Loan aggregators have become a hot service in the internet age. And that's a good thing – if you are shopping for a loan, mortgage, or refi, doesn't it make sense to compare lenders? But not all loan aggregators are equal – some are good, some are bad, and some fall in the middle. Where does Bills.com land? Let's find out.
In business since 2006, Bills.com was an early entry into the loan aggregator market. They've had the time to truly hone their offerings, and, amongst other benefits, offer a speed that is impressive. The company can get you multiple offers by multiple lenders quickly and efficiently, which is what most mortgage and loan shoppers are looking for.
The website is large and informative, with many topics and loan types. Looking for an FHA loan? They have them. HARP refinance? Sure. 30 year fixed rate? Yup. 15 year? Of course. ARM in varying terms? No problem.
The company was started with the goal of demystifying the loan process, and on that front, they've succeeded by making applying for a mortgage or loan simple and intuitive.
They have one of the better Question and Answer interfaces I've seen. In doing these reviews, I used a lot of them, and Bills.com ranks amongst the best. It's very intuitive, easy to follow, and it simply works very well. It gives me confidence as I'm answering the questions – the company has obviously invested in their engine and "back end", because it's so smooth.
Like a few others, they also don't require a Social Security Number to begin the loan process. In this day and age of cyber security and privacy concerns, that's always good.
I also found the site overall easy to understand and navigate. They have tools, from the expected rate calculators to information on how to repair your credit, and I found myself bouncing around from topic to topic, enjoying the info provided. It's not as comprehensive as some other aggregators sites (like Lending Tree), but bills.com is no slouch either.
There are a few. One thing I noticed is there's almost "too much information", and it's all lumped together. For example, I click on "credit score", somewhat expecting to see a tool to get my credit scores. And it's there – buried halfway down the page after a ton of articles and blog posts. I'd rather see that stuff under "blog" or "credit articles" or similar.
Likewise, when I click on mortgage, I'm hit with info, but no clear way to start the application process. This is a shame – they have such an easy Q&A process, but they kind of hide it. I'd like to see a clearer path to "info over here, apply over here".
For one type of loan (Mortgage), I started the process, but quickly found myself with a "Quicken Loans" logo at the top of the page. I didn't "choose" Quicken Loans anywhere – was I being forced into them? I don't know, but it did bug me a little.
Lastly, some info is out of date. For example, on their HARP Refinance page, they state HARP will end in 2015. Which is good, but it's 2017 as I write, and yes, HARP was extended. I realize much of the info hasn't changed (making this a low priority task), but still, someone could update that page.
Like most others, they have an A+ Rating with the BBB, but they also have an internal rating by the BBB of 4.67 out of 5 stars. That's really good – it means a lot of positive reviews, and that they handle complaints. They are also in the INC. 500, have been voted one of the Best Places to Work in the Bay Area, and have won the Ernst and Young Entrepreneur of the Year award. I'm also impressed by their "about" page. Maybe I'm easily swayed, but I like it when a company shows us their executives. It puts a human face on everything, and I appreciate that.
Overall, I liked Bills.com. I found their Q&A to be one of the more complete and easier ones to use, and I also appreciated all of the information they offered. Truthfully, most of my negatives could be addressed with a good web specialist making the site a little clearer between information, tools, and application start. But in the end, Bills.com is a competent loan aggregator that gives you many name-brand lender, and are worth your time if loan shopping.