By refinancing their mortgage, homeowners may be able to reduce the cost of their monthly mortgage payments.
Homeowners can save money through refinancing by securing a lower rate (if their existing mortgage has a rate higher than current market rates) or shortening the period of their mortgage so that their house is paid off more quickly. A simple option to access your home equity without selling your house is by refinancing your mortgage.
The most important element of any of these tactics is to look around for lenders who provide the greatest discounts first (low rates and low fees). This comprehensive list of the top lenders for borrowers wishing to refinance was developed by Forbes Advisor after comparing hundreds of lenders.
The borrower’s capacity to obtain a loan, loan options, affordability, and funding speed were the four primary areas we examined. By choosing lenders that stand out in these categories, we hope to make comparison shopping for you easier.
Best Mortgage Refinance Companies of 2022
- Best Overall: Quicken Loans (Rocket Mortgage)
- Best All-in-One Service: Nationwide Home Loans.
- Best for Customer Service: AmeriSave Mortgage.
- Best Online Lender: LenderFi.
- Best Bank: Bank of America.
- Best Credit Union: Alliant Credit Union.
- Best for Fees: Better.com.
If your current mortgage lender can provide you with a better deal than the other options you’ve considered, it is advisable to refinance with them. Before you put in the effort to compare rates from at least a few other mortgage brokers or companies, you won’t know if this is the case.