content-first peer in the same niche.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat3 records
Key risks5 records
Key highlights6 records
Customer concentration
FreeRateUpdate.com LLC social profiles
Digital presenceFreeRateUpdate.com LLC compliance and trust
Trust signalCompliance3 records
FreeRateUpdate.com LLC financial estimates
Financial estimateRevenue estimate
Valuation estimate
FreeRateUpdate.com LLC leadership team
Management profileNumber of profiles
Profiles5 records
FreeRateUpdate.com LLC funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
FreeRateUpdate.com LLC M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about FreeRateUpdate.com LLC
What does FreeRateUpdate.com LLC do?
FreeRateUpdate.com LLC operates a free consumer-facing online mortgage marketplace that matches U.S. borrowers (continental U.S. and Hawaii) with a curated network of licensed mortgage lenders for purchase, refinance, home equity, cash-out refinance, home improvement, FHA, VA, and personal loan products. The company earns revenue through referral and lead-generation fees paid by participating lenders (including Rocket Mortgage, Loan Depot, Amerisave, Magnolia Bank, The Federal Savings Bank, and Prosperity Home Mortgage), not by charging the consumer. The platform also sells live-transfer leads and is a Licensed Mortgage Broker (NMLS #1154338) and Mortgage Originator (NMLS #1452444).
Is FreeRateUpdate.com LLC a public or private company?
FreeRateUpdate.com LLC is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was FreeRateUpdate.com LLC founded?
FreeRateUpdate.com LLC was founded in 2008. It employs 11 to 50 people.
Where is FreeRateUpdate.com LLC based?
FreeRateUpdate.com LLC is headquartered in Chadds Ford, United States, in the North America region.
How does FreeRateUpdate.com LLC make money?
Two revenue lines are on record. Lead Generation / Marketing Fees are the primary driver. The others are live Transfer Leads.
Who are FreeRateUpdate.com LLC's main competitors?
Direct peers on record are LendingTree, Bankrate, NerdWallet, Credible and LowerMyBills. Zillow Home Loans / Zillow Marketplace is listed as a broad incumbent. Others are Quicken Loans / Rocket Mortgage and LoanDepot. Reliant Capital Solutions is listed as a regional player. Mortgage News Daily is listed as an emerging player.
Does FreeRateUpdate.com LLC have an API?
No public API is recorded for FreeRateUpdate.com LLC.
What industry is FreeRateUpdate.com LLC in?
FreeRateUpdate.com LLC's product category is Online Mortgage Marketplace. Its primary akta.pro industry code is FSALABAJ, Mortgage Comparison, Marketplace & Rate-Shopping Platforms, with a secondary code of FSALABAI, Mortgage Lead Generation & Marketing Intermediaries. Its NAICS code is 522310 and its SIC code is 6163.