Best Mortgage Refinance Companies

We considered a number of factors when choosing our top five best mortgage refinancing companies, prioritizing lenders that have a reasonable origination fee, competitive mortgage rates, and other favourable qualities. We wanted our best refinance lenders to offer different terms, both fixed-rate and adjustable-rate options, to accept lower loan-score minimums, and to fund different types of homes. We benchmarked the best refinance companies and came up with a list of top companies, including Rocket Mortgage from Quicken Loans (best overall), Bank of America (best for member discounts), and LoanDepot (best for online convenience). Personal Finance Insider chose lenders who offer different mortgages that you can refinance and that received A+ ratings from the Better Business Bureau, except for Navy Federal Credit Union and Guild Mortgage, which are both currently undergoing a review of their BBB profiles.

Refinancing loans is a high priority for these five mortgage lenders, so you can trust they have the knowledge and experience to help you find the best loan for you. The best lender for you will come down to your personal finances, what kind of loan you need, and your refinancing goals.

The only way to find the best rates when refinancing is to shop around among multiple lenders. Just because a lender offered a better rate or lower fees when you got your original mortgage does not necessarily mean they will provide the best deal when you refinance. You may refinance with your lender and renegotiate your current loan terms, but it is still smart to shop around and get a quote on a loan from a few lenders, as well as research current mortgage rates.

It may be a good time to think about refinancing when interest rates have fallen below where they were when you got your current loan–ideally, between a half-point and three-quarters of a percentage point lower. The best time to refinance a mortgage is when the interest rate is lower than what you locked in at closing on your mortgage. Refinancing your mortgage is a good idea under a number of circumstances, such as if you had an adjustable-rate mortgage and the lender offered you an option to switch to a fixed-rate, so you would have a predictable principal-and-interest payment over the life of your loan. You may not be able to negotiate interest rates, but you might be able to convince your mortgage broker to waive or lower upfront origination fees or other closing costs associated with setting up the mortgage, which could help save you money.

Customers can refinance into all the standard types of loan products, as well as view useful mortgage information and available interest rates, online. Rocket Mortgages digital online platform provides refinancing mortgage customers with information on rates online, as well as numerous refinancing articles that will help keep them informed on the various types of refinancing. The bank offers standard refinancing options across loan types, and its website features an online application option, useful articles and product information related to mortgages, and rates. U.S. Bank offers refinancing for home loans both in-house and through its correspondent lender network in all 50 states.

Zillow offers a wide-ranging mortgage lending marketplace, helping customers connect with lenders throughout the U.S. You will find mortgage refinance options from banks, brokers, credit unions, and Zillows own lender, Zillow Home Loans. AmeriSave is one of the best mortgage lenders, as AmeriSave takes customers through the mortgage refinancing process completely online, providing a convenient, quick experience.

Additionally, Freedom Mortgage is very knowledgeable about home refinancing loans — specifically, VA and FHA home loans, which they are among the largest lenders in the country. Reali was previously known as Lenda, but Reali has merged with a real estate brokerage firm and now offers not only refinance loans, but assistance with buying and selling homes. Rocket Mortgage is an online lender of Quicken Loans, one of the largest mortgage lenders in the United States. We have ranked the Detroit-based company among the best mortgage refinance lenders due to its easy online application process, its broad national presence, the low rate of consumer complaints, transparency and affordability of its rates and fees, and the companys broad range of mortgage lending products, including refinancing products. PennyMac Loan Services stands out because of its easy online application process, the ability to receive a quote on rates without credit checking, the transparency of rates and fees, and the low rate of consumer complaints to the CFPB.

Along with Truist Banks robust lineup of homebuying and refinancing products, user-friendly online application process, transparency of rates and fees information, and middling complaints compared with other reviewed refinancing lenders, the brands website is easy to navigate, featuring some helpful resources that can assist in the refinancing process, like calculators, videos, and sample mortgages. However, the brand was named as a Top Mortgage Refinance Lender by NextAdvisor, because the company received high marks for its online convenience, rate and fee transparency, and national accessibility. Rocket Mortgage by Quicken Loans (NMLS#3030) is our overall best mortgage refinance lender due to a stellar track record in customer satisfaction, extensive digital software, and online customer service.

To determine the best mortgage refinance lenders, our editorial team evaluated lenders on multiple criteria, including costs (competitive rates and low or no fees), loan processing times, scope of refinancing offerings, borrower incentives, and customer satisfaction. If you are looking for a way to lower your current mortgage rates, pay down your balance more quickly, or use the equity in your home for a better purpose, LendingTrees list of the best refinance lenders is useful. Mortgage and finance experts have also provided tips on whether the time is right for refinancing, and what types of refinances are best. Our editorial team mortgage reporters and editors cover the points consumers care most about–the latest rates, best lenders, navigating the homebuying process, refinancing, and more–so that you can be confident as you make decisions as a homebuyer and homeowner.

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