6 best mortgage refinance lenders

Whether you want to lower your monthly payment, lock in a better rate or tap into your home equity, refinancing your mortgage could help you reach your financial goals. We’ve picked the best mortgage refinance lenders that stand out for features including their loan options, application process and low fees.

Best for low fees: Better

Here’s why: Better’s entire application process is online, and you can check your estimated rate and loan term without affecting your credit scores. Better also offers a price-match guarantee: If it can’t beat a competitor’s qualified offer, it’ll give you $100. Better also won’t charge you origination, application or underwriting fees. That can make a real difference since you’ll already pay closing costs.

Best for using your home equity: New American Funding

Here’s why: New American Funding offers cash-out refinancing, which lets you convert your home equity into cash for major expenses like home renovations, debt consolidation or college costs. And if you refinance within five years of closing your original loan, New American Funding will waive lender and appraisal fees if you meet eligibility requirements.

Best for low closing costs: NewFi

Here’s why: NewFi offers a mortgage refinancing option to avoid out-of-pocket closing costs. Borrowers can either roll those expenses into the loan or take a higher interest rate — a trade-off that may be worth considering if you’re short on upfront funds. Just keep in mind that you’ll pay more over the life of your loan with these options. NewFi recommends speaking with a loan adviser as a first step, so you’ll have a real person guiding you through your options.

Best for multiple refinance loan options: CrossCountry Mortgage

Here’s why: CrossCountry Mortgage offers a good variety of refinancing types, including options for FHA loans, VA loans and USDA loans, as well as conventional and jumbo loans. You can apply online, and CrossCountry says it can close loans in as few as 21 days. Both fixed- and adjustable-rate options are available.

Best for borrowers with less-than-perfect credit: Freedom Mortgage

Here’s why: Freedom Mortgage offers FHA, VA and USDA refinancing options, including cash-out and streamline programs. The cash-out programs accept credit scores as low as 550, and the streamline programs typically require no credit check, income verification or home appraisal.

Best for repeat refinancing: LoanDepot

Here’s why: LoanDepot offers a lifetime guarantee: Once you refinance with LoanDepot, lender fees are waived on any future refinance. The lender offers conventional, VA cash-out, VA streamline, FHA cash-out and FHA streamline refinances. LoanDepot says most refinances take 45 to 60 days, though the company notes it often beats the industry average.