If you’re reading this, chances are, you’re contemplating mortgage refinancing. You’re not alone; according to a study by the Mortgage Bankers Association, nearly half of all U.S. homeowners refinance their mortgages at some point. But the burning question is, which company to choose? Not to worry, we’ve got you covered. Let’s dig into the ten best mortgage refinance companies that can potentially save you thousands of dollars in the long run.
Best Mortgage Refinance Companies 2023
1. Quicken Loans
Often recognized as one of the leading mortgage refinance companies in the United States, Quicken Loans makes the top of our list. It provides various loan options, including adjustable-rate, fixed-rate, FHA, and VA loans. With its robust online platform and round-the-clock customer service, navigating the refinance process has never been easier.
2. Better.com
Second on our list, Better.com is renowned for its streamlined digital platform that accelerates the refinance process. On average, customers get pre-approved for loans in just three minutes! Plus, there are no commissions or lender fees, meaning more savings for you.
3. LoanDepot
Next up is LoanDepot, which is the second-largest non-bank consumer lender in the United States. What makes it unique is its lifetime guarantee, providing free refinances for returning customers. And don’t worry about being overwhelmed with information; LoanDepot’s licensed loan officers are there to guide you throughout the process.
4. Fairway Independent Mortgage Corporation
Fairway impresses with its impressive range of loan options and top-notch customer service. They offer a speed-to-close guarantee, promising to close your loan quickly. In 2020, J.D. Power recognized Fairway as the mortgage company with the highest customer satisfaction.
5. United Wholesale Mortgage (UWM)
United Wholesale Mortgage stands out as the largest wholesale mortgage lender in the United States. While they don’t work directly with borrowers, their extensive network of mortgage brokers allows you to find competitive rates. Their high-tech interface called UWM Touch provides brokers with a faster, smoother refinance process.
6. Guaranteed Rate
Looking for a user-friendly digital platform that simplifies the loan process? Guaranteed Rate is your answer. It offers both online and in-person assistance, helping you navigate through various loan options. Also, with its Intuitive Loan Finder, you can find a loan suitable for your needs within minutes.
7. Freedom Mortgage
Freedom Mortgage specializes in VA loans, making it an excellent choice for veterans and active military personnel. In addition to traditional loan options, they also offer USDA, FHA, and jumbo loans. According to a U.S. Department of Housing and Urban Development report, Freedom Mortgage is among the top ten mortgage providers in the country.
8. New American Funding
New American Funding is a family-owned company known for its dedication to serving diverse communities. It provides a variety of loan types, including cash-out, FHA, VA, and interest-only loans. With bilingual advisors and educational resources in Spanish, it makes refinancing more accessible to the Hispanic community.
9. Chase
A household name, Chase offers its customers the security and reliability that comes with a traditional bank. Its wide range of loan options, coupled with its robust online and mobile platforms, makes refinancing easy and convenient. Plus, existing Chase customers can take advantage of relationship discounts.
10. Wells Fargo
Rounding out our list is Wells Fargo, one of the largest banks in the U.S. It offers several refinance options, including fixed and adjustable-rate loans, FHA and VA loans, and jumbo loans. Customers appreciate its face-to-face service in nationwide branches and its easy-to-use online mortgage portal.
While this list features the best mortgage refinance companies, remember, the best one for you depends on your personal financial situation and objectives. Consider the types of loans offered, the interest rates, the lender’s reputation, and the quality of customer service when making your decision. As you embark on your refinancing journey, you’ll be armed with the knowledge to make the best choice for you. Happy refinancing!
