Best Mortgage Refinance Companies

Quicken Loans is a streamlined refinance lender with an "everywhere" reach and "everything" loan type offering that earned our best overall lender spot. It has a couple of ways to streamline the application process, including its online application through Rocket Mortgage and electronic loan closings.

Quicken's eClosing is an in-person/electronic hybrid of closing with either an in-person electronic notarization (IPEN) or a remote online notarization (RON). This greatly reduces paperwork. You can use it in all 50 states, but customers must use Quicken's sister company, Amrock, as their title provider. Typically, closing costs run between 3% and 6% of the property loan. 

Quicken also offers an array of loan options, including FHA, VA, conventional, HARP, Jumbo, 15- and 30-year fixed, and adjustable-rate mortgages. Loans are available for almost any type of home in all 50 states, and Quicken will consider loans with a minimum 620 credit score for conventional loans and 580 for an FHA loan.  

This longstanding Detroit, Michigan-based company was founded in 1985 and enjoys a top-rated reputation offering in-person customer service, online chat, and phone support.

Read the full Quicken Loans Review.

Nationwide Home Loans was a near-miss for best overall only because it operates in just eight states. As our best for all-in-one service, it guarantees the lowest rate. You’ll have a consultative experience as they listen to your goals and design terms that fit your needs with rates and fees lower than anywhere else.

Nationwide Home Loans offers terms from five to 30 years, including terms specific to each client because it's an in-house lender. It can write a custom loan for a 22-year term if you owe 22 years on your loan.

It bases loan prices on a combination of interest, credit, loan-to-value ratio (LTV), and debt-to-income ratio (DTI). The higher your credit score is, the lower your interest rate will be as a result. Nationwide will work with you to improve your credit score to get you qualified if you're outside this range.

Nationwide Home Loans defines excellent customer service as focusing on the customer and finding what works for each person’s unique goals. Additionally, its turn-times are much faster than the industry average.

It operates exclusively in California, Colorado, Texas, Idaho, Washington, Oklahoma, Montana, and North Dakota as of 2023.

Nationwide Home Loans has been around since the mid-90s and it's received nothing but 5-star reviews. The company’s founder has been lending since the 80s and offers a rare product line that most lenders don't provide.

The convenience and upfront transparency that AmeriSave has built into its online features earn the lender our vote for best customer service.

The customer can search interest rates, select the loan that suits them, and apply online or with a loan originator on the phone in three steps. There are no commitments or obligations to search for a loan and no hidden fees. Agents will schedule a closing at a location and time that are convenient for you after they've underwritten the loan. 

Loan options include fixed-rate, FHA, VA, USDA, cash-out, and adjustable mortgage rate (ARM) loans. Down payments can be as low as 3% for first-time buyers, and mortgage insurance is not required for those putting down more than 20% on a conventional loan.

Those seeking loans must have a credit score of at least a 580 for FHA loans and they must maintain their current job throughout the loan process. And those seeking a loan can't make other major purchases, such as a vehicle, during the process. 

AmeriSave began in Atlanta and it's licensed in all states except New York. It's funded more than $84 billion in loans and has financed more than 325,000 homes.

LenderFi owns the best online lender title with no lender fees, instant online approval, and the option to talk to a loan consultant by phone.

It offers many loan options for purchases and refinancing, including conventional FHA loans. It doesn't offer jumbo, VA, or USDA loans as of 2023 but it plans to in the future. LenderFi offers products for single-family homes, multi-family homes, condominiums, co-ops, townhouses, manufactured homes, and planned-unit developments.

LenderFi can close loans in as little as two weeks. It offers rate insurance if LenderFi rates drop as little as 0.25% from your current rate. LenderFi will rewrite your loan at no additional cost for the life of the loan. The qualifying factor is that you must make at least six current payments and this excludes prepaid interest.

LenderFi has been in business since 2006 and it offers competitive fees for a variety of loan options nationwide except in Hawaii, Missouri, Nevada, New York, and Utah.

This is a non-bank lender that cuts costs by using an interactive online system to streamline expenses and eliminate unnecessary fees. Based in Florida, LenderFi can process loans from origination to closing using its own finances so customers deal solely with one company from beginning to end.

Bank of America is our best bank for refinancing because it can refinance many loan types and it offers online, phone, and branch services. Interest on refinancing for a 30-year fixed-rate loan is 3.250% and 2.500% for a 15-year fixed-rate loan. A 5/1 ARM has an interest rate of 2.625%.

Current BOA customers can qualify for a reduction of up to $600 in closing fees when it refinances. The bank also offers online mortgage applications to get pre-qualified, pre-approved, and lock in your rate through its website or mobile app. 

Those seeking to refinance into a BOA loan must have a credit score of at least 620 for a conventional loan, 640 for an FHA loan, and 660 for a VA loan.

Bank of America is a traditional bank option offered in all 50 states. Interest rates start at 2.500% and can go up to 3.250%. This is a traditional bank so customers can expect to produce much more personal documentation than with alternative lenders. This can include employment information, tax returns, and other papers related to your current property.

Bank of America is one of the world’s largest banks with an established reputation for stability.

Read the full Bank of America Review.

Alliant can help you maximize your savings when you're trying to refinance your loan saddled with mortgage insurance into a lower rate and payment. It will waive the insurance, making it our favorite choice among credit unions.

Alliant offers several mortgage loan options with personalized service from one of their mortgage experts, including free customized quotes and rate locks for 90 days on refinancing. Alliant offers mortgage financing nationwide.

Founded in 1935 in Chicago, Illinois, Alliant Credit Union carries $12 billion in assets for 500,000 customers and it's grown to be one of the largest credit unions in the country. Alliant Credit Union serves its customers completely online and has live phone representatives available 24/7. It has 80,000 fee-free ATMs across the country.

Deservedly our best for fees, Better.com has a quick, easy mortgage refinance process that offers you the lowest closing costs with three-minute pre-approvals and three-week closings. You'll save on costs because there are no application, underwriting, or origination fees. It offers instant loan estimates and transparency. Better.com also offers title and homeowners' insurance.

Its refinance rates range is on the lower end, but you'll have to buy points to hit the lowest rates. Their refinance products don't include adjustable-rate products, FHA, or other government-backed mortgage programs. Better.com refinances in every state provided that you meet their minimum 620 credit score requirement.

Better.com started in 2014 and partnered with California originator Avex Funding, which specialized in both prime and jumbo mortgages. Better.com acquired Avex Funding in 2015 and began offering digital loans.

It's approved as a Fannie Mae seller and servicer, can offer FHA loans, and has relationships with 17 top mortgage investors like Goldman Sachs, American Express, and Citibank, making it easy to offer several different products for its customers.

Better.com has dropped jumbo mortgage servicing to concentrate on loans aimed at low- to median-income customers since it acquired Avex.

One of the top VA loan lenders, Navy Federal Credit Union (NFCU), can do so much more than simply offering the VA loan program to veterans who want to refinance their mortgages. With programs like Military Choice, rate match guarantee, and rate lock, Navy Federal is our favorite choice for veterans.

Their Military Choice program provides similar rates and terms to the VA loan program for those who have used their VA loan benefit. Rate lock keeps your rate the same during the application process if rates rise. You'll have 60 days to relock if rates fall at the lower rate.

Their VA loans carry interest rates as low as 2.250% and APRs as low as 2.718% with 10- to 30-year terms. These rates require a 1% loan origination fee, but that can be waived for a 0.25% increase in interest rate if you choose. A $250,000 VA loan refinanced to 15 years at 2.250% interest and 2.718% APR will have a monthly principal and interest payment of $1,637.

Their Military Choice program has interest rates as low as 4%, APRs as low as 4.276%, and 16- to 30-year terms. While not as low as the VA loan, this is a very competitive refinance program for veterans who have exhausted their VA loan option.

You must be a Navy Federal Credit Union member to qualify for their refinance programs. You can qualify to join NFCU if you fall into one of these categories:

• Active duty, retired, or veterans of any branch of the U.S. armed forces
• Families and members of those individuals' households (includes grandparents and grandchildren) 
• Department of Defense employees, contractors, retirees, and annuitants 

NFCU performs thorough underwriting, so it considers everything from earnings and debt to loan repayment history. It doesn't have a set credit minimum, but the lowest mortgage interest rates are reserved for applicants with credit scores of at least 740 and a debt-to-income ratio (DTI) below 36%. 

Most home types qualify, including mobile and manufactured homes, but the home must be permanently fixed to the land. Wheels, axles, and hitches must be removed It must have permanent water and sewer connections.

Customer service options include 24/7 phone support, online chat and social media, secure email, and in-person at a branch. NFCU lends in 50 states and has branches worldwide wherever there's a military installation.

Navy Federal Credit Union was formed in 1933 and has grown to 10 million member-owners. The not-for-profit company was rated the Most Reputable Company in Financial Services for 2019 by Reputation Institute and ranked number one for Customer Experience Among Multi-Channel Banks and Credit Unions in Forrester's 2019 U.S. Customer Experience Index survey.

Read the full Navy Federal Credit Union Review.