Top 10 Best Mortgage Refinance Companies Of 2023

Mortgage Refinancing means paying off your current mortgage and obtaining a new one with a different interest rate & if you’re looking for Best Mortgage Refinance Companies then this guide is for you!

Obtaining Mortgage Refinance can lower monthly payments, reduce the term length, or both. 


Refinancing is not for everyone, but if you are currently stuck with a high-interest rate, it may be the best option to save yourself money in the long run.

Did you know, according to Bankrate, Home prices are estimated to increase by 5% in 2023? So checking out these mortgage refinance companies might be a good idea for you.

Whether you want to reduce monthly payments, shorten the term length, or both, here are our picks for the top 10 best mortgage refinancing companies for 2023.

Read: How Do We Review A Mortgage Refinance Company?

Best Mortgage Refinance Companies

Here are our 10 best options based on:

1. Rocket Mortgage — Best Overall

Rocket Mortgage
Rocket Mortgage

Rocket Mortgage has ranked first in the J.D. Power U.S Primary Mortgage Origination Satisfaction Study, surpassing other lenders for the eighth consecutive year in 2021. 

Despite the company’s strong online presence, it also has over 3,000 home loan professionals available seven days a week to assist you with your application over the phone.

Customers can have their property taxes and home insurance information immediately imported when they enter their address into Rocket Mortgage. 

Customers can use eClosing to change their rate, repayment term, and closing charges to see what additional payment options are available.

We picked Rocket Mortgage as the best overall mortgage refinancing company because of its exceptional track record in customer satisfaction, in-depth digital tools, and web-based customer service. 

The rocket was also the leading mortgage originator in the United States Of 2023.

Read Rocket Mortgage Review

Pros and Cons


  • JD Power has rated Rocket’s customer service as the best.
  • It features a mortgage refinancing rates calculator.
  • Rates and terms are available, as well as cash-out loans.
  • eClosing simplifies the online application procedure.


  • In places where shelter-in-place orders are in effect, it does not provide extended rate locks.

2. loanDepot — Best for Online Mortgage Refinancing


LoanDepot is known for its “Mello smart loan,” an end-to-end digital platform that uses artificial intelligence to verify asset and job data, as well as run credit checks and start the appraisal process.

Licensed loan counselors are also available at loanDepot to assist customers in choosing the best mortgage product for their specific financial condition. 

You can also easily obtain information on mortgage rates on the internet by calling its loan officers.

When you use loanDepot for mortgage refinancing, you get a lifetime guarantee. 

After you’ve refinanced with them at least once, the company will eliminate lender costs and pay appraisal fees on subsequent refinances.

Because of its outstanding platform and widespread availability throughout the United States, we chose loanDepot as the best mortgage refinance firm for online mortgage refinancing.

Read LoanDepot Review

Pros and Cons


  • With over 200 sites in 43 states, they are licensed in all 50 states.
  • Digital income, asset, and employment verification are all available.
  • Customers who prefer face-to-face service may visit affiliated loan stores.
  • Provides several renovation loan options.


  • There are no home equity loans or lines of credit available.
  • You’ll need to contact a loan officer to get mortgage rates since they aren’t available online.

3. AmeriSave Mortgage — Best Customer Service

AmeriSave Mortgage
AmeriSave Mortgage

AmeriSave Mortgage Corp. has been in operation since 2002 as an online lender.

It was one of the first to provide clients with an offsite, digital mortgage experience. 

Since its inception, the company claims to have financed over 390,000 homes.

AmeriSave, based in Atlanta, offers lending services in 49 states and Washington, D.C.

AmeriSave gets our vote for top customer service because of the simplicity and open transparency it has put into its online services.

The customer can explore interest rates in three steps, choose the best loan for them, then apply online or over the phone with a loan originator. 

There are no obligations or commitments to look for a loan, and there are no hidden costs. 

After the loan has been underwritten, the agents will organize a closing at a place and time that is convenient for you.

Fixed-rate, FHA, VA, USDA, cash-out, and adjustable mortgage rate (ARM) loans are all available. 

Down payments of as little as 3% are possible for first-time buyers, and mortgage insurance is not required for customers who put down more than 20% on a traditional loan.

Read AmeriSave Mortgage Review

Pros and Cons


  • Customers are free to look up interest rates and loan options.
  • A wide range of loan types and products are available.
  • Quotes are precise and aren’t estimates.
  • There are no hidden costs.


  • A recent exterior and interior evaluation is required.
  • Does not provide home equity loans or lines of credit.

4. Better — Best Mortgage Refinance for Fast Closing Time


Better Mortgage is a digital lender that offers a simple and quick mortgage refinancing process. 

The company’s loan programs offer some of the best lowest interest rates and closing costs in the market.

Better can avoid some of the fees charged by conventional brick-and-mortar lenders, such as application, origination, and underwriting fees since they operate entirely online. 

It also offers a price guarantee if another lender offers a lower rate on their refinancing products.

Better customers can use the lender’s secure website to submit and sign all their documentation. 

They can also speak with one of the company’s professional loan officers directly.

We picked Better as the best mortgage refinancing company for fast closing since clients can acquire a rate quote and letter of preapproval in just a few minutes. 

In addition, the lender promises to be able to finalize mortgages in as little as 14 days.

Read Better Review | All You Need To Know!

Pros and Cons


  • Preapproval for a loan can take as little as 20 minutes.
  • There are no commissions or fees charged by the lender.
  • Better offers a bridge loan option to tap your home equity when buying a new house.


  • VA and USDA loans are not available from this lender.
  • Better do not provide land loans or foreclosure loans.

5. PenFed Credit Union — Best Mortgage Variety

PenFed Credit Union
PenFed Credit Union

PenFed is one of the biggest member-owned credit unions in the nation, having been founded in 1935. 

You don’t have to be a member of the military to join PenFed. Non-military members must make a small donation ($10-$15) to a designated charity to become members.

PenFed offers low APRs and competitive rates. 

Furthermore, homeowners who wish to refinance do not have to pay any lender costs; they will only be liable for third-party charges like appraisals, title searches, credit reports, and other services needed to complete the mortgage.

PenFed is available in all 50 states, as well as Washington, D.C., Puerto Rico, and Guam.

Members may apply online or visit one of the lender’s branches in Maryland, Virginia, or Washington, D.C.

The Mortgage Member Benefits Program is a basic three-tiered lender credit worth $2,500.

The amount you save is determined by the size of your loan; thus, the larger the loan, the greater the savings.

Read PenFed Credit Union Review

Pros and Cons


  • Low-cost mortgages are available.
  • Member discounts of up to $2,500 are available.
  • Mortgages with a low minimum credit score are available.
  • There aren’t any lender fees.


  • Alternative data is not taken into account.
  • Only a few mortgage products are available.

6. Guild Mortgage — Best For First-Time Home Buyers

Guild Mortgage provides both in-person and online mortgage services.

Borrowers who prefer to do business in person can visit a branch location, which is located in 31 states. 

Borrowers in 48 states (excluding New York and New Jersey) can apply for a digital mortgage via its MyMortgage service.

Guild Mortgage is a good option for borrowers with poor credit scores since its minimum demand is 600, which is around 20 points lower than the typical lender. 

Guild Mortgage makes applying for a home loan simple and fast, making it a perfect choice for those who can’t afford to wait.

Guild Mortgage is a tech-forward company that offers services like auto-matching customers with down-payment assistance from state and local programs, which is excellent for people who don’t have time to conduct their research.

The lender provides a Homebuyer Express 17-Day Closing Guarantee program for customers in a hurry.

This is much faster than the industry average of 43 days to close.

If the loan doesn’t close on time owing entirely to a Guild Mortgage delay, the lender is required to pay $500 toward closing expenses.

Read Guild Mortgage Review

Pros and Cons


  • The minimum credit score is 600.A manufactured
  • A home loan option is available.
  • The lender guarantees a 17-day closure.
  • You can apply either online or at a physical location (which is available in 31 states)


  • On its website, Guild Mortgage does not list current mortgage rates.
  • They do not provide land loans or loans for the purchase of foreclosed properties.

7. Nationwide Home Loans — Best All-in-One Service

Nationwide Home Loans
Nationwide Home Loans

Because it only operates in eight states, Nationwide Home Loans was a close second for best overall. 

They offer the lowest prices as our best for all-in-one service.

You’ll enjoy a consulting experience as they listen to your goals and build terms that meet your requirements at cheaper rates and fees than anywhere else.

Because they are an in-house lender, Nationwide Home Loans offers terms ranging from five to thirty years, with conditions tailored to each customer.

For instance, if you owe 22 years on your loan, they can make a custom loan with a 22-year term.

It uses a mix of interest, credit, loan-to-value (LTV), and debt-to-income ratio (DTI) to determine loan prices. 

As a result, your interest rate will be lower if your credit score is greater.

If your credit score falls outside of this range, Nationwide will work with you to raise it so you can qualify.

According to Nationwide Home Loans, excellent customer service is focusing on the consumer and determining what works best for each individual’s specific objectives. 

Furthermore, its turnaround times are significantly shorter than the industry average.

Read Nationwide Home Loans Review

Pros and Cons


  • Best rate guarantee
  • Custom loan terms
  • In-house lender


  • A minimum credit score of 580 is required.
  • Only available in 8 states

8. LenderFi — Best Online Experience


LenderFi is the best online lender since it has no lender fees, rapid online approval, and the option to speak with a loan expert over the phone.

It provides a variety of purchase and refinances loan options, including standard FHA loans. It does not currently provide jumbo, VA, or USDA loans but plans to do so in the future. 

Single-family homes, multi-family homes, condos, co-ops, townhouses, prefabricated homes, and planned-unit projects are all covered by LenderFi.

LenderFi can finalize loans in as little as two weeks. It provides rate insurance, which means that if LenderFi rates decrease by 0.25 percent from your existing rate, LenderFi will rewrite your loan at no extra cost for the life of the loan. 

The requirement is that you make at least six current payments, excluding prepaid interest.

LenderFi has been in operation since 2006 and offers affordable fees for a wide range of loan options throughout the US, except for Missouri, Hawaii, Nevada, Utah, and New York.

Read LenderFi Review

Pros and Cons


  • No lender fees
  • Customers can close their loans in as little as two weeks after they apply.
  • Keeps mortgage rates up to date for online applications.
  • Rates and fees are cheaper than those offered by most other lenders.


  • There are no home equity loans available.
  • Not available in some states

9. Ally Bank — Best Best Mortgage Refinance For Fast Approval

Ally Bank
Ally Bank

Ally Financial is an online bank that specializes in home loans and refinancing mortgages.

It specializes in jumbo loans, which are loans with a higher borrowing limit than conventional loans.

Ally’s mortgage business is active in 40 different states.

Since there are no physical locations, you’ll have to start the mortgage application procedure online or over the phone.

Ally’s mortgage preapproval process is lightning fast, taking just three minutes.

Tax returns, credit reports, identification (driver’s license or passport), monthly bank statements, and a monetary gift letter are all essential documents (if applicable). 

The preapproval period may be longer for applicants who are required to provide extra information, such as evidence of income for self-employed borrowers, monetary gifts, or other assets. The average closing time for the lender is 36 days.

Customers using Ally can follow their progress online, e-sign papers, and upload documents at any time and from any location. 

You can do most of your work from anywhere as long as you have an internet connection.

Pros and Cons


  • The simplified online mortgage process
  • Preapproval for a loan takes just three minutes.
  • A HomeReady Loan is an option offered to first-time homeowners.
  • Borrowers can lock their rate in as little as a few minutes.


  • FHA, VA, and USDA loans are not available from this lender.
  • Land loans are not available.

10. Bank of America — Best For Discounts

Bank of America
Bank of America

Members of Bank of America’s Preferred Rewards program can save up to $600 on their purchase or refinancing origination costs by qualifying for a closing cost discount.

The program is divided into tiers that range from Gold to Platinum Honors, with discounts based on whatever tier each client qualifies for. 

Bank of America also offers digital services, such as an online tool that allows you to track the status of your mortgage loan and refinancing application in real-time.

While the company’s website does not provide credit score requirements, you may speak with one of their loan representatives to see whether you are eligible for refinancing.

Pros and Cons


  • Down payment and closing cost assistance options are available.
  • Physical branches can be found all around the country.
  • Provides a home equity line of credit (HELOC).
  • Existing clients may be eligible for a reduction in mortgage lender origination costs.


  • It does not provide renovation mortgage loans.
  • High closing fees


CompanyBest ForPriceBest FeatureRating
Rocket MortgageOverall$1200eClosing3.9/5
LoanDepotOnline Mortgage RefinancingN/ARenovation loan options3.8/5
AmeriSave MortgageCustomer Service$500Easy application process4.3/5
BetterFast Closing TimeN/AZero commissions4.2/5
PenFed Credit UnionMortgage Variety$50Multiple loan options4.6/5

Final Thoughts

The mortgage refinance industry is highly competitive, and it’s not uncommon for rates to fluctuate. 

It can be difficult to find the best company that offers low-interest loans with reasonable closing costs. 

We hope this list of the top 10 best mortgage refinance companies of 2023 will help you make an informed decision about who to go with when refinancing your loan in the future. 


What is mortgage refinancing?

Mortgage refinancing is when the borrower takes out a new loan for the original amount of their old loan. 

They are then given a new set of terms, including interest rate, number of payments, and length of repayment. 

What factors affect my eligibility for refinancing?

There are many different aspects that can determine if you qualify to refinance your current mortgage. 

You can consult a refinance professional or talk with your current lender to see if you’re able to save money through refinancing.

What's the difference between a conforming loan and jumbo loan?

Jumbo loans have higher borrowing limits than conforming loans, which means borrowers have more buying power when going for a jumbo loan. 

Interest rates on jumbo loans will also be higher than on conforming loans.

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