To find the best mortgage refinance lenders, Business Insider reviewed dozens of lenders and looked for the features that refinancers want most — low rates and affordable closing costs, great customer service, and a convenient application experience.
To be considered one of the best mortgage lenders for refinancing, lenders have to rank high in customer satisfaction, affordability, and trustworthiness. Our top picks also offer a range of loan options that should meet most borrowers' needs.
These are the best mortgage lenders for refinancing as chosen by Business Insider editors in 2025.
Best Mortgage Refinance Lenders
- Rocket Mortgage Refinance by Quicken Loans: Best overall
- Third Federal Savings and Loan Mortgage: Best for low costs
- Pentagon Federal Credit Union Mortgage: Best for veterans
- U.S. Bank Mortgage Refinance: Best for existing customers
- Carrington Mortgage Services: Best for low credit scores
Today's Rates
Best Overall
620
Conventional, cash-out, FHA, VA refinancing
- Refinance into several types of mortgages
- Top lender for customer satisfaction from J.D. Power for 11 straight years, and No. 2 in 2021
- Fast, easy online experience
- Can't refinance into a USDA mortgage
- Doesn't accept alternative credit data
Rocket Mortgage, formerly known as Quicken Loans, is a strong lender in general and our "best overall" pick for the best mortgage refinance lenders. It's a great option if you're comfortable applying online and have a good credit score.
Rocket Mortgage- Available in all 50 US states and Washington, DC
- Doesn't accept alternative data, like proof of paying bills on time, in addition to a credit score
- Minimum credit score displayed is for conforming mortgages
Rocket Mortgage is one of our favorite mortgage lenders, and we think it's an especially good choice if you're looking to refinance.
Customizable term lengths that are ideal for refinancing
Refinancers will like Rocket's "YOURgage" loans, which let you choose any term length between eight and 29 years (you can also choose a standard 30-year loan).
Refinancing into a custom term length means you don't have to reset your loan term. For example, if you originally got a Home Mortgage Disclosure Act data.
Best for Low Costs
N/A
3%
Conforming, Smart Rate Adjustable Mortgage, jumbo, bridge loan, HELOC, home equity loan
- Low Cost Mortgages come with only $495 in closing costs
- Down payment assistance available
- Services all of its loans
- Low average rates
- Only available in 22 states and Washington, D.C.
- Only has physical branches in Ohio and Florida
- No government-backed mortgages
Third Federal Savings and Loan is a really unique mortgage lender that offers an impressive number of perks compared to other lenders we've reviewed.
Third Federal Savings and Loan- Available in California, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Kentucky, Maryland, Massachusetts, Missouri, New Hampshire, New Jersey, New York, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Virginia, Washington, and Washington, D.C.
- Third Federal Savings and Loan doesn’t set a minimum credit score for its mortgages. In general, borrowers should aim to have a score of at least 620 to be considered for a conventional mortgage.
- Minimum down payment displayed is for conforming mortgages
Average rates are on the low end
Third Federal Savings and Loan is an extremely affordable mortgage lender if you're looking to keep your costs down. Based on our review of HMDA data, Third Federal's average mortgage rates are lower than many other lenders we've reviewed.
Pay just $495 in closing costs
This lender also offers a product called a Low Cost Mortgage, which comes with only $495 in closing costs. If you don't want to pay a lot of cash out of pocket to refinance, this could be a good option for you. However, you'll have a slightly higher rate to compensate for the costs the lender covers.
What to look out for: Third Federal mortgages are only available in California, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Kentucky, Maryland, Massachusetts, Missouri, New Hampshire, New Jersey, New York, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Virginia, Washington, and Washington, D.C.
Best for Veterans
650
3%
Conforming, jumbo, FHA, VA, HELOC
- Average fees are relatively low
- No-closing-cost streamline refinance
- Offers fully underwritten preapproval
- Offers a 60-day rate lock
- No USDA, new construction, or reverse home loans
- Requires 620 credit score to get an FHA loan
- Need to be a member to get a home loan
- Offers mortgages in all 50 U.S. states, Washington, D.C., Puerto Rico, Guam, and Okinawa
- To become a member, open a PenFed savings account with a $5 minimum deposit
- Minimum credit score and down payment listed are for conforming mortgages. VA borrowers can have scores of 620
Low average fees
Many lenders offer VA loans, including many of the lenders on this list. But for refinancing, we like PenFed, which has low average fees, according to HMDA data.
No closing costs on IRRRLs
Plus, if you're getting a VA streamline refinance (also known as an interest rate reduction refinance loan), PenFed will cover your closing costs (including the VA funding fee).
What to look out for: You'll need to become a member to get a mortgage with PenFed. Fortunately, becoming a member is fairly easy. You'll just need to fill out a form and open a savings account with a $5 minimum deposit.
Best for Existing Customers
620
Conventional, cash-out, FHA, VA refinancing
- Refinances a variety of mortgage types
- Current customers receive up to $1,000 toward closing costs
- You can't refinance into a USDA mortgage
- Doesn't accept alternative forms of credit
US Bank is a good choice for those who already have mortgages or accounts with this bank. Its existing customer discount on its mortgages is better than similar offers from other lenders.
U.S. Bank Mortgage- Offers home loans in all 50 US states and Washington, DC
- Has branches in 26 US states
- Does not accept alternative credit sources in lieu of a credit score
- Minimum credit score displayed is for conventional refinancing
Offers a customer discount
U.S. Bank is a good choice for those who already have mortgages or accounts with this bank. Its existing customer discount on its mortgages is better than similar offers from other lenders.
If you already have a mortgage or account with U.S. Bank, you may be able to get up to $1,000 off your closing costs if you refinance through this lender.
Low average fees
U.S. Bank's average fees are on the low end, according to HMDA data.
What to look out for: U.S. Bank ranked low in J.D. Power's 2024 origination satisfaction study, but it has many positive online customer reviews.
Best for Low Credit Scores
620
Conventional, cash-out, FHA, VA, USDA, Carrington Flexible Advantage
- Variety of refinance options, including the Carrington Flexible Advantage Refinance
- Has flexible credit guidelines on some of its mortgages
- Has mortgages that allow scores as low as 500
- Can't see customized rates online
Carrington is an affordable option for those with rocky credit histories and credit scores as low as 500.
Carrington Mortgage Services- Offers mortgages in all US states except Massachusetts and North Dakota
Qualify with a score as low as 500
Carrington Mortgage Services is an affordable option for those with rocky credit histories and credit scores as low as 500.
Flexible options for bankruptcy, foreclosure, or other negative events
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.
What to look out for: Carrington doesn't lend in Massachusetts or North Dakota. According to HMDA data, this lender's rates and fees are higher than average.
Carrington has an CARES Act rights. The CFPB claims that the lender misled borrowers seeking CARES Act forbearance and denied them key protections provided by the pandemic-era law.
Find a Mortgage
Why There's No Single 'Best' Refinance Company
The lenders on this list are affordable and have offerings that should meet most borrowers' needs, but ultimately it comes down to what rate you're offered and whether a given lender suits your needs.
Your Goals Matter
There are a few different mortgage broker will do all the legwork of getting quotes from different mortgage lenders for you. If you want to be able to easily compare many different loan options, you might prefer working with a broker.
Why You Should Trust Us: Experts' Advice on Choosing a Mortgage Refinance Lender
To help you learn more about refinancing and lenders, four experts weighed in:
- Anthony Park, author of J.D. Power 2024 Mortgage Origination Satisfaction Study, we looked at its ranking. We also looked at online customer reviews to get a sense of the typical borrower experience with each lender.
- 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 See our full ratings methodology for mortgage lenders »
FAQs
Who is the best mortgage company to refinance with?
Our top pick for refinancing is Rocket Mortgage, and we think it's a good choice if customer service and customizable terms are important to you. But ultimately the best company for refinancing depends on your needs and goals.
Is it better to refinance with your current lender?
You might prefer refinancing with your current lender if you like the customer service it offers and you value convenience. But shopping around and comparing rates for the type of loan you want (like a 30-year mortgage refinance) gives you a chance to see what types of deals are available to you.
Which mortgage lenders in my area offer the best interest rates?
To find mortgage lenders in your area with low rates, ask around for recommendations from friends or neighbors. But keep in mind that rates can vary a lot depending on your individual financial profile.
Is it better to refinance with a bank or mortgage company?
Nonbank mortgage companies can sometimes offer better rates and a speedier application process compared to traditional bank mortgage lenders, but this isn't always the case.
What is a good refinance rate right now?
Right now, mortgage refinance rates are still somewhat high. In April 2025, 30-year refinance rates were in the high 6% range, according to Zillow data.
