Find the Best Mortgage Refinance Companies

When selecting our top picks, we wanted to find the top mortgage refinancers with the most competitive refinancing rates, the best customer service, an easy online process and wide availability.

We started out with a list of popular mortgage refinancing companies. To narrow it down, only those with at least 10 reviews on our site over the last year and an overall satisfaction rating of four stars or above were considered. We then analyzed each company’s ratio of 5-star reviews to 1-star reviews that mention refinancing a home loan.

1. AmeriSave Mortgage: Our pick for refinancing overall
2. Mr. Cooper: Our pick to lower interest rates
3. Rocket Mortgage: Our pick for online process
4. North American Savings Bank: Our pick for customer service
5. Network Capital Funding: Our pick for fast refinancing
6. ClearPath Lending: Our pick for simple application
7. Veterans United: Our pick for VA loan refinancing

AmeriSave is a major player in the mortgage industry. It offers cash-out and rate-and-term refinancing options in most states and Washington, D.C. The site offers free refinancing calculators and access to informational resources. Refinancing with AmeriSave could make sense if you want a company that’s relatively easy to work with and offers lots of options in many areas.

What we like: AmeriSave has more than 1,000 verified reviews on our site from over the last year, and about half mention refinancing in some way. At the time of publishing, the majority of reviews about refinancing are 5 stars. Positive AmeriSave reviews about refinancing highlight the company’s easy online application process and low interest rates.

What to consider: Although the company advertises a quick process, some reviews over the last year indicate that closing sometimes takes longer than expected. It’s unclear what percentage of the 2020 delays were related to COVID-19. Some AmeriSave complaints also include references to customer service. Also, the company does not offer home equity lines of credit or home equity loans.

Mr. Cooper can help homeowners refinance for a lower payment, shorter term or cash. The company is available in all 50 states and Washington, D.C., as well as Guam, Puerto Rico and the U.S. Virgin Islands. It makes it easy to learn about your home loan options. Mr. Cooper offers flexible FHA refinancing programs for applicants with less-than-excellent credit.

What we like: Many of the happiest reviewers who refinanced with Mr. Cooper over the last year mentioned getting a lower interest rate or lower monthly payments. According to positive reviews, representatives are professional and the company is easy to work with.

What to consider: Some of the most dissatisfied Mr. Cooper customer complaints appear to be about documentation and paperwork. If an error is made at some point during the loan application process, it can cause delays.

Rocket Mortgage by Quicken Loans offers a fully digital refinancing experience. You can find free calculator tools to compare different refinancing options for taking cash out, shortening your term and lowering your interest rate. A home equity tool makes it easy to estimate how much cash you could get out of your home.

What we like: Positive Rocket Mortgage reviews about refinancing consistently praise the easy online experience, from the application process to closing day. It appears that agents are prompt with communication and take the time to answer all their clients’ questions. Rocket Mortgage also has a high customer satisfaction score with J.D. Power.

What to consider: Though reviews about the loan process are overall positive, some complaints indicate that the closing can take longer than expected. It’s unclear whether the closing delays last year, particularly in the summer of 2020, were mostly due to COVID-19.

North American Savings Bank specializes in helping homeowners refinance for a better interest rate or an opportunity to consolidate debt. Online lending services are available in most areas, but in-person branches are only located in the Kansas City area.

What we like: Positive NASB refinancing reviews consistently mention helpful loan officers that facilitate a smooth process. Reps seem dedicated and easy to get hold of. Even the reviewers who encountered bumps along the way still recommend the company for handling their situation with professionalism.

What to consider: One dissatisfied homeowner in Arizona complained that it took longer to close on their refinancing loan than expected. According to the verified review, it took 107 days to close instead of the 90-day closing that was initially communicated.

Network Capital Funding provides a simple application process for homeowners to refinance. The lender offers free calculator tools to help homeowners explore different refinancing programs. Some applicants can close in as few as 15 business days.

What we like: Some of the happiest Network Capital Funding reviewers praise the whole loan refinancing process. Homeowners seem pleased with their new interest rates and appreciate that agents take the time to answer all their questions. Reviewers describe the process as quick and easy and say reps respond to inquiries in a timely manner.

What to consider: We like that refinancing reviews are overwhelmingly positive. However, at least one reviewer indicated they were “very dissatisfied” with the lending process. Additionally, Network Capital Funding is only available in about half the country.

ClearPath Lending offers several refinancing products to homeowners across the country to help you switch rate types, lower your rate, shorten your term or get cash out of your equity. On its site, you can find free tools to calculate how much you could save by refinancing your mortgage based on your new loan amount, term and interest rate.

What we like: Most refinancing customers describe an overall good experience with ClearPath Lending. According to positive reviews, the application process is easy and loan agents are happy to answer all their clients’ questions. The whole process takes around a month.

What to consider: The majority of ClearPath Lending refinancing reviews are overwhelmingly positive. However, in one complaint, the reviewer was unhappy that their rate changed after they received a quote from a loan agent. There appears to have been some confusion over when a loan agent was supposed to pull the client’s credit report.

Veterans United specializes in two programs to help veterans refinance their home loans: the VA streamline refinance, also called an interest rate reduction refinance loan (IRRRL), and cash-out refinancing.

What we like: Positive Veterans United reviews praise the company for its competitive rates and dedicated loan specialists. The loan team is available to help and answer questions every step of the way. According to one reviewer who refinanced a VA loan, the process is quick, easy and stress free.

What to consider: One reviewer stated that they refinanced their home for a second time through Veterans United last year. The review indicated that the process took longer the second time. It is unclear whether or not the COVID-19 pandemic is to blame for the delays.

Like any big financial decision, refinancing a mortgage can seem like a complicated process. These days, refinancing is easier than ever — you can practically do it all online if you want. Learn about what to expect from refinancing below. For more information, read about how refinancing a mortgage works.

You can get a refinance loan through banks, credit unions, online lenders, mortgage brokers, correspondent lenders, wholesale lenders and portfolio lenders. As you compare, look for ones with competitive rates, transparent fees and good customer service.

Keep in mind that you will need specific documentation and paperwork. This could include W-2s, bank statements, tax returns and pay stubs. Having this information in order before you apply could make the process much easier.

Below are several steps to consider taking before choosing a refinance lender.

1. Consider your financial goals.

   Refinancing is popular because it’s so versatile. You can use it to get cash out, lower payments, consolidate debt, remove private mortgage insurance and more.

   Let your financial goal inform where you start looking for a lender. For instance, if you want to refinance a VA loan, look for lenders that specialize in that particular loan type.

2. Shop around for the best rates.

   Even a small difference in interest rates can add up to a lot of money over time. Know when to lock a rate in. You can pit lenders against each other — stirring up some healthy competition will likely work to your advantage.

   According to Bankrate, the average 15-year fixed refinance rate is between 2% and 2.4%. There are a few things you can do to get a better rate. Improving your credit score and paying points to the lender are some of the most popular ways to get a better refinance rate.

3. Look beyond APR.

   Everybody wants a low rate, but that’s not the only thing to consider. It’s important to understand the difference between interest rates and annual percentage rates. Put simply, the APR of a loan is the total annual cost of a loan, including interest and all other fees, expressed as a percentage.

4. Compare reviews and complaints.

   Reading verified reviews and complaints is a good way to get a sense of homeowners’ experiences with a refinance lender. Keep an eye out for red flags — avoid companies if you notice a pattern of complaints about poor customer service or high-pressure tactics.

5. Always read the fine print.

   Before you sign anything, it’s crucial that you thoroughly read your loan agreement, paying attention to the loan amount, loan term, interest rate, taxes, insurance and other costs and fees. Homeowners who are happiest with their refinance terms have a good understanding of what they are getting from their lender.