What It Does

Lendtrain is a free mortgage refinance calculator that provides real-time wholesale mortgage rates from lenders in approximately 30 seconds. The platform allows homeowners to check refinance rates for conventional, FHA, and VA loans without requiring a credit check or formal application upfront. Users can compare their current mortgage against available refinance options to understand potential savings.

Key Features & Capabilities

• Instant Rate Quotes: Get estimated refinance rates in 30 seconds based on your self-reported credit score
• Automated Data Entry: Upload your mortgage statement to automatically populate rate, balance, and loan type information
• Comprehensive Savings Analysis: View estimated monthly payment reductions, breakeven timeline on closing costs, and total interest savings over the loan's lifetime
• Multiple Loan Types: Support for conventional, FHA, VA, FHA Streamline, and VA IRRRL refinance options
• Transparent Pricing: See estimated closing costs upfront before committing to an application
• No Credit Impact: Rate quotes don't require a hard credit inquiry

Who It's For

Lendtrain serves homeowners looking to refinance their existing mortgages to lower their interest rate, reduce monthly payments, or change loan terms. It's particularly useful for borrowers who want to explore refinance options without the hassle of traditional mortgage shopping or the risk of multiple credit inquiries.

Typical Workflow

Users begin by entering basic mortgage details or uploading their current mortgage statement. The platform then pulls live wholesale rates matching their specific scenario and displays monthly savings projections. After reviewing the numbers, users can choose to lock their rate and complete an online application—all without visiting a branch. The entire refinance process typically takes 30–45 days from application to closing.

What Sets It Apart

Lendtrain differentiates itself by offering genuine wholesale rates rather than estimates, providing transparency into closing costs before application, and eliminating the need for credit checks during the rate shopping phase. The platform has facilitated over $1 billion in mortgage funding and operates as a licensed mortgage lender (NMLS #1844873) across 10 states.