Best Refinance Companies

Refinancing is a great tool that can ease off the pressure in your life, so it’s no wonder that some eight million Americans moved to refinance their homes in 2020 alone, according to Freddie Mac. That said, this is not the easiest (or the cheapest) of processes, meaning that only the best refinance companies can be trusted. That’s why we’ve selected exactly those and reviewed them so that you could choose the best option for your new mortgage contract.

The Best Mortgage Refinance Companies

Rocket Mortgage Logo

Rocket Mortgage

Our process puts you in control.

Rocket Mortgage, formerly Quicken Loans, is a lender from Downtown Detroit, Michigan, with a nationwide presence backed by nearly four decades of experience. It is currently owned by RKT Holdings, LLC, and is one of the industry leaders when it comes to customer satisfaction.

  • Pre-approval Time: 24 hour
  • Days to Close: 30–50 days
  • Rates: 2.5% to 2.99%
  • APR: 2.957% to 3.455%
  • Minimum Credit Score: 620
  • Maximum debt-to-income ratio requirement: up to 43%
  • Minimum Down Payment: 0%
  • Loan types: Fixed-rate, Adjustable-rate, FHA, FHA-Streamline, VA, Jumbo, Yourgage
  • Lender Fees: up to $500
  • Online application: Yes
  • Best for online mortgage
Axos Bank Logo

Axos Bank

Axos – A Name You Can Count On

This online-only financial institution is revolutionary for the market due to its innovative approach that uses a mixture of advanced digital tools combined with unique human insight. For over two decades, Axos Bank has been aiming to free its customers from the constraints of traditional banking.

  • Available products: Conventional, VA, FHA
  • Rates: Variable
  • APR: Variable
  • Minimum Credit Score: 580
  • Maximum debt-to-income ratio requirement: N/A
  • Closing fees: N/A
  • Online application: Yes
  • Customer support: Excellent
  • Availability: 50 states
LendingTree Logo


You Win

This financial comparison site will give you the nitty-gritty aspects regarding what multiple providers on the market are offering so you can compare between them seamlessly. In the 25 years LendingTree has been in business, the company has served more than 100 million customers.

  • Pre-approval Time: Variable
  • Days to Close: Variable
  • Rates: 2.25% to 4.25%
  • APR: 2.43% to 4.43%
  • Minimum Credit Score: 600
  • Maximum debt-to-income ratio requirement: 49%
  • Minimum Down Payment: 0%
  • Loan types: Fixed-rate, Adjustable-rate, High-balance, Jumbo, FHA, VA, USDA, Second mortgage, Reverse mortgage
  • Lender Fees: Yes, variable
  • Online application: Yes
  • Best for whole-market brokering Logo

Buy or refinance your home with Better Mortgage for a seamless online mortgage experience backed by superior customer support.

This company provides fast and convenient services and is known to also apply highly advantageous costs and to avoid charging their customers with fees. Since 2014 it has become one of the most recognized and well-respected brands in the mortgage and refinancing industry.

  • Available products: Conventional
  • Rates: Variable
  • APR: Variable
  • Minimum Credit Score: 620
  • Maximum debt-to-income ratio requirement: 50%
  • Closing fees: 2% to 5%
  • Online application: No
  • Customer support: Excellent
  • Availability: 43 states

How We Chose the Best Refinance Lenders

To make your selection of the best refinance mortgage company for your needs a bit easier, we’re giving you a glimpse into the factors we took into consideration when drafting our list of the top firms in the industry. 

Available Products

Naturally, we were aiming to include lenders offering as many refinancing products to consumers as possible. Below, we’ve listed the main types of loans that you can get with the best refinancing companies


This loan type is not backed by the government in any way but rather, it’s provided by a private institution to the borrower for refinancing or replacing a mortgage.


The Federal Housing Administration loan is insured by the institution with the same name and issued only by FHA-approved lenders. These loans are meant for borrowers with low to moderate incomes. The required down payment and credit score are both lower than those of conventional loans. If you previously obtained this type of deal, you may refinance it with an FHA-refinancing loan.   


This is a product offered by some of the best mortgage refinance companies and is backed by the Department of Veteran Affairs program. Only active and veteran service personnel and their families may access this deal type, be it either a mortgage or refinance.


USDA loans are either made or backed by the United States Department of Agriculture’s Rural Housing Service agency. They were created so that low to middle-income families who live in rural areas can purchase homes. It has been operational since 1949. 

Rates & Fees 

Naturally, arranging better terms for your home loan doesn’t come for free, even with the best mortgage refinance lenders. Still, we aimed to include only providers with reasonable fees. Below, we’ve listed the fees you’re likely to encounter on your way to refinancing your mortgage

Interest Rates 

While interest rates are constantly fluctuating based on the state of the economy, we have aimed to select only responsible agencies with competitive rates.


The annual percentage rate (APR) is composed of any additional fees and costs required to close a deal. As is the case with interest rates, the top refinance lenders tend to have lower APRs.

Closing Fees

These are charged by most companies for processing and servicing. Although sometimes firms do not levy any costs, it happens more often than not, so we looked for companies whose fees represent good value for money.

Borrower Requirements 

The best place to refinance a mortgage could often be the one whose requirements you meet. Below, we’ve outlined the lenders’ main criteria when they are deciding whether to grant you a loan. 

Minimum Credit Score

Your credit score determines what loan you can get, its limits, and even the interest rates. It is calculated based on your credit history (35%), the amount owed (30%), length of credit history (15%), new credit (10%), and credit mix (10%).

Maximum Debt-to-Income Ratio Requirement

DTI is the percentage of your gross income that is directed towards debts (including principal, taxes, fees, and insurance premiums). Mortgage refinance lenders have a maximum requirement over which they do not feel comfortable offering cash as they fear you won’t be able to repay it.

Online Application

Being able to process refinancing online is definitely a big advantage, so we looked to include companies offering this convenience to customers.

Customer Support

Given the complex nature of refinancing, customer support is essential. That’s why we strived to include firms with helpful staff ready to assist customers during the whole process.


We have done our best to feature on this list of best banks to refinance mortgage companies that have wide availability across the US so that our readers can find recommendations that they may actually use.

Getting a Mortgage Refinance – The Process Explained

Before jumping into picking one of the awesome lenders on our list, we recommend that you first go through the following steps, so that you know what to expect. 

Check Your Credit Score

As this is the element that will have the most impact on the rate you get, it’s good to know in advance what your score is and whether it’s satisfactory enough for your needs.

Gather Documents

The papers required by refinance mortgage lenders are similar to those you used to purchase the home for the first time. 

Choose a Company and Apply 

Select one of the best mortgage lenders for refinancing and submit your application. After filing out the forms, you should expect an answer within three days.

Get an Appraisal

It’s important to make sure you are getting a fair deal by using the service of a professional. The cost of this should range somewhere between $300 and $400.

Underwriting and Lock in the rate

An underwriter will check all the documents for you to make sure everything is in order. After this, all that is left to do is making sure you can lock in the perfect rate for you.

Close the Loan

The easiest and most important step, simply getting the preliminary closing statement from your lender. After this, you have a three-day period in which you may still cancel with no repercussions.

Reviews of the Best Refinance Companies 

Rocket Mortgage

Known as Quicken Loans until recently, Rocket Mortgage is arguably the best bank to refinance a mortgage, courtesy of its multitude of products and convenient online application process. In its three decades on the market, the company sought constant improvement and delivered only top-notch services to its customers.



Besides the awesome services which cemented the company as one of the best refinance banks, other advantageous aspects of getting a loan here are the variety of products offered and highly favorable rates and APRs.

This firm has a more than decent minimum credit score requirement, meaning, applicants have good chances. Their maximum DTI requirement should also be doable for most borrowers.

Obtaining a loan from Rocket Mortgage is not only smooth and easy due to the possibility to apply online, but also fairly smooth, courtesy of the firm’s customer support which helped cement the company’s spot as one of the best home refinance companies. To top it off, Rocket Mortgage is available in all 50 states, making its products accessible for the vast majority of Americans.

While the company does charge closing fees, these aren’t higher than the industry standard.

Axos Bank

In 2000, when Axos launched, it was one of the first in the world to be an online-exclusive bank. Their lack of closing fees only sweetens the deal further. 



Axos has all the main product types that consumers are looking for when they need to refinance their homes. The minimum credit score requirement is low, and unlike with most other mortgage refinance companies, there is no maximum DTI.

However, what makes Axos Bank really stand out from the crowd is the closing fees, or rather, the lack thereof. This is a huge advantage for borrowers as it lowers the overall costs.

The company offers the possibility to apply online and their customer support services are excellent. Their products can be accessed by Americans from 50 states of the country.

What we don’t like about this lender is the lack of transparency regarding interest rates and APRs.

Lending Tree

Our list of the best refinance companies continues with Lending Tree, which is the best refinance mortgage company for those looking for a broker who can show them the best competitors in the industry. Since 1996 when it was founded it has become popular among consumers looking to browse an extensive network of providers.



On this site, you will find all the major mortgage refinancing products. What is especially advantageous is that even those with a low credit score can find a good deal, as Lending Tree has all of the best refinance mortgage companies. Plus, some of the offers available through the platform require DTI ratios of as low as 41%, which is below the industry standard.

Of course, online application is possible. The company also has excellent customer support services and is available in 50 states.

What’s not so good are the closing fees, even if they do not surpass the industry standard, and the lack of transparency regarding general rates, which cannot be viewed upfront.

Since its launch in 2014 has grown a large following of satisfied customers who were looking to strike a well-priced deal. is the best mortgage refinance company for consumers on a budget.



Although this firm doesn’t provide any government-backed products, it’s still one of the best refinance companies, offering customers the option to get pre-approved in as little as three minutes.’s maximum debt-to-income ratio stands at a reasonable 50%, further adding to the company’s appeal. Then, this lender has some of the lowest closing fees in the industry.

On the downside, this refinance company doesn’t offer upfront values for all rates and APRs. At the time of writing, operates in 46 states, although they promise to expand their offering to cover all of the US. 


Is it cheaper to refinance with the same mortgage company?

Generally, yes. In addition to avoiding some of the hassle involved in switching financial institutions, the best mortgage companies want to keep their clients, so they will also offer a better deal.

Is it better to refinance with a broker or a bank?

Typically, a broker offers a wider array of choices and allows you to pick between multiple refinance companies, which makes them a better choice. The downside is that depending on the broker, the process might turn out to be more expensive. 

Can you negotiate refinance rates?

Although the majority of the public is unaware, refinance rates are, indeed, negotiable. However, the haggle is not easy and it is largely contingent on your credit score.

Can you ask your mortgage company to lower your interest rate?

It is possible, however, your options are limited. Borrowers that are facing financial turmoil could qualify for a mortgage rate reduction, or those whose rates are significantly higher than the current rates.

What is the lowest refinance rate today?

Nowadays, you can get rates of as low as 3.1% for a 30 year to refinance, 3.01% for a 20-year deal, and 2.42% for 15 years.

What are the dangers of refinancing?

Working with refinance lenders brings in dangers like potentially high interest rates and closing costs, plus potential future market fluctuations.

How many refinance quotes should I get?

The more, the merrier. Experts recommend getting at least four mortgage quotes which makes for a reasonable selection of choices.

How much are the closing costs on a refinance?

In general, these range from 2% to 6%, depending on the loan size. The national average costs for refinancing are $5,749 (with taxes or $4,449 without). You will always find the best deals at the top refinance companies, including low rates.

What does the 5-year cost mean on a refinance?

The five-year mark is the point when your accumulated equity starts to go over what you could’ve saved by retiring. However, it’s essential to take into account that this 5-year mark is only approximate and may vary from lender to lender.

Do I need an attorney to refinance?

The mortgage lender will prepare and process all closing documents, so hiring an attorney is not a necessity, although you may still use the services of one if you prefer.

Does refinancing actually save you money?

When you work with one of the best mortgages refinance lenders, you may save a lot of money as you will spend less in interest over the life of the loan.

Do I lose my equity if I refinance?

You build equity in your home either through principal repayment or price appreciation and it will remain yours even if you refinance the property.

Do you get money back when you refinance?

Potentially yes, you may get a deal that consists of cash-back or cash-out and you can get money out of the loan to pay off extra debt.

What are the typical refinance costs?

On average, the cost of closing a refinancing deal across the United States is $4,345, although these costs may vary drastically. Of course, the best refinance companies have the most advantageous deals and rates.

Are refinance costs tax deductible?

Only costs considered mortgage interest or real estate taxes may be deductible. Fees for services like insurance or appraisals are not tax-deductible.

At what income level do you lose mortgage interest deduction?

The income cap for deducting the cost of mortgage interest is set at an adjusted gross income of more than $109,000, or $54,500 if married filing separately.