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HomeEquityQuiz Review 2022: Is It Worth Your Time?

HomeEquityQuiz connects you with lenders in less than five minutes. The application process is simple, and gives you access to a large network of mortgage partners.

6.5 / 10
Editorial Score
Andrew Koopman
Finance Writer
June 28, 2022


HomeEquityQuiz is a website that helps you find purchase mortgages or mortgage refinancing loans. The site connects you with lenders matching your criteria from nearly 250 network partners.

HomeEquityQuiz is free and you can complete the streamlined application process online in just a few minutes. You don’t even have to upload documents for verification. The platform shares your contact information with matching lenders that offer conventional, FHA, and VA mortgages and mortgage refinancing options.

To get you the most accurate information about the platform, I tested HomeEquityQuiz myself.  From the company’s services to its application process and customer support, I’ll outline my experience to answer all of your questions about HomeEquityQuiz.

6.5 / 10
Editorial Score
Quick view:
Editorial Score
6.5 / 10
Online Services
Applications, Quote management, etc.
5.0 / 10
Customer Service
0.0 / 10
Available in all states
6.2 / 10
Available loan types
7.0 / 10
7.5 / 10

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Products & Services

Whether you’re in the market to buy a new home or you want to find better rates and terms through mortgage refinancing, HomeEquityQuiz may help you connect with the right lender.

Purchase Mortgages

A mortgage is the standard loan type used on most property purchases. HomeEquityQuiz will match you with lenders that offer purchase mortgages you can use to buy a primary residence, vacation home, or investment property. With the extensive lender network, you can potentially find some of the best rates and terms on the market.

You’ll be asked to provide some general information about yourself and your mortgage needs. The process is explained in detail later in this review. You’ll also need to state the amount you want  to borrow, your planned down payment, and whether you’ve already found a property.

While combing through your loan offers, you’ll likely receive a range of loan types, rates, and terms. The type of loan dictates the minimum down payment. Conventional loan down payments can be as low as 3% of the mortgage amount, FHA is typically 3.5%, and VA loans require no down payment.

You’ll need a credit score of 580 or higher to qualify for an FHA loan and at least 620 for a conventional loan. HomeEquityQuiz recommends a credit score of 680 or higher to get the best rates. The site does not perform a hard inquiry, so your credit won’t be affected until you choose a lender and go through the loan underwriting process.

Apply for a Mortgage with HomeEquityQuiz

Mortgage Refinancing

A mortgage refinance is a new loan that pays off and replaces your existing mortgage, typically with the goal of locking in better rates and terms. With HomeEquityQuiz, you will be matched with lenders that offer mortgage refinancing terms between 10 and 40 years. You’ll also get to choose whether you want the offers to include fixed rates, adjustable rates, or both.

To apply for a mortgage refinance, you’ll be asked to state your current home’s value, the balance and interest rate on your existing mortgage and second mortgage (if applicable), and if you want a cash-out refinance. Otherwise, the application is the same as for a purchase mortgage.

As mentioned above, some lenders in the network offer cash-out refinancing. This type of funding takes advantage of the equity in your home by giving you a new mortgage for more than the remaining balance of the existing mortgage. This turns a portion of the equity in your home into cash, typically at a lower interest rate than other loans offer.

Mortgage refinancing loans through HomeEquityQuiz usually require at least 20% equity in your home. You’ll also need to have a minimum credit score of 580 for an FHA loan and 620 or higher for a conventional or VA loan. This type of funding rarely requires a down payment.

Apply for Mortgage Refinancing with HomeEquityQuiz

Rates and Terms

HomeEquityQuiz does not provide rates or terms itself as they are set by each lender. The final rates and terms depend on the loan type, your credit score, verification of all the information you provided, where the property is located, and other aspects of your financial situation.

Once you start working with a lender, you’ll likely have to pay fees outside of HomeEquityQuiz. Some common fees include:

  • Application fee
  • Origination fee
  • Settlement fee
  • Appraisal fee
  • Title and recording fees

While these fees may be small compared to the total loan amount, consider budgeting at least 1-3% of the total loan amount to cover any fees associated with your loan.

Application Process and Qualifications

Applying for any type of mortgage through HomeEquityQuiz is straightforward. You can complete the preapproval application on any computer, smartphone, or tablet in less than 5 minutes. While the process is nearly identical for either type of financing, I have noted differences in the list below:

  • Property type
  • Your credit score
  • Value of your current home
  • Amount that you’re you want to borrow
  • How much you plan on using as a down payment (purchase mortgages)
  • If you’ve found a property to purchase (purchase mortgages)
  • Remaining balance on the existing mortgage (refinancing)
  • Interest rate on existing mortgage (refinancing)
  • Whether you have a second mortgage (refinancing)
  • If you want to cash out the additional equity (refinancing)
  • If you want fixed or adjustable rates
  • If you’ve filed for bankruptcy or been foreclosed on in the past 3 years
  • If you have the ability to verify your income
  • Number of late payments in the past year
  • Active or previous military status (for VA loans)
  • Your current address
  • Legal name
  • Email address
  • Phone number

One of the best reasons to use HomeEquityQuiz over other platforms is that you can estimate certain values and don’t have to upload any verification documents during the application. As a result, you can see rates and terms quickly with fewer steps than competitors require.

The only qualification to use HomeEquityQuiz is a credit score of at least 560. If you select a lower credit score option, your application immediately gets canceled and you’ll be redirected to a page telling you to raise your credit to 680 for the best rates.

Once you hit submit on the final screen, HomeEquityQuiz will forward your contact and financial information to its network of lenders. From this point, you should expect to get regular calls and emails with loan offers. If you don’t want to deal with this level of daily contact, you may want to consider a different platform.

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Approval Time

HomeEquityQuiz is not a direct lender and does not continue to work with you once you contact a lender.

As long as you meet the minimum requirements discussed above, you will immediately be preapproved by HomeEquityQuiz. Once preapproved, expect to start getting phone calls and emails with offers from lenders within 1-2 days. Note that preapproval through the platform does not guarantee final approval on your loan.

Approval times vary by lender, so each situation is different, but the industry average for approval on mortgages and mortgage refinancing is about two weeks. You should be able to close on a mortgage or refinance loan within 30 days of completing your application.

Customer Service

One of the key things that I look for in a lender is how well the company or platform treats its customers. It’s important to have an idea of what to expect if you have any issues or concerns. I try to reach out to the company using as many contact methods as possible.

Unfortunately, HomeEquityQuiz does not have phone support, email support, or live chat listed anywhere on the site. The only way that you can contact the platform is by filling out the online form below.

Customer Service

As you can see, this fairly basic form doesn’t give you many options for discussing your issue(s) and no timetable for how long it will take them to get back to you. Upon submitting this form, I was directed to a new page with the message below.

Customer Service

Using the link provided in this message to contact the customer care team simply directs you back to the form, which leads to this same message again. With no other ways to contact the platform and no response from the online form, I cannot score HomeEquityQuiz’s customer service as anything but zero.


HomeEquityQuiz’s network of lenders offers purchase mortgages, standard mortgage refinancing, and cash-out refinancing options. You should start getting offers within 1-2 days after applying for preapproval. Overall, the platform is fast and easy to use.

This platform only passes your information to its network of lenders. Once the lenders have your contact information, it’s nearly impossible to stop the daily phone calls and emails you receive.  HomeEquityQuiz is also not rated or accredited by the BBB, and its parent company (Leadpoint, Inc.) is poorly rated with negative reviews.

While it could be an option if you just want to see as many loan offers as possible, HomeEquityQuiz is not for everyone. To see home loan offers without being subjected to spam calls and emails, I recommend using platforms like Credible, LendingTree, and Discover Home Loans instead.


Is HomeEquityQuiz legit?

Even though it is not accredited or rated by the Better Business Bureau, HomeEquityQuiz is a legitimate platform that connects you with mortgage lenders. The company does not claim to do anything more than it provides. You will be matched with lenders upon completing your application.

Is HomeEquityQuiz a direct lender?

No, HomeEquityQuiz is not a lender or broker of any kind. The only thing that the platform does is match you with lenders from its network using your provided information.

Does HomeEquityQuiz charge any fees?

HomeEquityQuiz is entirely free, with no fees for using the site or its services. Once you begin sifting through loan offers and speaking with the lenders directly, fees may be involved.

Andrew Koopman
Written by

Andrew Koopman is a freelance finance writer. He's written hundreds of articles over the years, specializing in topics such as improving credit, paying off debt, and applying for loans. Andrew graduated from Miami University with a Master's degree in mechanical engineering. He loves watching sports and enjoying the great outdoors with his friends and family.

  • Free to use
  • Mortgage lenders compete for your business
  • Initial inquiry does not affect your credit
  • No way to contact customer support for issues
  • Fees vary by lender and are not posted on the website
  • No pre-qualification process to see accurate rates
Bottom Line

HomeEquityQuiz is designed to cut down on the time to shop around for mortgages and mortgage refinancing options. Thanks to its large network of lenders, it’s an option for anyone looking to compare rates on conventional, FHA, and VA loans.

While it’s free to use and the application process is simple and straightforward, HomeEquityQuiz doesn’t offer anything more than passing your information to lenders and sending you a list of matching offers. Once your contact information is shared, prepare to receive multiple phone calls and emails with offers every day.