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Accurate as of June 30, 2024

Best Mortgage Lenders of 2024

Get an improved mortgage rate, whether you want to pay off your loan sooner, remodel your home, or save money on interest.


What Is a Mortgage?

A mortgage is a home loan provided by a lender, typically a bank, lender, or mortgage company, to help you purchase property or other real estate. The mortgage process is a commitment to repay the loan amount over a specific period, usually 15 to 30 years.

During this time, the lender holds the property itself as collateral, ensuring the loan is repaid as agreed upon. Generally, mortgage loans come with lower interest rates than standard loans, since the lender can take your property if you fail to make payments on your loan.

What Is a Mortgage Refinance?

A mortgage refinance is a solution for when your current mortgage terms no longer suit your financial situtation. To refinance, mortgage companies will replace your current home loan with a new one for three basic purposes:

  • Shorter Loan Terms – Get a shorter loan with a lower interest rate and pay off your mortgage faster.
  • Lower Interest Rates – If market rates drop, secure a new, lower-rate mortgage to reduce monthly payments.
  • Access to Cash – Get funds quick with a home equity, cash-out refinance for renovations or other goals.

Should I Get a Home Equity Loan or Refinance?

Home equity represents the portion of your home that you truly own – it's the value of your home minus the outstanding mortgage balance. Home equity loans allow you to borrow against this value, and can be accessed through cash-out loans.

Refinance mortgage loans allow you to rework your current mortgage terms with the same or new mortgage company. If you’re struggling with your current mortgage terms, refinance mortgage loans are a smart choice. If you need access to funds for a renovation or other project, home equity loans may be a better choice.

How Can I Refinance My House?

Refinance mortgage loans can help to reduce monthly mortgage payments, shorten the mortgage loan lifespan, or tap into home equity for cash. Begin the process in just 5 steps, and expect 30 to 45 days for approval.

» Step 1. Compare Mortgage Lenders

    To start, always compare offers from multiple mortgage lenders. Look at interest rates, fees, and customer reviews to find the best home refinance companies that fit your needs.

» Step 2. Get Quotes from the Best Home Refinance Companies

    Once you’ve found the best place to refinance, home loans can be compared. Request quotes from multiple lenders to see what rates you might qualify for. This step typically won’t affect your credit score.

» Step 3. Apply for a Mortgage Refinance Home Loan

    Be absolutely sure you're applying for a refinance loan, not a second mortgage. Once you're prepared to submit your application, be ready for a credit check and a home appraisal as part of the approval process.

» Step 4. Review Your House Refinance Quote

    After applying, you'll receive a refinance home loan estimate from the lender. Carefully review this document to understand all the costs and terms associated with your new home loan.

» Step 5. Sign Your House Refinance Loan

    Once you think you’ve found the best place to refinance your home, carefully review and sign your documents. From here, you'll start making payments according to the new terms and your old mortgage contract will be replaced by the one you just signed.

Choosing the Right Mortgage Lender

TTaking time to compare home refinance lenders can help you find the best home loans available. Shop around to compare rates and terms offered by different lenders.

Investigate the refinancing lender's reputation by checking out mortgage refinance lender reviews and ratings. This can help to get a sense of the lender's track record and customer satisfaction.

Tips for Long-Term Mortgage Success

Through consistent, on-time payments, mortgages help build equity, provide potential tax benefits, offer stable housing costs, and help you build wealth and financial stability. Follow these tips to help you stay on track:

  • Budget Wisely – Create a budget that includes your mortgage payment, property taxes, insurance, and maintenance costs, and stick to it.
  • Build Equity with HELOCs – As you pay off your mortgage, you'll build home equity lines of credit (HELOCs) that can be used for all kinds of expenses, like home improvements, education, and debt consolidation.
  • Review Your Refinance Mortgage Options – Keep an eye on interest rates and the market. A mortgage refinance can lead to significant savings when rates are favorable.
  • Plan for Emergencies – Establish an emergency fund to cover unexpected expenses, ensuring you can continue making mortgage payments even during challenging times.

Additional Resources

Find top refinance mortgage companies and the best refinance mortgage loans for your specific needs, whether it's to secure more affordable payments, shorter loan terms, or lock-in a better rate.

» Company Comparisons – Refinance + Home Loans

Check out our ‘best refinance mortgage companies’ reviews of the lenders featured on our page and explore their refinance mortgage options.

» Mortgage Resources – Shop Around or Learn More

Explore our guide for first-time homeowners to learn more tips about how your home can help you build wealth over time.

» Our Selections – Best Mortgage Lenders 2024

Our analysts searched for the things you want to know, such as the ‘best place to refinance my home,' to find our best mortgage loan and refinance mortgage companies for 2024. Check out the ‘How We Rank’ section at the top of this page to learn more about the findmortgages.com ranking process and methodologies, as well as how we share information about our best mortgage companies with you.

How We Rank?

Learn more about how findmortgages.com rankings are determined.

Frequently Asked Questions (FAQ)

To refinance your mortgage, you generally need a credit score of at least 620. However, having a higher credit score (700 and above) can help you secure better interest rates and terms. Some mortgage refinance companies may accept scores as low as 500 with a higher down payment.
Mortgage refinance loans can potentially help improve your credit score in several ways. If you choose to refinance, mortgage options may be available to you with lower interest rate or better terms, making your monthly payments more manageable. Additionally, paying off existing debt and reducing your overall credit utilization can improve credit score over time.
Yes, you can refinance your mortgage with a different company than your original mortgage lender. Home refinancing with a new lender may offer you better terms, lower interest rates, or specific loan programs that your current lender does not provide. It's a good idea to shop around and compare offers from multiple mortgage refinance companies to find the best deal.
While some companies typically offer lower rates than others, the best company to refinance mortgage loans for lower rates depends on your individual financial situation and preferences. To find the best place to refinance your home, compare rates, fees, and reviews to determine which lender is the best fit for your needs.
To determine if home refinancing is right for you, assess your financial goals, current mortgage terms, and potential savings from lower interest rates or better loan conditions. Refinance your home if the benefits outweigh the costs, such as reducing monthly payments or shortening the loan term.
You can get cash-out loans from most mortgage lenders, including banks, credit unions, and online lenders. A cash-out loan can be a refinancing option where a borrower replaces their existing mortgage with a new, larger one, receiving the difference in cash to use for other expenses or debt consolidation.
To refinance the house, start by researching and comparing lenders to find the best refinancing rates and terms, then apply for a new mortgage. This will essentially pay off your existing loan, transferring it to a new mortgage with more favorable terms and a better payment model. Once approved, complete the necessary paperwork and close the new loan to finalize the refinancing process.