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Refinance VA Refinance Cash-Out Refinance Purchase Home Equity HELOC VA Reviews
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Best Refinance Mortgage Lenders of July 2023
Lower your monthly mortgage payments
Refinancing your mortgage loan can help you get lower interest rates to reduce
your monthly payments. Compare our top lenders and find the best refinance rates
for you.
Best Refinance Mortgage Lenders of July 2023
Refinancing your mortgage loan can help you get lower interest rates to reduce
your monthly payments. Compare our top lenders and find the best refinance rates
for you.
Best Refinance Mortgage Companies of July 2023

Last Updated July 2023
Filters
Filters
Loan Purpose
Purchase Refinance Home Equity
Credit Score
Excellent (720-850) Good (690-719) Fair (630-689) Poor (350-629)
Loan Purpose
Refinance
Purchase Refinance Home Equity

Credit Score
Good (690-719)
Excellent (720-850) Good (690-719) Fair (630-689) Poor (350-629)
9.7
Outstanding
TrustPilot is an open, global platform where users write product reviews and
assign products a star rating. In the event that a product does not have a
TrustPilot score, their score will be based solely on the User Engagement score
(see below).
Based on 10,841 Reviews
4.3
TrustPilot is an open, global platform where users write product reviews and
assign products a star rating. In the event that a product does not have a
TrustPilot score, their score will be based solely on the User Engagement score
(see below).
User Engagement
Based on the past 7 days
5.0
Our User Engagement score is rated on a scale of 3.00-5.00, and is calculated
based on the number of clicks a brand’s chart listing has received in the past 7
days. The greater the proportion of clicks a specific brand receives relative to
the other brands listed on the chart, the higher their user engagement score.
The User Engagement score is calculated separately based on the user’s device
(mobile engagement is scored independently of desktop engagement, for example),
and also by the specific type of mortgage loan they are comparing.
The brand’s chart position is influenced by the compensation we receive from
such brand. In some cases, this may also impact a brand’s User Engagement score.
Mortgage rates as low as APR 6.705%
NMLS #1168. Rates Effective 07/11/2023. See site for details.
 * Custom rate quote in < 3 minutes
 * Custom quote no SSN, no impact to credit
 * Low refinance rates + cashout refi option
 * 24/7 100% online application

View Rates
877-919-1885
8.9
Very Good
TrustPilot is an open, global platform where users write product reviews and
assign products a star rating. In the event that a product does not have a
TrustPilot score, their score will be based solely on the User Engagement score
(see below).
Based on 19,632 Reviews
4.6
TrustPilot is an open, global platform where users write product reviews and
assign products a star rating. In the event that a product does not have a
TrustPilot score, their score will be based solely on the User Engagement score
(see below).
User Engagement
Based on the past 7 days
4.4
Our User Engagement score is rated on a scale of 3.00-5.00, and is calculated
based on the number of clicks a brand’s chart listing has received in the past 7
days. The greater the proportion of clicks a specific brand receives relative to
the other brands listed on the chart, the higher their user engagement score.
The User Engagement score is calculated separately based on the user’s device
(mobile engagement is scored independently of desktop engagement, for example),
and also by the specific type of mortgage loan they are comparing.
The brand’s chart position is influenced by the compensation we receive from
such brand. In some cases, this may also impact a brand’s User Engagement score.
 * America’s largest mortgage lender
 * 24/7 online mortgage portal
 * Award-winning client service
 * Real-time updates on loan progress

View Rates
833-428-1940
8.7
Very Good
TrustPilot is an open, global platform where users write product reviews and
assign products a star rating. In the event that a product does not have a
TrustPilot score, their score will be based solely on the User Engagement score
(see below).
Based on 6,080 Reviews
4.5
TrustPilot is an open, global platform where users write product reviews and
assign products a star rating. In the event that a product does not have a
TrustPilot score, their score will be based solely on the User Engagement score
(see below).
User Engagement
Based on the past 7 days
4.3
Our User Engagement score is rated on a scale of 3.00-5.00, and is calculated
based on the number of clicks a brand’s chart listing has received in the past 7
days. The greater the proportion of clicks a specific brand receives relative to
the other brands listed on the chart, the higher their user engagement score.
The User Engagement score is calculated separately based on the user’s device
(mobile engagement is scored independently of desktop engagement, for example),
and also by the specific type of mortgage loan they are comparing.
The brand’s chart position is influenced by the compensation we receive from
such brand. In some cases, this may also impact a brand’s User Engagement score.
 * Digital-only mortgage platform
 * Loans customized to your needs
 * Opportunities to get cash toward closing
 * Millions of satisfied borrowers

View Rates
Read Review
8.2
Very Good
TrustPilot is an open, global platform where users write product reviews and
assign products a star rating. In the event that a product does not have a
TrustPilot score, their score will be based solely on the User Engagement score
(see below).
Based on 12,939 Reviews
4.4
TrustPilot is an open, global platform where users write product reviews and
assign products a star rating. In the event that a product does not have a
TrustPilot score, their score will be based solely on the User Engagement score
(see below).
User Engagement
Based on the past 7 days
4.0
Our User Engagement score is rated on a scale of 3.00-5.00, and is calculated
based on the number of clicks a brand’s chart listing has received in the past 7
days. The greater the proportion of clicks a specific brand receives relative to
the other brands listed on the chart, the higher their user engagement score.
The User Engagement score is calculated separately based on the user’s device
(mobile engagement is scored independently of desktop engagement, for example),
and also by the specific type of mortgage loan they are comparing.
The brand’s chart position is influenced by the compensation we receive from
such brand. In some cases, this may also impact a brand’s User Engagement score.
 * America’s largest mortgage marketplace
 * Compare offers from multiple lenders
 * Best site for finding low mortgage rates
 * Get up to 5 free quotes

View Rates
Read Review
7.6
Good
TrustPilot is an open, global platform where users write product reviews and
assign products a star rating. In the event that a product does not have a
TrustPilot score, their score will be based solely on the User Engagement score
(see below).
Based on 203 Reviews
3.5
TrustPilot is an open, global platform where users write product reviews and
assign products a star rating. In the event that a product does not have a
TrustPilot score, their score will be based solely on the User Engagement score
(see below).
User Engagement
Based on the past 7 days
3.9
Our User Engagement score is rated on a scale of 3.00-5.00, and is calculated
based on the number of clicks a brand’s chart listing has received in the past 7
days. The greater the proportion of clicks a specific brand receives relative to
the other brands listed on the chart, the higher their user engagement score.
The User Engagement score is calculated separately based on the user’s device
(mobile engagement is scored independently of desktop engagement, for example),
and also by the specific type of mortgage loan they are comparing.
The brand’s chart position is influenced by the compensation we receive from
such brand. In some cases, this may also impact a brand’s User Engagement score.
 * Trusted independent mortgage lender
 * Customizable loan options
 * Flexible repayment terms
 * Competitive refinance interest rates

View Rates
844-540-1024
7.8
Good
TrustPilot is an open, global platform where users write product reviews and
assign products a star rating. In the event that a product does not have a
TrustPilot score, their score will be based solely on the User Engagement score
(see below).
No reviews on

TrustPilot is an open, global platform where users write product reviews and
assign products a star rating. In the event that a product does not have a
TrustPilot score, their score will be based solely on the User Engagement score
(see below).
User Engagement
Based on the past 7 days
3.9
Our User Engagement score is rated on a scale of 3.00-5.00, and is calculated
based on the number of clicks a brand’s chart listing has received in the past 7
days. The greater the proportion of clicks a specific brand receives relative to
the other brands listed on the chart, the higher their user engagement score.
The User Engagement score is calculated separately based on the user’s device
(mobile engagement is scored independently of desktop engagement, for example),
and also by the specific type of mortgage loan they are comparing.
The brand’s chart position is influenced by the compensation we receive from
such brand. In some cases, this may also impact a brand’s User Engagement score.
 * Quick and easy comparison tool
 * A+ rating from Better Business Bureau
 * No maximum loan amount
 * Get rates without affecting credit score

View Rates
Read Review


INTRODUCTION TO MORTGAGE REFINANCING

A mortgage refinance involves paying off your old loan and replacing it with a
new one from a lender of your choice. People refinance for a variety of reasons,
including reducing their interest rate, shortening their repayment term, and
tapping into home equity to access cash.



The most important thing to know about refinancing is that it involves closing
costs, so it only makes sense to refinance if the new interest rate is
substantially lower than the old one. In principle, the more time that has
elapsed since your initial mortgage began, the wider the gap in interest rates
needs to be for a refinance to be profitable. As a rule of thumb, in the early
years of a mortgage a 0.75% lower interest rate should be enough to deliver
savings, while in the mid-to-late years of the repayment term, a 1-2% lower
interest rate is needed. Of course, always do your own calculations before
refinancing.






TYPES OF MORTGAGE REFINANCING PRODUCTS


STANDARD REFINANCE

A standard refinance follows the same rules as a standard mortgage, with a
choice of conventional loan or a government-backed loan such as an FHA loan or
VA loan. Basically, you pick the mortgage product that suits you and use it to
take out a new loan, replacing your old loan. The maximum loan-to-value (LTV) on
a standard refinance ranges from 80-97%, depending on the lender and loan type.




CASH-OUT REFINANCE

A cash-out refinance is when the new mortgage is greater in value than what you
owe on the old loan, allowing you to cash out the difference. A cash-out refi
can be used for any purpose such as paying off debt, paying tuition fees, making
home improvements, or putting money away for a rainy day.




NO-COST REFINANCE

As mentioned in the intro, refinancing involves 2-6% closing costs, just like a
regular mortgage. However, there is the option of not paying closing costs
through what’s known as a no-cost refinance. The way it works is that the lender
agrees to waive upfront closing costs in return for your commitment to spread
the costs over the life of the loan. This is a great way to obtain the benefits
of a refinance without having to pay anything now.




STREAMLINE REFINANCE

A streamline refinance refers to the refinance of an existing FHA streamline
loan (a type of FHA mortgage loan requiring limited borrower credit
documentation). A streamline refinance reduces the time and costs to get a
refinance. To qualify, your original mortgage must have been an FHA loan, the
mortgage must be current (not delinquent), and the refinance must result in a
benefit to you (by law, the lender cannot put you in a worse position in regards
to the interest rate or repayment term).










TYPES OF RATES


FIXED-RATE MORTGAGES

Fixed-rate mortgages are the most common type in mortgage refinancing, and
guarantee you a fixed rate for the duration of the loan. When you refinance with
a fixed-rate loan, you pay more in year one than you would with an
adjustable-rate mortgage. However, you protect yourself from the risk of having
to pay a higher rate and higher monthly installments later in life.




ADJUSTABLE-RATE MORTGAGES

Adjustable-rate mortgages, also known as ARMs or variable-rate mortgages, carry
higher risk and higher reward than fixed rates. An ARM is always cheaper than a
fixed-rate mortgage in year one, but it carries the risk of higher interest
rates in the long-term. ARMs have two components: the number of years the
initial rate gets locked in for; and the intervals at which rates get updated.
Most lenders offer ARMs of 3/1, 5/1, 7/1, or 10/1. A 3/1 ARM refers to an ARM
with a fixed rate for the first three years and a rate update every year after
that. The shorter your fixed period, the better your introductory rate (and the
riskier the loan). Because of their unpredictable nature, ARMs are best for
borrowers with high risk appetite or borrowers who plan on selling the home or
paying off the mortgage early.




HOW TO APPLY FOR A MORTGAGE REFINANCE

Whenever a lender refinances a mortgage, they take on a certain amount of risk
because there is never an iron-clad guarantee that the borrower will pay back
the entire loan. The best protection for the lender is the property itself,
which the lender can seize or foreclose if the borrower defaults on payments.
The other way lenders protect themselves is by running a background check on the
borrower – much the same as they do when approving a purchase loan.



When assessing your refinance application, the main things a lender will take
into account are your credit score, loan-to-value (LTV, amount you owe as a
percentage of the current appraised value of the home), and debt-to-income ratio
(the monthly payment on your refinanced mortgage and other loans divided by your
monthly household income). In order to assess your application, your lender will
ask for various documents including social security number, pay stubs and tax
returns, and recent bank statements.






WHAT TO LOOK FOR WHEN COMPARING MORTGAGE REFINANCE OPTIONS


LTV REQUIREMENTS

Loan-to-value (LTV) is as important a factor in refinancing as a down payment is
when purchasing. The LTV ratio is a term used by lenders for the ratio of a loan
to the value of an asset. If, for example, your home is worth $300,000 according
to the current appraisal and you have $270,000 remaining on your old loan, then
your LTV will be 90%. In this instance, a lender may offer up to 97% LTV on a
cash-out refinance, allowing you to cash out the remaining $21,000. Maximum LTVs
can range from 80-97%, so it’s worth comparing LTVs from different lenders.




APR

The monthly payments on a mortgage refi have two components: principal, as in
the amount remaining on your loan, and interest, as in the money the lender
collects for providing the loan. Your APR, or annual percentage rate, consists
of the interest rate plus certain other lender fees. The lower the interest rate
/ APR, the lower your monthly payments to the lender.




TERMS

When you refinance a mortgage, you can start your repayment term over again with
a 30-year term or you can go for a shorter term if you prefer. If your financial
position is better than when you took out your original loan, then one of the
main benefits of refinancing is that it allows you to shorten your repayment
term – putting you on track to owning 100% of your home sooner.




CLOSING COSTS

Like a purchase loan, closing costs for refinancing are the fees and charges
owed to the lender when the loan begins and usually range from 2-6% of the loan
value. Therefore, if you refinance for a loan amount of $300,000 and your
closing costs are 3%, you’ll owe the lender $9,000 in upfront fees. Closing
costs may include origination fees, property appraisal, title fees, taxes, and
various other costs – some of which go directly to the lender and some which the
lender collects on behalf of third parties. Closing costs vary from lender to
lender, so knowing each lender’s approximate closing costs can assist you in
doing a proper comparison.




EASE OF APPLICATION

Gone are the days when you had to walk into a physical branch to apply for a
mortgage refinance. These days, the best mortgage lenders let you apply for a
refinance online online, sometimes through a fully automated online mortgage
platform and other times with phone assistance from a loan agent. If convenience
is important to you, then keep an eye out for digital-friendly lenders.



3,781,006
people have compared refinance mortgage lenders with

How We Score
Our brand scores, which are rated on a scale up to 10, are based on our weighted
formula of TrustPilot and User Engagement scores.
TrustPilot Score

TrustPilot is an open, global platform where users write product reviews and
assign products a star rating. In the event that a product does not have a
TrustPilot score, their score will be based solely on the User Engagement score
(see below).
User Engagement Score

Our User Engagement score is rated on a scale of 3.00-5.00, and is calculated
based on the number of clicks a brand’s chart listing has received in the past 7
days. The greater the proportion of clicks a specific brand receives relative to
the other brands listed on the chart, the higher their user engagement score.
The User Engagement score is calculated separately based on the user’s device
(mobile engagement is scored independently of desktop engagement, for example),
and also by the specific type of mortgage loan they are comparing.
The brand’s chart position is influenced by the compensation we receive from
such brand. In some cases, this may also impact a brand’s User Engagement score.
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bestonlinemortgageloan.com is a free online resource that strives to offer
helpful content and comparison features to our visitors. We accept advertising
compensation from companies that appear on the site, which impacts the location
and order in which brands (and/or their products) are presented, and also
impacts the score that is assigned to it. Company listings on this page DO NOT
imply endorsement. We do not feature all providers on the market. Except as
expressly set forth in our Terms of Use, all representations and warranties
regarding the information presented on this page are disclaimed. The
information, including pricing, which appears on this site is subject to change
at any time.
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