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Best Mortgage Refinance Lenders of August 2019

NerdWalletAugust 19, 2019

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

If you're interested in refinancing to a lower rate or lower monthly payment, we'll help you choose the best mortgage refinance lender for you. Check out our list of some of the best mortgage refinance lenders.

Rocket Mortgage

at Rocket Mortgage

Min. Credit Score

620

National / Regional

National

Pros

  • Offers conventional and government-backed refinance mortgages.
  • Customized loan recommendations based on refinance goals.
  • Automatically fills in your application with public information.
  • Helpful mortgage bankers are just a click away.

Cons

  • Doesn’t consider alternative-credit info for refinances.
  • No in-person customer service available.
  • Must create an account to see personalized refinance rates.
Read full review
Reali Loans

at Reali Loans

Min. Credit Score

620

National / Regional

Regional

Pros

  • No upfront origination or broker fees.
  • A shorter, more transparent refinance process.
  • Online platform lets you track your refinance every step of the way.

Cons

  • No FHA, VA or USDA refinance products.
  • Account required to see personalized refinance rates.
Read full review
Veterans United

at Veterans United

4.5

NerdWallet rating 

at Veterans United

Min. Credit Score

620

National / Regional

National

Pros

  • Offers VA IRRRL, or “Streamline,” and cash-out refinance loans.
  • Online application and prequalification available.
  • Offers 24/7 customer service.

Cons

  • Doesn’t publish refinance rates on its website.
  • Must provide some personal information for a customized refinance rate quote.
  • Physical locations not available in all states.
Chase

at Chase

Min. Credit Score

620

National / Regional

National

Pros

  • Fixed- and adjustable-rate refinance options.
  • Aims to close all refinance transactions in 60 days or less.
  • Customized rate quotes available online without providing personal info.

Cons

  • Physical locations not available in all states.
  • Charges an origination fee as well as other third-party fees for refinances.
  • You must speak with a mortgage banker to be approved.
Read full review
National / Regional

National

Min. Down Payment

0%

Pros

  • Wide range of affordable mortgage products designed for military members.
  • Willing to look at nontraditional credit data, such as rent payments, as part of its credit evaluation for certain products.
  • Lower minimum loan amounts than many other lenders.
  • Online application for preapproval with quick decision.
  • $1,000 mortgage rate match program.
  • Operates nationwide.

Cons

  • Charges application and underwriting fees.
  • Origination charge on a typical conventional loan is 1% of the loan amount.
Read full review
Min. Credit Score

620

National / Regional

National

Pros

  • Offers refinance loans with fixed and adjustable rates.
  • Online portal provides info and tools for refinance customers.
  • Spanish version of the website makes refinancing easier for Latino borrowers.

Cons

  • Limited number of physical branch locations.
  • Doesn’t consider alternative credit data.
  • Must call, email or start an online application to see refinance rates.
Read full review
Min. Credit Score

620

National / Regional

National

Pros

  • Apply and be approved for a refinance entirely online.
  • Suggests refinance loan products based on your financial goals.
  • No personal information required for customized refinance rate quotes.

Cons

  • Charges some fees, such as a lender fee which includes an application fee.
Read full review
Min. Credit Score

620

National / Regional

National

Pros

  • Offers refinance mortgages with fixed and adjustable rates.
  • Apply for a refinance loan online, in-person or over the phone.
  • Customized refinance rates available without providing personal info.
  • Fee discounts for Preferred Rewards customers.

Cons

  • Online complaints indicate inconsistent communication.
  • Time to process and close a refinance may be slower than other lenders.
Read full review
loanDepot

at LoanDepot

Min. Credit Score

620

National / Regional

National

Pros

  • Offers conventional and government-backed refinance mortgages.
  • Offers a “lifetime guarantee” on future refinances: no lender fees and reimbursal of appraisal cost.
  • Advertises a "no steering" policy for refinance loans.

Cons

  • Must provide personal information to get a customized refinance rate quote.
  • Has fewer high-tech refinance tools than other lenders, such as no mobile app.
Read full review
Min. Credit Score

NA

National / Regional

National

Pros

  • Offers no-mortgage-insurance refinances to homeowners with as little as 5% equity.
  • Online banking and mortgage management tools.
  • Strong marks for customer service.

Cons

  • No FHA, VA or USDA refinance loans.
  • Physical locations in only five states.
Read full review

Summary of Best Mortgage Refinance Lenders of August 2019

LenderBest For

Minimum Credit Score

National/RegionalLearn More
Rocket Mortgage

Rocket Mortgage

at Rocket Mortgage

online experience

620

National

at Rocket Mortgage

Reali Loans

Reali Loans

at Reali Loans

online experience

620

Regional

at Reali Loans

Veterans United

Veterans United

NerdWallet rating 

at Veterans United

government loans

620

National

at Veterans United

Chase

Chase

at Chase

traditional lender

620

National

at Chase

Navy Federal

Navy Federal

government loans

N/A

National

Read review
SunTrust

SunTrust

customer service

620

National

Read review
Guaranteed Rate

Guaranteed Rate

customer service

620

National

Read review
Bank of America

Bank of America

traditional lender

620

National

Read review
loanDepot

loanDepot

at LoanDepot

non-bank lender

620

National

at LoanDepot

Alliant

Alliant

credit union lender

NA

National

Read review
LenderBest For

Minimum Credit Score

National/RegionalLearn More
Rocket Mortgage

Rocket Mortgage

at Rocket Mortgage

online experience

620

National

at Rocket Mortgage

Reali Loans

Reali Loans

at Reali Loans

online experience

620

Regional

at Reali Loans

Veterans United

Veterans United

NerdWallet rating 

at Veterans United

government loans

620

National

at Veterans United

Chase

Chase

at Chase

traditional lender

620

National

at Chase

Navy Federal

Navy Federal

government loans

N/A

National

Read review
SunTrust

SunTrust

customer service

620

National

Read review
Guaranteed Rate

Guaranteed Rate

customer service

620

National

Read review
Bank of America

Bank of America

traditional lender

620

National

Read review
loanDepot

loanDepot

at LoanDepot

non-bank lender

620

National

at LoanDepot

Alliant

Alliant

credit union lender

NA

National

Read review

Last updated on August 19, 2019

Methodology

NerdWallet's selection of mortgage lenders for inclusion here was made based on our evaluation of the products and services that lenders offer to consumers who are actively shopping for the best mortgage. The six key areas we evaluated include the loan types and loan products offered, online capabilities, online mortgage rate information, customer service and the number of complaints filed with the Consumer Financial Protection Bureau as a percentage of loans issued. We also awarded lenders up to one bonus star for a unique program or borrower focus that set them apart from other lenders. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.

To recap our selections...

NerdWallet's Best Mortgage Refinance Lenders of August 2019