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Insider’s experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our our partners, however, our opinions are our own. Terms apply to offers listed on this page.

Refinancing your mortgage can be a great way to secure a better interest rate, lower your monthly payments, get rid of mortgage insurance on an FHA mortgage, or tap into your home’s equity.

Insider’s Featured Mortgage Lenders

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Our favorite mortgage refinance lenders thrive in customer satisfaction and have other features that help them stand out, such as offering loans with low minimum credit scores or having a hybrid digital closing option.

Best overall

Rocket Mortgage Refinance by Quicken Loans


Types of Loans Offered

Conventional, cash-out, FHA, VA refinancing

Quicken Rocket Mortgage Refinance by Quicken Loans

Rocket Mortgage Refinance by Quicken Loans


Types of Loans Offered

Conventional, cash-out, FHA, VA refinancing


Types of Loans Offered

Conventional, cash-out, FHA, VA refinancing

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Best for veterans

Veterans United Veterans United Mortgage Refinance

Veterans United Mortgage Refinance


Types of Loans Offered

Conventional, cash-out refinance, VA, FHA, USDA refinance

Veterans United Veterans United Mortgage Refinance

Veterans United Mortgage Refinance


Types of Loans Offered

Conventional, cash-out refinance, VA, FHA, USDA refinance

On Veterans United’s website


Types of Loans Offered

Conventional, cash-out refinance, VA, FHA, USDA refinance

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Best for digital closing

Bankrate Fairway Independent Mortgage Corporation - Mortgage Refinance

Fairway Independent Mortgage Corporation – Mortgage Refinance


Types of Loans Offered

Conventional, cash-out, FHA, VA refinancing

Bankrate Fairway Independent Mortgage Corporation - Mortgage Refinance

Fairway Independent Mortgage Corporation – Mortgage Refinance


Types of Loans Offered

Conventional, cash-out, FHA, VA refinancing


Types of Loans Offered

Conventional, cash-out, FHA, VA refinancing

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Best online

Bankrate Guild Mortgage Refinance


Types of Loans Offered

Conventional, cash-out, FHA, VA, USDA refinancing

Bankrate Guild Mortgage Refinance


Types of Loans Offered

Conventional, cash-out, FHA, VA, USDA refinancing


Types of Loans Offered

Conventional, cash-out, FHA, VA, USDA refinancing

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Best for existing customers

Bankrate US Bank Mortgage Refinance

US Bank Mortgage Refinance


Types of Loans Offered

Conventional, cash-out, FHA, VA refinancing

Bankrate US Bank Mortgage Refinance

US Bank Mortgage Refinance


Types of Loans Offered

Conventional, cash-out, FHA, VA refinancing


Types of Loans Offered

Conventional, cash-out, FHA, VA refinancing

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Best for low credit scores

Bankrate Carrington Mortgage Services Refinance

Carrington Mortgage Services Refinance


Types of Loans Offered

Conventional, cash-out, FHA, VA, USDA, Carrington Flexible Advantage

Bankrate Carrington Mortgage Services Refinance

Carrington Mortgage Services Refinance


Types of Loans Offered

Conventional, cash-out, FHA, VA, USDA, Carrington Flexible Advantage


Types of Loans Offered

Conventional, cash-out, FHA, VA, USDA, Carrington Flexible Advantage

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Best for customizable terms

New American Funding New American Funding Mortgage Refinance

New American Funding Mortgage Refinance


Types of Loans Offered

Conventional, cash-out, FHA, VA refinancing

New American Funding New American Funding Mortgage Refinance

New American Funding Mortgage Refinance


Types of Loans Offered

Conventional, cash-out, FHA, VA refinancing

On New American Funding’s website


Types of Loans Offered

Conventional, cash-out, FHA, VA refinancing

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Best for a simple application process

Bankrate NBKC Bank Mortgage Refinance

NBKC Bank Mortgage Refinance


Types of Loans Offered

Conventional, cash-out, FHA, VA refinancing

Bankrate NBKC Bank Mortgage Refinance

NBKC Bank Mortgage Refinance


Types of Loans Offered

Conventional, cash-out, FHA, VA refinancing


Types of Loans Offered

Conventional, cash-out, FHA, VA refinancing

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Best credit union

Bankrate Navy Federal Credit Union Mortgage Refinance

Navy Federal Credit Union Mortgage Refinance


Types of Loans Offered

Conventional, cash-out, VA refinancing

Bankrate Navy Federal Credit Union Mortgage Refinance

Navy Federal Credit Union Mortgage Refinance


Types of Loans Offered

Conventional, cash-out, VA refinancing


Types of Loans Offered

Conventional, cash-out, VA refinancing

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Bankrate Chase Mortgage Refinance


Types of Loans Offered

Conventional, cash-out, FHA, VA refinancing

Bankrate Chase Mortgage Refinance


Types of Loans Offered

Conventional, cash-out, FHA, VA refinancing


Types of Loans Offered

Conventional, cash-out, FHA, VA refinancing

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Best for no lender fees

Network Capital Funding Network Capital Funding Mortgage Refinance

Network Capital Funding Mortgage Refinance


Types of Loans Offered

Conventional, cash-out, FHA, VA, non-QM

Network Capital Funding Network Capital Funding Mortgage Refinance

Network Capital Funding Mortgage Refinance


Types of Loans Offered

Conventional, cash-out, FHA, VA, non-QM

On Network Capital Funding’s website


Types of Loans Offered

Conventional, cash-out, FHA, VA, non-QM

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Best for financing a renovation

Northpointe Bank Northpointe Bank Mortgage Refinance

Northpointe Bank Mortgage Refinance


Types of Loans Offered

Conventional, cash-out, FHA, VA, USDA jumbo, renovation, non-warrantable condo, doctor, investment property, All In One, EquityBuilder, Expanded Portfolio

Northpointe Bank Northpointe Bank Mortgage Refinance

Northpointe Bank Mortgage Refinance


Types of Loans Offered

Conventional, cash-out, FHA, VA, USDA jumbo, renovation, non-warrantable condo, doctor, investment property, All In One, EquityBuilder, Expanded Portfolio

On Northpointe Bank’s website


Types of Loans Offered

Conventional, cash-out, FHA, VA, USDA jumbo, renovation, non-warrantable condo, doctor, investment property, All In One, EquityBuilder, Expanded Portfolio

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Comparing the best mortgage refinance lenders

Rocket Mortgage (jump to Rocket Mortgage details»)

Rocket Mortgage ranked as the top lender for customer satisfaction from J.D. Power for 11 consecutive years, and ranked No. 2 in 2021. It provides a quick, easy online experience and offers mortgages with terms as short as eight years.

Rocket Mortgage currently has an A+ rating from the BBB. 

Veterans United (jump to Veterans United details»)

A top VA loan lender, Veterans United is notable for its exceptional customer service, earning a high score in J.D. Power’s 2021 Primary Mortgage Origination Satisfaction Study. However, it doesn’t qualify to rank in the study because it doesn’t meet certain criteria.

Veterans United has an A+ rating from the BBB.

Fairway Independent Mortgage Corporation (jump to Fairway Independent Mortgage Corporation details»)

Fairway Independent lets borrowers have a hybrid or fully remote closing. With a hybrid closing, you can sign most of your documents digitally, and have a quicker in-person closing appointment. In some states, the entire process can be completed digitally.

This lender has an A+ rating from the BBB.

Guild Mortgage (jump to Guild Mortgage details»)

Guild Mortgage offers a hybrid digital closing option that can help you have a faster closing experience. It currently has an A- rating from the BBB. In 2021, Guild earned the No. 1 spot on J.D. Power’s customer satisfaction study.

US Bank (jump to US Bank details»)

If you already have a mortgage or account with US Bank, you may be able to get up to $1,000 off your closing costs if you refinance through this lender. If you’re looking for a VA mortgage, US Bank lends these to borrowers with credit scores as low as 600, which is lower than what many other VA lenders require.

This lender has an A+ rating from the BBB. It ranks below average on J.D. Power’s customer satisfaction study.

Carrington Mortgage Services (jump to Carrington Mortgage Services details»)

Carrington offers several mortgages that have flexible credit guidelines, including its Carrington Flexible Advantage Refinance mortgage, which allows credit scores as low as 550 and recent negative credit events like bankruptcy.

Carrington has an A+ rating from the BBB.

New American Funding (jump to New American Funding details»)

New American Funding’s I CAN mortgage lets you choose any mortgage term length from eight to 30 years. This is especially useful for borrowers looking to refinance, because it allows you to pick up where you left off with your previous mortgage in terms of how many years you had left on it.

New American Funding has an A+ rating from the BBB.

NBKC Bank (jump to NBKC Bank details»)

NBKC Bank’s online chat feature makes it easy to connect with an expert and get your questions answered quickly. It currently has an A+ rating from the BBB.

Navy Federal Credit Union (jump to Navy Federal Credit Union details»)

Navy Federal earned a high score in J.D. Power’s 2021 customer satisfaction study. However, because it doesn’t meet certain criteria, it didn’t receive a ranking. You can apply using alternative credit data with this lender.

You can only become a member of Navy Federal Credit Union if you or your family is affiliated with the military, you are a Department of Defense civilian personnel or contractor, or you live with a Navy Federal member. The BBB gives Navy Federal an NR rating because the business is currently responding to previously closed complaints.

Chase (jump to Chase details»)

Chase has a good number of mortgage refinance options to choose from. It also offers advanced tools to see customized rates and payments online, making it easy to compare multiple mortgage options and find the one that’s right for you.

Chase has a A- rating from the BBB. It ranked below average in J.D. Power’s 2021 customer satisfaction study.

Network Capital Funding (jump to Network Capital Funding details»)

Network Capital charges no lender fees, which can help keep your refinancing closing costs down. It also offers non-qualified mortgage options for borrowers who need to use alternative methods to qualify, such as using bank statements to show income rather than the typical tax documents.

This lender currently as an A+ rating from the BBB.

Northpointe Bank (jump to Northpointe Bank details»)

Northpointe Bank has flexible credit guidelines on several of its mortgages, making it a good option for borrowers with rocky credit histories or those with little equity in their homes. 

Northpointe Bank currently has an A+ rating from the BBB.

Mortgage refinance lenders that didn’t make the cut and why:

We looked at over two dozen mortgage lenders that refinance loans. Here are the ones we didn’t choose as our favorites:

  • USAA: This is a good option for refinancing VA loans, but it won’t work for any other types of mortgages.
  • Truist: You might like refinancing with Truist, but ranks low in customer service according to J.D. Power.
  • Regions: You might like using Regions, but the bank only has branches in certain parts of the US.
  • Citibank: This bank received good customer satisfaction ratings from J.D. Power, but an F in trustworthiness from the BBB.
  • Wells Fargo: Due to some recent scandals, Wells Fargo has received an F rating from the BBB.
  • Better.com: A good option if you want a to refinance into a conventional or FHA loan with an easy-to-use online lender, but Better.com doesn’t let you refinance into a USDA or VA loan.
  • SoFi: SoFi is another worthwhile choice for conventional mortgages, but you can’t refinance into an FHA, USDA, or VA loan.
  • Freedom Mortgage: You can refinance into several types of mortgages with Freedom, but J.D. Power ranks it low for customer service.
  • Guaranteed Rate: You might like Guaranteed Rate, but it only has an A- rating in trustworthiness.
  • Loan Depot: Loan Depot isn’t accredited by the BBB, and you can’t refinance into a USDA loan.
  • Caliber Home Loans: You can find lenders with better customer satisfaction ratings from J.D. Power.
  • Paramount Bank: You might like Paramount as an online lender, but it doesn’t offer as many mortgage refinance types as our top picks.
  • Pennymac: You can refinance into several types of loans with Pennymac, but the lender ranks low on J.D. Power’s customer satisfaction survey.
  • Flagstar Bank: This bank has received an A+ from the BBB, but J.D. Power ranks it pretty low on customer satisfaction.
  • Alliant Credit Union: This is a good online lender, but you can’t refinance into FHA, VA, or USDA loans.
  • Mr. Cooper: This lender offers a few refinance options, but J.D. Power ranks below average for customer satisfaction.
  • Bank of America: Bank of America offers a discount on its mortgages for existing customers, but you need a relatively high account balance to qualify.
  • PNC Bank: PNC Bank is a solid lender for first-time homebuyers thanks to its homeownership grant, but its refinancing options and features aren’t as strong as some of the other lenders we considered.

Are these mortgage refinance lenders trustworthy?

The Better Business Bureau grades companies from F to A+. Grades are based on responses to customer complaints, honesty in advertising, and transparency about business practices. Here are the BBB grades for our top mortgage refinance companies:

Almost all of our top picks have an A+ from the BBB. The exceptions are Guild Mortgage, Chase, and Navy Federal.  The BBB says that it gave Guild Mortgage and Chase an A- rating rating due to government actions taken against the businesses. Meanwhile, Navy Federal has an NR (“No Rating”) because it is responding to customer complaints. 

Several of these lenders do have recent public controversies, though, even the ones with great BBB grades.

The US Justice Department required Rocket Mortgage’s parent company Quicken Loans to pay $32.5 million for alleged mortgage fraud in 2019. The Justice Department claimed Quicken Loans approved mortgage applications it shouldn’t have. The company never admitted to mortgage fraud, although it did pay the settlement.

A Navy Federal employee has claimed the lender pressured mortgage underwriters to approve loans even if they didn’t have sufficient reason to believe applicants could repay the loans. Then she filed a lawsuit and said Navy Federal retaliated against her whistleblowing by changing her job duties. She dropped the case in late 2020.

Guild Mortgage paid the United States $24.9 million in 2020 when it was accused of approving FHA mortgages for people who weren’t eligible, resulting in loan defaults.

The Department of Justice required JPMorgan & Chase to pay $920 million for wrongful trading in 2020. The company paid the Securities and Exchange Commission $135 million in 2018 for mishandling American Depositary Receipts, certificates that let Americans invest in foreign stocks.

If any of these recent issues worry you, you may decide to go with one of the other refinance lenders on our list.

Methodology: How we chose the best mortgage refinance lenders for 2022

To choose the top mortgage refinance lenders of October 2022, we looked at four main factors:

  • Customer satisfaction. If the mortgage lender appeared in the J.D. Power 2021 Primary Mortgage Origination Satisfaction Survey, we looked at its ranking. If it wasn’t in the survey, then we read online customer reviews.
  • Ethics. Almost all of our top picks received an A+ from the Better Business Bureau, which measures companies’ trustworthiness. We also researched and considered any scandals in the past three years.
  • Loan types. Does a lender offer several types of loan refinances to suit customers’ needs, including conventional loans, government-backed loans, and cash-out refinances?
  • Affordability. We looked at lenders’ minimum required credit scores. We also checked whether the lenders offer streamline refinances for borrowers refinancing from a government-backed mortgage into the same type of mortgage, which can be more affordable for borrowers with less-than-perfect financial profiles. Finally, we looked at whether they have any flexible credit guidelines. This could include allowing borrowers to have recent negative events on their credit reports, or accepting non-traditional credit, like utility bills and rent payments, in lieu of a traditional credit score.

Frequently asked questions

Before you begin the refinancing process, here are some questions you should be asking yourself:

  • Should I refinance my mortgage?
  • Will my rate go up if I refinance?
  • What are current mortgage refinance rates?
  • How much equity do I have in my home?
  • Is a cash-out refinance worth it?

Think about what you hope to achieve with your refinance. If it’s a lower rate, take a look at current rates and find out if they’re lower than what you’re currently paying. If you want to take cash out of your home, you’ll need to make sure you have enough equity built up, and that doing so would be financially beneficial to you.

Refinancing costs money, so you want to make sure it’s in your best interest before going forward with it.

Some things you’ll want to discuss with your lender include:

  • What will my new monthly payment be?
  • How much will it cost to refinance my mortgage?
  • How much equity do I need for a refinance?
  • How much can I cash out?

Your lender should be able to explain how a mortgage refinance benefits you; if they can’t, it might not be the right time to refinance your mortgage. Even if you can get a lower rate or are able to take cash out, consider the overall picture, including how much you’ll pay in closing costs and whether you’ll be taking on a higher monthly payment or extending your loan term.

A mortgage lender should offer the kind of mortgage refinance that best suits your needs. For example, if you already have an FHA loan, you might want to refinance into another FHA loan. 

A lender should be relatively affordable. You shouldn’t need a super-high credit score to get a loan. It should also offer good rates and charge reasonable fees.

You want a lender that’s known for high customer satisfaction, and one that’s trustworthy. That’s why we’ve looked at ratings from J.D. Power and the Better Business Bureau for each lender on our list.

It depends. If you value convenience, then you might prefer using your current lender. You’ll already know how the company works and be familiar with its customer service operations.

However, just because a lender offered the best rate or lowest fees when you got your initial mortgage doesn’t necessarily mean it will offer the best deal when you refinance. Your financial situation also may have changed since you got your first mortgage. For example, if your credit score has dropped, then you may need to find a lender that has a lower minimum credit score.

The answer could change by the day. Take a look at Insider’s daily mortgage and mortgage refinance rate updates to see the average rates for various term lengths. If you have a good financial profile but a lender is charging you a higher rate than today’s national average, you may want to look elsewhere.

But a low interest rate isn’t the only expense that matters. Ask lenders for an itemized list of fees. Comparing closing fees among lenders is another way to see which is offering the best deal.

Mortgage rates have increased significantly this year, and 30-year fixed rates are now well above 6%. You may be able to get a better rate than the current average if your credit is in good shape, but you’ll still have a significantly higher rate now than if you’d refinanced a year ago.

To secure a low rate, focus on three main factors: credit score, debt-to-income ratio, and home equity.

You can get a conventional mortgage with a score of 620, but to get a better rate, aim to have a credit score of at least 700. To improve your credit score, focus on making payments on time, paying down debts, and letting your credit age if you aren’t in a rush to buy.

Your debt-to-income ratio is the amount you pay toward debts each month, divided by your gross monthly income. Lenders typically want to see a debt-to-income ratio of 36% or less. To get a lower ratio, you either need to pay down debts or earn more.

The more equity you’ve built in your home, the lower your rate should be. Calculate your loan-to-value ratio, or how much you still owe versus how much your home is worth. Many lenders want you to have at least 20% equity, but you may be able to refinance with a lower percentage if you have a great credit score and low debt-to-income ratio.

Any time a lender or creditor does a hard pull on your credit, you’ll likely experience a temporary, small dip in your credit score. Because of this, refinancing can cause a minor hit to your credit, but the effects will likely fade fairly quickly.

Plus, if you’re refinancing into a lower monthly payment or taking cash out to consolidate debt, refinancing your mortgage could ultimately benefit you financially.

Mortgage and refinance rates by state

Check the latest rates in your state at the links below. 

Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
Washington DC
West Virginia
Wisconsin
Wyoming



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