Best Refinance Companies: Top 7 for You

Refinancing your home loan can help you secure a lower interest rate, reduce monthly payments, or access home equity. Choosing the right lender can make a huge difference in the process and potential savings.

To help you find the best refinance companies, we’ve reviewed top lenders offering competitive rates, fast approvals, and excellent customer service.

Rocket Mortgage

Why We Chose It: Rocket Mortgage (formerly Quicken Loans) offers a seamless online application process, a variety of loan types, and fast approvals.

Pros:

  • Accepts credit scores as low as 620 (580 for FHA loans)
  • Offers rate-and-term and cash-out refinancing
  • Available in all 50 states

Cons:

  • No long rate locks in certain states
  • Requires using its sister company, Amrock, for eClosing

Loan Types: Conventional, Jumbo, FHA, VA, Adjustable-Rate Mortgages (ARM)

Rocket Mortgage is a great all-around refinance lender, offering a mix of flexibility, speed, and nationwide availability.

Nationwide Home Loans

Nationwide Home Loans

Why We Chose It: Nationwide Home Loans provides a personalized experience with in-house loan processing and custom loan terms.

Pros:

  • Best rate guarantee
  • In-house lender with custom loan terms
  • Faster-than-average processing times

Cons:

  • Only available in eight states (CA, CO, TX, ID, WA, OK, MT, ND)
  • Minimum credit score of 580 required

Loan Types: Conventional, FHA, VA, Jumbo, Custom Terms

For borrowers who want personalized service and competitive rates, Nationwide Home Loans is a solid option.

AmeriSave Mortgage

Why We Chose It: AmeriSave stands out for its transparent pricing, excellent customer support, and easy online application.

Pros:

  • No hidden fees
  • Accurate and transparent quotes
  • Available in all 50 states

Cons:

  • Requires a full appraisal
  • No financing for mobile or manufactured homes

Loan Types: Fixed-Rate, FHA, VA, USDA, Cash-Out Refinance, ARM

AmeriSave is ideal for borrowers who want a straightforward refinance process with clear pricing and excellent customer support.

LenderFi

Why We Chose It: LenderFi offers a fast, fully digital application process with no lender fees.

Pros:

  • No lender fees
  • Fast approval and closing (within two weeks)
  • Rate insurance allows free refinancing if rates drop by 0.25%

Cons:

  • Not available in Hawaii, Missouri, Nevada, New York, or Utah
  • No home equity loans

Loan Types: Conventional, FHA, Fixed-Rate

For homeowners who prefer a quick and easy online refinance experience, LenderFi is a top choice.

Bank of America

Bank of America

Why We Chose It: Bank of America provides a range of refinance options with interest rate discounts for existing customers.

Pros:

  • Available in all 50 states
  • Preferred Rewards clients can save up to $600 on closing costs
  • Offers both online and in-person application options

Cons:

  • Closing costs can be higher than competitors
  • No USDA loan refinancing available

Loan Types: Fixed-Rate, FHA, VA, ARM

For those who prefer working with a well-known bank and enjoy customer perks, Bank of America is an excellent refinance choice.

Alliant Credit Union

Why We Chose It: Alliant Credit Union waives mortgage insurance requirements and offers competitive refinancing options.

Pros:

  • No mortgage insurance for certain loans
  • Free customized quotes and rate locks
  • Available nationwide

Cons:

  • Higher closing costs than some competitors
  • No in-person branches

Loan Types: Conventional, Fixed-Rate, Jumbo

Alliant Credit Union is a strong option for borrowers looking to refinance without paying mortgage insurance.

Navy Federal Credit Union

Why We Chose It: Navy Federal offers exclusive refinance programs for veterans, active-duty military, and their families.

Pros:

  • Military Choice program for those who’ve used their VA loan benefits
  • Rate match guarantee
  • Free rate lock to protect against rising rates

Cons:

  • Must be a Navy Federal Credit Union member
  • Higher rates if refinancing from a non-NFCU lender

Loan Types: VA, Military Choice, Fixed-Rate, ARM

For military families and veterans, Navy Federal provides some of the best refinance options tailored to their needs.

Final Thoughts

Refinancing your mortgage can help lower monthly payments, shorten your loan term, or unlock home equity. Choosing the best refinance company depends on your specific goals:

  • Best for overall refinance options: Rocket Mortgage
  • Best for all-in-one service: Nationwide Home Loans
  • Best for customer service: AmeriSave
  • Best for online applications: LenderFi
  • Best traditional bank: Bank of America
  • Best credit union option: Alliant Credit Union
  • Best for veterans: Navy Federal Credit Union

Before refinancing, compare lenders, consider closing costs and interest rates, and ensure the lender aligns with your financial goals. With the right refinance company, you can save money and improve your financial stability.