Best Mortgage Lender for Cash-Out Refinancing


All reviewed mortgage lenders are evaluated against the criteria below. The lender with the highest raw score is our Best Mortgage Lender for Cash-Out Refinancing.
  • 1. Must offer cash-out refinancing.
  • 2. Dedicates a meaningful portion of its business to cash-out refinance lending. (Lenders are scored from 1-5 with > 41% representing the best score.)
  • 3. Charges low origination fees on cash-out refinance mortgages. (Lenders are scored from 1-5 with < $1,170.10 representing the best score.)
  • 4. Demonstrates rate transparency for consumers.
  • 5. Demonstrates an ease of online application for consumers.
  • 1. Lender with the lowest origination fee.

How we picked the lenders to evaluate:

NerdWallet reviewed more than 50 mortgage lenders, including the majority of the largest U.S. mortgage lenders by annual loan volume (measured among lenders with at least a 1% market share), lenders with significant online search volume and those that specialize in serving various audiences across the country. We rated them on criteria including rate transparency, loan types offered, ease of application and more.
Some of the providers are NerdWallet partners, but this did not influence our selection of the winner.

How we chose the winner:

The winner is the mortgage lender that had the highest raw score when evaluated against NerdWallet's cash-out refinance mortgage lender star-rating rubric: offers cash-out refinance (20%), dedicates a meaningful portion of its business to cash-out refinance lending (20%), has low origination fees (20%), demonstrates rate transparency for consumers (20%) and demonstrates an ease of online application for consumers (20%). In the event of a tie, the winner must charge the lowest fees.

How we verified our data:

NerdWallet solicits information from reviewed lenders on a recurring basis throughout the year. All lender-provided information is verified through lender websites and interviews. We also utilized 2021 Home Mortgage Disclosure Act, or HMDA, data for origination volume, origination fee, interest rate and share-of-product data.