5 Best Mortgage Refinance Lenders

I'm Donny. I'm a world traveler, investor, entrepreneur, and online marketing aficionado who has a big appetite to compete and disrupt big markets. I thrive on being able to create things that impact change, difficult challenges, and being able to add value in negative situations.

Experts say now is the time to refinance your mortgage before rates go up. If you want to save money, capitalize on the best trending interest rates, and work with the best lenders, keep reading.

Best Overall
Credible logo
Editor's Rating    5/5

You can use Credible to get prequalified for a mortgage refinance without affecting your credit score in just 3 minutes. They are my #1 recommended mortgage refinance lender.

Lowest Rates
Better Logo
Editor's Rating    4.5/5

Better.com focuses on support, not sales. So whether you’re here for your first house or third refinance, they are ready to help. They are our top choice when it comes to the lowest rates.

Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Read our Advertising Disclosure

This article will give you the hottest tips on mortgage refinancing, and the best mortgage refinance lenders. Establishing goals before every decision is critical.

Ask yourself questions about your short and long-term goals before refinancing. Know which questions to ask. When you have all the facts, you can make a cost analysis and determine if refinancing makes sense for you.   

The Best Mortgage Refinance Lenders in 2024

Comparison of Refinance Mortgage Lenders

Credible logo

Our Partner

Credible is the best way to save money on student loans, personal loans, and your mortgage. Compare top lenders and find low rates in just minutes.


Better.com is dedicated to making homeownership faster and simpler, with superior customer support along the way.

figure logo

Our Partner

Figure offers a simpler, faster way to find the loan that’s right for you.  Apply 100% online in minutes!


New American Funding is a direct mortgage lender offering an array of mortgage loan options including purchase, refinance, and first time home buyer loans.

AmeriSave logo

Our Partner

AmeriSave offers low-rate mortgages and they know customer service. Their experienced loan officers and industry-leading technology can get your mortgage refinanced.


When selecting the best mortgage refinance companies, there is a significant amount of research into making an informed decision. Mortgage refinance is a highly competitive industry. 

Certain features must stand out to make a company credible, and reliable, and ensure that your refinancing will go smoothly.

The company should excel in features like quick pre-approval times and speedy closing times. They should check every box of a consumer’s top priorities for a lender.

Our top five choices all succeed in the following criteria to qualify for the best mortgage refining companies.


Fees are how much you will pay after everything is signed when you refinance a mortgage.  Ongoing fees are those you will pay for late or early payments.

Knowing all the details of ongoing fees is critical. You don’t want to pay excessive refinance fees that will negate the money you will save by refinancing.

Verified 3rd Party Reviews 

Verified third-party review means an impartial and professional body completed the assessment.  The company should meet national standards and demonstrate quality services.

The top mortgage companies in this article have the seal of approval from 3rd party referrals meaning they are unbiased and rated for their outstanding service.

Investment Minimums

The definition of investment minimum is the amount you need to invest in something for the first time. Why is this important?

If you transfer money from one company to another and the amount is less than that company requires, you will not qualify for the new loan. It is crucial to know the minimums for investing in the company you are considering.

Years in Business

A company with a significant number of years in business is testimony to its commitment to its product and its customers.

The top refinancing companies listed here have shown their commitment to quality service through years of service in the finance industry and have good customer reviews.

Quality of the Leadership Team

Good leaders make the difference between a company’s success and failure.  These leadership values include:

  • Defining the values and visions for the company
  • Keeping company morale high
  • Utilizing effective communication strategies
  • Motivating employees
  • Have good resources for employees and customers

Refinance Lender Reviews

When searching for the best mortgage lenders, the main target is the mortgage rates. Other factors to consider are the ease of the application process and any hidden fees.

Experts recommend that you compare several lenders before making your decision.  You may have circumstances that will affect your application when applying for a new loan.

If you have lower credit scores, less cash to pay for up-front fees, or are a Veteran, there are mortgage refinancing companies that will suit your needs perfectly. 

Here is a list of some of the best mortgage refinancing companies and highlights of what they can offer. 

1. Credible - Best Overall

Credible will save you money in interest and fees throughout your loan. Credible is not a direct lender, but they connect you to partners who can give you the best rates and service.

Products Available:

Mortgages and Refinancing

Credible uses a digital platform to expedite your search. Rated highly by Trustpilot and BBB, Credible doesn’t charge a fee to find you the best mortgage rates. 

Credible gets a flat 1% or 2% cut from the loan amount.

Personal Loans

Credible offers loans from $600 up to $100,000. You can pay back the loans for up to 7 years. The best part about this loan is that you can compare offers, and it won’t affect your credit score.


  • Compares rates from multiple lenders
  • Ability to get pre-approved fast
  • An easy digital process to apply
  • Does not charge a fee for their service


  • May not have access to all types of mortgages
  • Lender fees may still apply

2. Better.com - Lowest Rates

Better.com ranks high on the list of best mortgage refinance lenders because they have the lowest fees. Make a down payment with as little as 3% and pay no application fees, commission, origination, or underwriting and processing fees. 

Products Available:


Decide if you want a conventional, adjustable, jumbo, or fixed-rate mortgage or you may want to refinance. Better.com online application process to lock in the best deal for your mortgage. 

As a direct lender, Better will facilitate the selection of the best rates and the loan pre-approval process.  


  • No commission or lending fees
  • A customizable pre-approval process
  • Closes 10 days faster than other companies
  • Exceptional customer service


  • No home equity loans
  • Other types of loans may not be available

3. Figure - Best Online Lender

Figure is the most innovative online lender which uses AI and blockchain technology for a fully digital application and funding process. You can qualify for up to 400,000 in just 5 days from a company that has won awards for the best online lender and the best home equity loans.

Products Available: 

Fixed-Rate Home Equity Loans

Figure offers the fixed-rate loan for equity or mortgage refinancing. The minimum credit line starts at $15,000 and may go as high as $250,000 in some states.

Choose a term from 5 to 30 years for repayment. Get a jumbo loan for up to 80% of what your home is worth.

Personal Loans

You may be eligible to borrow up to $50,00 through Figure with an APR starting at 5.75%. If your credit is good you can qualify and select a 3-year repayment plan.


  • Get a loan from $15,000 to $250,000
  • No prepayment, appraisal, or maintenance fees
  • Get funded in as little as 5 days
  • Excellent customer reviews


  • Does have a required origination fee
  • Minimum FICO credit score of 620

4. New American Funding - Best for Bad Credit

New American Funding provides refinancing for an existing mortgage. Even if you have poor credit you may find help through New American to find the best package to refinance your mortgage for a better rate.

Products Available:


Besides purchase and mortgage refinance options, New American offers “cash-out” which increases the borrowing amount by using a home’s equity to get cash. “cash in” loans allow a homeowner to use cash to pay off a loan balance.

The manual underwriting helps those with credit issues to have a better chance of qualifying.


  • Evaluated on a non-traditional credit basis
  • Offers down-payment assistance programs
  • Online application and rate quotes
  • Has government loan options


  • Origination fees are on the high side
  • Earned 3 out of 5 stars on mortgage rates

5. AmeriSave - Best for Veterans

One of the largest direct-to-consumer lending companies, AmeriSave is VA friendly. AmeriSave has 20 years of experience matching the rates and closing costs of its competitors. 

It offers pre-qualified letters of approval that are good for 60 days and assist the lending process. 

Products Available:


AmeriSave offers convention, fixed, and adjustable-rate mortgages in addition to FHS, VA, and USDA loans. They offer cash-out, rate-and-term options as well as the option of streamlining your refinancing process.

Take the guesswork out of fees as AmeriSave has a flat $500 application fee.


  • Offers a prequalified and customized rate quote
  • Transparent fees and pricing
  • Includes FHA, VA, and USDA loans
  • Has access to 1,250 licensed mortgage lenders


  • Doesn’t have branch offices
  • Has no first-time buyer options

How Does Mortgage Refinancing Work?

The concept of refinancing is simple. Homeowners get a new mortgage from a mortgage refinance company that will replace their current loan. The goal is to save money over the long run.

One of the main goals is to lower the interest rate of the loan. This will reduce monthly payments on the mortgage. Another goal may be to shorten the time to pay off the loan.

The loan can be paid off more quickly to get cash in the form of home equity. 

Top 5 Reasons to Refinance Your Mortgage

Here are the top five reasons homeowners should consider looking for a new loan for their home.

  1. Lowering the interest rate – always a good idea if the mortgage rates drop and you can get a lower rate by refinancing.
  2. Reduce your monthly payment – when interest rates drop, this is the time to refinance to get your monthly payments down, especially if you are planning to stay in your home for many years.
  3. Shorten the loan term – if you refinance when the rates drop you can pay more monthly and reduce the time it takes to pay off the loan.
  4. Change from adjustable to fixed-rate – when the rates go low, this is the time to take advantage of a fixed-rate mortgage and ensure your rates will never go up.
  5. Need cash – if you have paid off some of your mortgage you may have equity in your home which will allow you to draw cash to pay for repairs, college, a car, credit cards, or perhaps a nice, much-needed vacation.  

Types of Mortgage Refinances

Before settling for any mortgage, it is critical to know the basic types of mortgage refinancing.

Rate and Term Refinance

This is the most common way to refinance a mortgage. Rate and Term let the borrower use an adjusted term or rate for refinancing the original mortgage.

The consumer can capitalize on the current interest rates to adjust the mortgage to suit their personal needs.  

Cash-out Refinance

The Cash-Out has customizable rates and terms. The main goal is to increase the amount of the original loan. If the new loan is more than the old loan, the difference can be paid to the homeowner in tax-free cash as it does not qualify as taxable income.

Streamlined Refinance

Also known as cash-in, this refinance option is the opposite of cash-out. The borrower uses cash as partial payment for the new loan which lowers the amount of the loan.

The result is a lower monthly rate or a shorter term of payment. 

Choosing The Right Refinance Lender

What should you be looking for when choosing between mortgage refinance companies? When finding a new lender you want a company that has the best rates, one that ranks high in customer service, and communicates reliably. 

Your new mortgage refinance company should provide an outline with all the rates and fees, including all closing costs.  The company should provide you with details like how much the refinancing will cost.

Find a company that has pre-approval, an easy application process, and an excellent company track record.  Right now, is the perfect time for you to look for a lower interest rate to refinance and help pay off your existing mortgage with the best mortgage refinance lenders. 

Mortgage refinancing may seem daunting. However, when you find the best refinance companies, you may secure better terms, fees, rates, and benefits, which will save you money on your mortgage. 

Mortgage Refinancing FAQ's

Here are some of the most common questions.

What is mortgage refinancing?

Refinancing is taking an existing home mortgage and negotiating for a new mortgage with a better interest rate or better payment options. 

How do I qualify for a mortgage refinance?

Most mortgage refinance companies require a credit score of 620 or higher. As a general rule, you should have 20% equity in your home to be able to refinance.

Is mortgage refinancing a good idea?

Refinancing your mortgage is a good idea if rates have lowered or if your credit has improved and you can qualify for a lower rate. You may also want to refinance if your home has increased in value, you want to convert to a fixed rate, or you want to increase your loan to consolidate debt.

Is it better to refinance with a local bank?

Going to a local bank may be comforting, but you won’t know if you are getting the best rate. There also may be stricter lending standards because your local bank may have to comply with federal regulations and reporting laws.

What costs are involved when refinancing?

The average cost of refinancing, depending on the institution you use, can be up to $5,000. Some mortgage refinance companies don’t charge any fees, others have a flat up-front rate.

Compare mortgage refinancing companies to compare closing costs.


Credible is the best way to save money on student loans, personal loans, and your mortgage. Compare top lenders and find low rates in just minutes.

Credible icon

I'm Donny. I'm a world traveler, investor, entrepreneur, and online marketing aficionado who has a big appetite to compete and disrupt big markets. I thrive on being able to create things that impact change, difficult challenges, and being able to add value in negative situations.

More Posts

You May Also Like

FarmTogether review

Real Estate

FarmTogether Review: Is it a Legit Farmland Platform?

Acretrader review

Real Estate

AcreTrader Review: Is it a Trustworthy Farmland Platform?

1031 Exchange

Real Estate

1031 Exchange: Everything You Need to Know

Best Farmland Investing Platforms

Real Estate

7 Best Farmland Investing Platforms in 2023