Money’s Best mortgage refinance main takeaways:
- The most popular reason to refinance is to lower your current mortgage rate, but you can benefit in other ways. You can shorten or lengthen the term of your loan or do a cash-out refinance to use some of your home equity.
- According to data analytics firm Intercontinental Exchange (ICE), those who recently benefitted from refinancing in September and October of 2024 reduced monthly payments by an average of $320.
- You should review your financial goals to determine if a mortgage refinance is the best choice for you.
Our top picks for the best mortgage refinance companies of 2025
- The companies below are listed in alphabetical order:
- Bank of America – Best for Member Discounts
- Better – Best for Fast Closing Time
- loanDepot – Best for Online Mortgage Refinancing
- Nationwide – Best for Custom Loans
- Navy Federal Credit Union – Best Credit Union
- Rocket Mortgage – Best Refinance Lender Overall
- Zillow – Best Marketplace
