Best Company to Refinance Home Loan for 2025

Refinancing your home loan can be a smart move to lower your monthly mortgage payments, secure a better interest rate, or even tap into your home equity. Choosing the best company to refinance home loan depends on your financial goals, whether it’s reducing your loan term, getting cash out, or switching from an adjustable-rate to a fixed-rate mortgage.

Here’s a look at some of the best lenders for home loan refinancing in 2025.

Better – Best for Low Rates

Why We Chose It: Better offers some of the lowest mortgage refinance rates and doesn’t charge origination fees, making it a cost-effective option.

Better – Best for Low Rates

Pros:

  • No lender fees (origination, application, or underwriting)
  • Competitive interest rates
  • Fast online preapproval in as little as three minutes

Cons:

  • No USDA loans
  • No mobile app
  • No branch locations

Loan Types: Conventional, FHA, Jumbo

Better is an excellent choice for budget-conscious homeowners looking to refinance without unnecessary fees. Plus, if you refinance within three years of your first loan, you could get up to $3,500 in lender-paid credits.

Magnolia Bank – Best for Online Tools

Why We Chose It: Magnolia Bank provides powerful online tools that make it easy to estimate potential savings and refinancing benefits.

Pros:

  • Available in all 50 states
  • Specializes in home loans for veterans
  • Fast closing process

Cons:

  • Limited physical locations (only in Kentucky)
  • No home equity loans or HELOCs

Loan Types: Conventional, VA, FHA, USDA, Reverse, Construction

Magnolia Bank is a solid option for homeowners who want a simple online refinance process and comprehensive loan calculators to explore their options.

Rocket Mortgage – Best for Speedy Closing

Why We Chose It: Rocket Mortgage offers one of the fastest refinance closing times in the industry, averaging just 21 days.

Pros:

  • Can refinance second homes and investment properties
  • Prequalification available in minutes
  • Allows borrowers to cash out 100% of their home’s equity

Cons:

  • No USDA loans
  • No HELOCs or construction loans
  • Higher-than-average origination fees

Loan Types: Conventional, FHA, VA, Jumbo, Cash-out, VA IRRRL

If you need a fast and efficient refinance experience, Rocket Mortgage’s Overnight Underwrite process can get you verified approval in as little as two hours.

PNC Bank – Best for Nationwide Availability

Why We Chose It: PNC Bank offers refinancing nationwide and provides both online and in-person services at its 2,200 branches.

PNC Bank – Best for Nationwide Availability

Pros:

  • Refinance options for primary, secondary, and investment properties
  • Wide variety of loan types (fixed, adjustable, VA, FHA, Jumbo)
  • Discounted rates for PNC customers with $500,000+ in assets

Cons: No home renovation loans

Loan Types: Fixed-rate, ARM, FHA, VA, Jumbo

PNC Bank is a great choice if you want the option to apply online or visit a local branch for personalized assistance.

PenFed Credit Union – Best Credit Union for Refinancing

Why We Chose It: PenFed Credit Union offers lower rates than many traditional banks and waives closing costs on some refinance loans.

Pros:

  • Covers VA funding fees and closing costs on certain loans
  • Offers jumbo loan refinancing up to $3 million
  • Available in all 50 states

Cons:

  • No USDA loans
  • No adjustable-rate terms

Loan Types: Conventional, FHA, VA, VA IRRRL, Cash-out, HELOC

If you’re looking for credit union benefits and lower refinance rates, PenFed is a strong option—plus, you only need a $5 savings account to become a member.

USAA – Best for VA Loans

Why We Chose It: USAA is one of the top VA loan providers and specializes in VA Interest Rate Reduction Refinance Loans (IRRRLs).

Pros:

  • Available in all 50 states
  • No origination fees on VA loans
  • Designed for military members and veterans

Cons:

  • No FHA or USDA loans
  • No home equity loans or HELOCs

Loan Types: Conventional, VA, Jumbo

For veterans and active military personnel, USAA offers some of the most competitive VA refinance options with no origination fees.

Pennymac – Best for USDA Loans

Why We Chose It: Pennymac offers USDA loans, which are hard to find among refinance lenders.

Pros:

  • $1,000 towards closing costs for preapproved borrowers
  • Lock & Shop feature lets you secure your rate for 90 days
  • A+ accreditation from the Better Business Bureau

Cons:

  • No physical branches
  • No HELOC loans

Loan Types: Conventional, FHA, VA, Jumbo

If you’re eligible for a USDA loan, Pennymac provides an excellent refinancing option with competitive rates and closing cost incentives.

Final Thoughts

Finding the best company to refinance home loan depends on your unique financial needs. If you’re looking for low rates, Better is a great choice. If you need a fast closing, Rocket Mortgage is the best option. If you prefer a local branch for in-person service, PNC Bank is a strong contender. For military borrowers, USAA and PenFed offer specialized VA loan refinancing.

Before refinancing, compare multiple lenders, consider closing costs, and check your credit score. With the right refinance company, you can save money and achieve your financial goals more easily.