10 Best Mortgage Refinance Companies in 2022 (2023)

Refinancing your mortgage is one step you can take to reduce your monthly spending. In fact, by using a company to refinance your mortgage, you can get out of debt even faster.

With interest rates near historic lows, now can be a good time to refinance.

The sooner you refinance, the more money you can save if you qualify for a lower interest rate.

Consider these mortgage refinance lenders for competitive rates and flexible repayment terms to potentially pay off your mortgage faster.

Table of Contents

  • Top Mortgage Refinance Companies
    • 1. Veterans United Home Loans
    • 2. NBKC Bank
    • 3. Better.com
    • 4. LenderFi
    • 5. AmeriSave
    • 6. LoanDepot
    • 7. Freedom Mortgage
    • 8. Zillow Home Loans
    • 9. New American Funding
    • 10. Rocket Mortgage
  • FAQs
  • Summary

Top Mortgage Refinance Companies

When you refinance student loansor auto loans, you may not pay any fees.

But, when you refinance a mortgage, expect to pay closing costs between 3% and 6% of your loan amount. These fees (closing costs) include the home appraiser and title change fees.

Comparing refinance rates from several lenders can help you find the best rates and affordable closing costs.

1. Veterans United Home Loans

10 Best Mortgage Refinance Companies in 2022 (1)

Active and retired military members may like Veterans United Home Loans. They specialize in refinancing VA loans.

One option is their VA Streamline Refinance option. You may know this loan as an Interest Rate Reduction Refinance Loan (IRRRL). Both of these are the same loan, but have different names.

Depending on your loan and property value, you may avoid certain fees. First, select applicants can skip the appraisal fee. And, others might be able to waive the VA Funding Fee.

Also, you have the option to defer paying closing costs. Instead, Veterans United rolls them into the loan balance. This can be a good idea if you can’t afford the closing costs right now.

But, you will have a higher APR and monthly payment as a result. If possible, pay the fees now to pay less in interest.

To refinance, you must have a history of on-time payments. In the past 12 months, you can’t have any payments that were late by 30 days or more.


  • Specializes in VA loans
  • Can get an online quote
  • 24/7 customer support


  • May need to apply at a local branch
  • Doesn’t show current rates without getting a quote

BBB Customer Reviews: 4.8 out of 5.0

2. NBKC Bank

10 Best Mortgage Refinance Companies in 2022 (2)

Like other lenders mentioned here, NBKC Bank processes your entire mortgage loan online, from application to closing.

NBKC (National Bank of Kansas City) can help you refinance your mortgage, purchase a loan or take out a home equity loan product even if you live in a state other than where branch locations exist.

You can expect fast processing times, a simple loan process, competitive rates and low lender fees with NBKC Bank.

Most loans can close within 30 days.


  • Wide variety of loan options
  • Fast application process
  • Conversion from variable to fixed available


  • May not offer some specialty loans
  • Must apply to see current rates
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BBB Customer Reviews: 4.8 out of 5.0

3. Better.com

10 Best Mortgage Refinance Companies in 2022 (3)

Better.com tries the make the refi process as quick and transparent as possible. Their website says that they don’t charge any lender fees or agent commissions.

You can also view the current rates for fixed and adjustable rate loans without getting a personal quote.

Better.com focuses mostly on conventional and jumbo loans.

You can refinance your single-family home or investment property with 1-4 units. They’ll refinance townhomes and condominiums as well.


  • Many conventional refinance loan options
  • Can see rates without getting a personal quote
  • Low closing costs and lender fees


  • Doesn’t support VA or USDA loans
  • Won’t refinance loans that LLCs hold
  • Only available in 46 states and Washington, D.C.

BBB Customer Reviews: 4.1 out 5.0

4. LenderFi

10 Best Mortgage Refinance Companies in 2022 (4)

LenderFi is a national direct lender founded in 2006 that handles the entire processing of your home refinance (or purchase).

The company goal: Offer you the most competitive rates with the least amount of paperwork and the fastest turnaround times. Okay, we’ll take that!

The mortgage options include:

  • 30-year fixed rate
  • 15-year fixed rate
  • 5-year variable rate

You can choose from conventional loans to FHA loans and many more. If you’re interested in getting the most competitive rates and fees when you refinance, consider LenderFi.


  • Competitive rates
  • No lender fees
  • Entirely online loan completion


  • No home equity loans
  • No VA loans

BBB Customer Reviews: 4.1 out of 5.0

5. AmeriSave

10 Best Mortgage Refinance Companies in 2022 (5)

When comparing mortgage refinance rates, get a quote from AmeriSave.

After they provide a quote, you have three days to find a lower rate. If you do, AmeriSave matches the rate. Or, they give you $500 if you close with the other lender.

There four different refinancing options:

  • 15-year fixed
  • 30-year fixed
  • 7-year Adjustable Rate Mortgage
  • 30-year FHA (Federal Housing Administration)

You can start the pre-qualification process by entering your home address. The software can retrieve your current homeowner details and get a personalized rate that doesn’t hurt your credit score.

If you like your rate quote, you can apply for refinancing.

You may need to pay a $500 nonrefundable application fee. This fee is somewhat high but reduces your closing costs if you qualify and close on an AmeriSave refinance.


  • Flexible repayment options
  • Discloses lowest rates online
  • Phone and live chat support
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  • Potentially high origination fees
  • $500 non-refundable application fee

BBB Customer Reviews: 4.0 out of 5.0

6. LoanDepot

10 Best Mortgage Refinance Companies in 2022 (6)

One of the oldest online mortgage refinance companies is LoanDepot. It’s well-liked because its agents don’t work on commission.

If your original mortgage is from LoanDepot, the company waives the lender fees when you refinance.

You can talk with a loan agent to find your best refinancing option if you have questions.

The entire application process takes place online and you can email or fax your documents.

One downside of the platform is not being able to see the potential refi rates until you request a personalized quote.


  • Online application process
  • Phone access to licensed loan officers
  • Repeat customers won’t pay lender fees


  • Must provide contact information to get a rate quote
  • No public rates and fees page

BBB Customer Reviews: 4.0 out of 5.0

Learn more: LoanDepot Review

7. Freedom Mortgage

10 Best Mortgage Refinance Companies in 2022 (7)

Freedom Mortgage can help you refinance conventional, FHA and VA home loans. Standard rate and term along with cash-out refinancing is available.

You can start the process by getting a personalized quote to speak with a loan officer. It’s also possible to speak with a loan officer by phone to compare your options.

The lender offers mortgage calculators to estimate your potential savings. They can help you compare homeowner’s insurance quotes and home protection plans too.


  • Most loans qualify
  • Hands-on loan officers
  • Multiple loan options


  • Several customer service complaints
  • Must get rate quote by phone

BBB Customer Reviews: 3.8 out of 5.0

8. Zillow Home Loans

10 Best Mortgage Refinance Companies in 2022 (8)

People like Zillow Home Loans for its ability to expedite your loan approval quickly. And, it has competitive interest rates.

The entire loan process occurs online. But, you can talk to a loan officer. The company offers a variety of purchase and refinance options.

Reviews speak of speedy results and excellent customer service. Zillow Home Loans serves 45 U.S. states and the District of Columbia.

They offer conventional loans, FHA loans, VA loans and more.


  • Online application process
  • Phone, mail, email customer support
  • Multiple loan options
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  • Not available in all 50 states
  • Doesn’t cater to borrowers with bad credit

BBB Customer Reviews: 3.4 out of 5.0

9. New American Funding

10 Best Mortgage Refinance Companies in 2022 (9)

New American Funding lets you see your potential savings by getting a free quote. You may appreciate the company because they are family-owned.

You can start the process online or by calling the toll-free number. After seeing your rates, you will work with a dedicated loan officer.

To start the refi process, simply enter your remaining loan balance and current credit score. Currently, New York and Hawaii residents cannot refinance on the platform.


  • Can apply online or by phone
  • Work with a dedicated loan officer
  • Available in most states


  • Cannot see fees or rates until you get a quote
  • Not available in every state

BBB Customer Reviews: 3.2 out of 5.0

10. Rocket Mortgage

10 Best Mortgage Refinance Companies in 2022 (10)

One of the largest mortgage refinance companies is Rocket Mortgage. It’s an offshoot of Quicken Loans. Like others on this list, the entire loan process takes place online.

It’s possible to view today’s current mortgage rates online. The online quote process is interactive and recommends loan terms using your refinance goals.

For example, do you want a lower monthly payment or pay off your loan faster?

You can apply for streamlined FHA loans. This loan spares you the expense of another home appraisal. And, your paperwork processes sooner.

Remember, you don’t begin saving money until you sign the closing papers. Speed is key and Rocket can be the fastest option if you qualify.

Also, Rocket underwrites 99% of the mortgages it issues. Many other lenders sell your loan to other banks. Maybe you’ll end up with a bank you’ve avoided because of poor service.

With Rocket Mortgage, expect them to service your loan the entire time.


  • Simple qualifying process
  • Minimal human interaction
  • Fast service


  • Does not offer lines of credit
  • Fees tend to be higher

BBB Customer Reviews: 2.8 out of 5.0


Here are answers to a few of the most common questions about refinancing.

How do lenders determine mortgage refinance rates?

Your new interest rate is the daily rate for the day you apply. If rates decrease before you close, some lenders will give you the lower rate.

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All lenders base their refinance rates on the 10-year U.S. Treasury term plus a spread. Although the changes are slight, mortgage rates change daily. Each lender can charge a different spread and closing fees.

For stability, lenders usually lock in your interest rate for 45 days. For most loans, this is ample time for the bank to process the paperwork.

What is the difference between interest rate and APR?

When you get a mortgage refinance quote, you might see two different rates. The first and usually lower rate is the interest rate.

The higher rate (that you pay) is the APR. The APR is higher because it includes any fees and points. So, APR includes all mortgage fees plus the loan interest rate.

To lower your APR, pay as many closing costs upfront as you can afford. By making upfront payments, you also reduce your loan principal. So, you pay less in interest.

By law, lenders must show the APR during the application process. When you compare mortgage companies, look at the APR.

Also, look at the interest rate. But, the APR is the more realistic mortgage rate.
Besides closing fees, your credit score and loan length affect your APR. Higher loan amounts and lower credit scores can increase your mortgage rate.

What is a loan repayment term?

The repayment term is how many years you have to repay your loan in full. Currently, most homeowners have a 30-year fixed rate mortgage.

This means you pay the same amount each month for 30 years.
When you refinance, you can choose a shorter repayment term.

For example, you might choose a 5-year or 10-year term. Your monthly payment might be higher than the current 30-year term.

But, you repay the loan sooner and you can save thousands of dollars in interest payments.

What credit score do you need to refinance a mortgage?

Most loans require a minimum credit score of 620. Some federal loans only require a 580 credit score.

Many lenders see if you pre-qualify to refinance. They check your credit score for free. And, these free quotes don’t count as a hard inquiry.

A higher credit scoremeans you qualify for the best interest rates. Having the smallest loan balance and shortest repayment terms also help.

Does refinancing your mortgage always save you money?

Not always. There are two reasons to refinance your mortgage. First, if you can get a notably lower interest rate. Second, if you need more time to repay your loan.

Always compare the closing costs to the potential savings. If you “lose” money refinancing, stick with your current loan.

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Try not to refinance because you need more time. If so, you will pay more in interest and fees. Yes, this is better than foreclosing. But, you also need to consider downsizing to a cheaper home or using these tips to reduce your monthly spending


Online lenders tend to be the best mortgage refinance companies. They usually offer lower interest rates and charge fewer fees.

And, you can complete most of the refinance process online. Use this list to choose the best refinance company for you.


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