2020’s Best Refinance Mortgage Lenders
Lock in Lower Interest Rates on your Mortgage
Refinance your mortgage loan and enjoy up-to-date interest rates
2020’s Best Refinance Mortgage Lenders
Refinance your mortgage loan and enjoy up-to-date interest rates
2020’s Best Refinance Mortgage Lenders
Updated August 2020
Advertising Disclosure
Low Rates
View Rates
Call Now
Our Score
Type of lender
Bottom line
Digital lender with strong reputation
100% digital mortgage process
Blockchain-powered refis
Largest mortgage marketplace
Top feature
Variety of closing cost options
Mobile app that tracks loan status
Near-instant approval and closing
Compares loans in seconds
Key figures
Repayment terms
10-30 years
8-30 years
30 years
10-30 years
ARM terms
5/1, 7/1, 10/1
3/1, 5/1, 7/1, 10/1
Credit Score
Loan Types
Loan that exceeds FHA’s conforming limits, usually more than $424,100.
Max $1.5m
Max $3m
Up to $10 million
Government-backed loan for borrowers with low credit, with 3.5-10% down payment
Government-backed loan for military personnel and veterans
Loans backed by Department of Agriculture for rural and suburban homes
More Info
Bottom Line
Digital lender with strong reputation
100% digital mortgage process
Blockchain-powered refis
Largest mortgage marketplace
With many different mortgage companies out there it can be challenging to find a refinance mortgage that suits you. However with the increase in comparison websites at your disposal, it is easier than ever before. Multiple different companies such as J.G. Wentworth and Lending Tree, offer you refinance mortgages that can be adapted to suit you. With flexible mortgage refinance interest rates, the choice is yours. Here we are going to look at different refinance mortgages and how they can benefit you.
Why Refinance Your Home?
Refinancing your home allows the homeowner to have a better interest rate when paying for a mortgage on your home. Refinancing most commonly takes place when the home owner believes that they can find a mortgage with a better interest rate in order to reduce payments being made on the home. This is beneficial to the home owner because it allows them to be in control of the interest rates that they are paying. Lower interest rates are beneficial when paying off a mortgage, however there is a catch. Every time you refinance your mortgage you are adding years to the overall time of payment. Therefore, it is not advised to refinance your mortgage when you only have 36 months left as you will end up paying more. With resources such as online finance, you can refinance your mortgage. The length of the refinanced mortgage is completely up to you with companies offering 15 year and 30 year repayment loans, the choice is up to you.
How To Find The Best Deal For You
Price comparison websites have made it increasingly easy to find a mortgage that benefits you, the current market leader is Lending Tree. Lending Tree offer you multiple different refinancing mortgages that benefit you no matter the home. With prices varying dependant on the size of the accommodation that you are remortgaging, there is a service that best suits everyone. Price comparison websites help to make it easier than ever, as they compare all prices of people offering this service and give you the best available prices based on your unique requirements. When the mortgage has been found, you then will have to lock the mortgage rate. This will insure that the interest rate you are paying is set for the period of time within your contract.
Cashing Out During Refinance
During the time of refinancing your mortgages companies such as J.G. Wentworth allow to you cash out on your home equity. This is an option that comes with many pro’s and con’s as the ability to turn your home equity into money could mean that your house could be at risk if you cannot pay the mortgage. However, the Pros of being able to do this you can use the money to pay off medical bills or college fees, allowing you to have a carefree life with minimal debts. This is however completely up to the homeowner as home equity can be built up and protected in order to give you financial security if monthly repayments where to be missed.
Top Mortgage Lenders
View Rates
  • Offers 3% down conventional loans
  • Loan experts are on hand to assist at any time
  • Full suite of non-conventional loans
  • No home equity loans
  • No weekend phone hours
AmeriSave Mortgage Corporation is a direct mortgage lender operating in 49 states and DC. Since 2002, it has financed more than $220,000 homes to the tune of $52 billion in funding. It is known for its competitive rates and streamlined application, with approvals in as quickly as 25 days. It offers a wide range of loans, making it a good choice for anyone looking to purchase a home or refinance their mortgage.
View Rates
  • Digital-only mortgage platform
  • Loans customized to your needs
  • Only cash-out refinance option is available
  • No physical branches
One thing makes Rocket Mortgage stand out from all other mortgage lenders: speed. Some lenders might be able to offer you better rates, others might offer great customer service, but few come close to matching Rocket for speed. This might seem like a small thing, but speed is important in the mortgage industry. Getting stuck with a time-consuming mortgage application and not even knowing whether you’ll get approved can be costly in terms of both time and energy. With Rocket, you know where you stand within a few minutes of applying and you can save time by having all your documentation verified automatically.
View Rates
  • Get approved in 5 minutes
  • Competitive rates
  • No need for extensive paperwork
  • Limited to 30 states
  • Only HELs, no first mortgages
  • Minimum credit score of 620+
Figure is a fintech company that uses blockchain, artificial intelligence, and advanced analytics to provide consumer credit products. Founded in 2018, it offers its own unique versions of home equity loans (HELs) and reverse mortgages. By leveraging blockchain, the same technology that powers cryptocurrencies like Bitcoin and Ethereum, Figure is able to approve HEL applications immediately – and to send the funds to the borrower within 5 days
How Easy Is It To Refinance My Mortgage?
Refinancing your mortgage is now easier than ever with the ability to use an online mortgage refinance program. It’s as simple as picking a supplier suitable for you and applying online. You will get a quote back in within minutes and be able to begin your journey of finding a suitable mortgage for you. The more websites that you use the wider the range of mortgage refinance offers you will receive, allowing you to fix the rate and the rest is taken care of. With 24/7 customer service there is someone helping you through every aspect of remortgaging your home in order to get the best quality deal for you.
Lending Tree
The current market leader Lending Tree makes refinancing your home easy, they shop around for the best mortgage for you based off of the information you supply them, allowing you to rest assured that you are getting the best possible mortgage for your home. Just make an account and follow the easy to follow instructions and be well on your way to finding a mortgage. No matter your credit score, they will assist you with any problems that you may encounter, with their large network of people every question will be answered quickly and effectively.
What To Expect From These Sites And How Can They Help You?
Each of these websites are uniquely designed to help you find a mortgage tailored to you! You enter your information and they do the rest, they sort out the interest rates and which fixed rate will benefit you based on information such as your credit score and spending habits. The lower the credit score, the more limited your mortgage choices will be, however the higher your credit score the more availability you will have. Therefore, it is beneficial to check your credit score before applying for a loan in order to increase chances.
Mortgages are something to be strongly considered and should not be taken lightly, with all the above elements in mind it is important to conduct the relevant research before changing mortgages to ensure that you can afford to do so. However, with this websites and plenty of financial aids it’s easier than ever to successfully refinance your home no matter your financial situation.
Must Reads
Read All
Fed’s Near-Zero Rate Decision Means Cheaper Mortgages Probably on the Way
Surprisingly, mortgage rates went up immediately after the Federal Reserve slashed the benchmark interest rate to near-zero on March 15. This was probably just a temporary bounce, and in all likelihood mortgage rates will quickly begin moving downward again. In otherwise difficult times, low mortgage rates will bring cheer to people hoping to buy or refinance
Read More
Find the Best HARP Loans Lender
If you find yourself unable to refinance your mortgage because your home is falling in value, then there is a federal government program designed to assist you: the Home Affordable Refinance Program (HARP).
Read More
Find the Best VA Home Loans Lenders
VA home loans have helped more than 22 million veterans purchase their own home since the 1940s and continues to be available today through some of the nation’s best mortgage lenders
Read More
Answering the What, How and Why of Home Equity Loans
Is it a mortgage? Or is it a personal loan? If you’ve been searching the market for a loan, you’ve probably come across the home equity loan.
Read More
Best Lenders for FHA Loans
If you’re a home owner and find yourself in need of a large amount of cash to fund a major expense such as a renovation, medical expenses, or your kids’ college tuition, one type of loan you should consider is a home equity loan
Read More
Find the Best Lenders for First Time Home Buyers
If you qualify as a first-time buyer and have begun shopping around for a mortgage and a new home, we have good news to tell you: some of the nation’s best lenders will be willing to offer you a home loan with a down payment of less than the usual 20%. All you need to do in return is pay private mortgage insurance (PMI), which typically costs 0.5% to 1% of the value of the loan annually.
Read More
Guide to Mortgage Loans for Manufactured Homes
An estimated 20 million Americans live in mobile homes, and not all of them fit the overplayed stereotype of being poor. According to the most recent U.S. Census, there were 8.5 million mobile homes scattered throughout the country. Around 57% of these homes were occupied by at least one person in full employment, and an additional 23% were occupied by retirees.
Read More
10 Factors You Should Consider When Choosing Your Mortgage Loaner
If there is one thing that I have learned over my time, it’s that unless you’re a banker or a mortgage loaner, you probably don’t understand everything there is to know about mortgages. In fact, I’m willing to bet that you’re here because you’re looking for a mortgage loaner and aren’t sure where to start. This is where this guide comes in. When it comes to finding a mortgage loaner, it’s important to think everything through properly, which is difficult when you aren’t sure where to begin – so here are our top 10 things you should consider when choosing a mortgage loaner.
Read More
What is The Right Time To Refinance Your Mortgage?
If you’ve been weighing up whether or not to pay off your existing loan and replace it with another one, also known as refinancing your mortgage, then our handy guide is here to help. Sometimes refinancing sounds like a good idea on paper, but in reality it’s not always possible or practical. Lenders are tightening up their rules and regulations, making it more difficult to acquire a loan, so we’ve put together a complete guide to help you decide whether it’s the right time to refinance.
Read More
Types of Mortgages Loans
Whether it’s your very first home, or you’re moving for the third time in your life, moving house is always an exciting process. Amongst all of the giddiness though, there is usually a lot of stress involved. We all know that mortgages aren’t cheap, and that if we want to be able to cope with the monthly payments, we have to choose the right one for our needs and lifestyle. In 2017, homebuyers are left with a very difficult decision, as there are numerous types of mortgage loans on the market, all offering something unique but useful. If you’re amongst the thousands who are struggling to make a final decision, hopefully this in depth guide will help you to identify the right mortgage loan for you.
Read More
Why Credit Score Matters in Mortgage Applications
In most cases, maintaining a strong credit score is the most important thing you can do to ease your mortgage application process. You credit score and report help your lender determine your ability to pay back your home loan. Therefore, your lender will take into account your score and report when assessing whether to offer you a mortgage loan and when calculating your rate and terms.
Read More
Mortgage Industry Review 2017
American home buyers had a fantastic 2017, with the average 30-year fixed-rate mortgage falling from 4.32% to 3.95% (before rising back to around 4.5% by May 2018) and total home sales rising 1% to 5.51 million, the highest figure since 2006. Beyond that, there was plenty of other big news in the mortgage industry last year, which we recap in this article.
Read More
First Time Buyer Guide
Buying your first home is an equally exciting and daunting process. After months of renting properties, or even living at your family home, you finally have the money ready to begin the process… But where do you start? There are several legal and financial steps to take before you can buy a home. Read on for our complete first time buyer guide, which will help you get to grips with all of the steps required to purchase your very first house.
Read More