Best of
Best Mortgage Refinance Lenders of August 2019
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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.
at 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.
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at 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.
at Veterans United
4.5
NerdWallet ratingat 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.
at 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.
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.
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.
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.
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.
at 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.
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.
Summary of Best Mortgage Refinance Lenders of August 2019
| Lender | Best For | Minimum Credit Score | National/Regional | Learn More |
|---|---|---|---|---|
Rocket Mortgage at Rocket Mortgage | online experience | 620 | National | at Rocket Mortgage |
Reali Loans at Reali Loans | online experience | 620 | Regional | at Reali Loans |
Veterans United NerdWallet rating at Veterans United | government loans | 620 | National | at Veterans United |
Chase at Chase | traditional lender | 620 | National | at Chase |
 Navy Federal | government loans | N/A | National | Read review |
 SunTrust | customer service | 620 | National | Read review |
 Guaranteed Rate | customer service | 620 | National | Read review |
 Bank of America | traditional lender | 620 | National | Read review |
loanDepot at LoanDepot | non-bank lender | 620 | National | at LoanDepot |
 Alliant | credit union lender | NA | National | Read review |
| Lender | Best For | Minimum Credit Score | National/Regional | Learn More |
|---|---|---|---|---|
Rocket Mortgage at Rocket Mortgage | online experience | 620 | National | at Rocket Mortgage |
Reali Loans at Reali Loans | online experience | 620 | Regional | at Reali Loans |
Veterans United NerdWallet rating at Veterans United | government loans | 620 | National | at Veterans United |
Chase at Chase | traditional lender | 620 | National | at Chase |
Navy Federal | government loans | N/A | National | Read review |
SunTrust | customer service | 620 | National | Read review |
Guaranteed Rate | customer service | 620 | National | Read review |
Bank of America | traditional lender | 620 | National | Read review |
loanDepot at LoanDepot | non-bank lender | 620 | National | at LoanDepot |
Alliant | credit union lender | NA | National | Read review |
Last updated on August 19, 2019
Methodology
To recap our selections...
NerdWallet's Best Mortgage Refinance Lenders of August 2019
- Rocket Mortgage: Best for online experience
- Reali Loans: Best for online experience
- Veterans United: Best for government loans
- Chase: Best for traditional lender
- Navy Federal: Best for government loans
- SunTrust: Best for customer service
- Guaranteed Rate: Best for customer service
- Bank of America: Best for traditional lender
- loanDepot: Best for non-bank lender
- Alliant: Best for credit union lender
