Best Refinance Lenders 2026: Top 10 Companies (Rates 5.89%+)
Best refinance lenders 2026: Rocket Mortgage 5.89%, Better.com 5.95%, LoanDepot 6.00% (30-year refi). Refinancing at 5.89% vs 7% current rate = save $200-500/month ($72K-$180K over 30 years). This complete guide compares top 10 refinance companies: rates, fees, reviews, loan types (rate-and-term, cash-out, FHA streamline, VA IRRRL), speed, and customer service. When to refinance: Rate 0.75%+ lower, cash-out for debt consolidation, remove PMI. Compare with refinance guide and cash-out options. Compare refinance rates now.
🏆 Top 3 Refinance Lenders (January 2026)
🥇 Rocket Mortgage
5.89%
30-year refi • Fast close
🥈 Better.com
5.95%
30-year refi • $0 fees
🥉 LoanDepot
6.00%
30-year refi • Great service
💰 Refinance Savings Calculator
Current $300K loan at 7% → Refi to 5.89%:
Top 10 Refinance Lenders Compared
| Lender | 30-Yr Refi | 15-Yr Refi | Fees | Rating |
|---|---|---|---|---|
| 🥇 Rocket Mortgage | 5.89% | 5.39% | $1,200 | ⭐⭐⭐⭐⭐ 4.8 |
| 🥈 Better.com | 5.95% | 5.45% | $0 | ⭐⭐⭐⭐⭐ 4.7 |
| 🥉 LoanDepot | 6.00% | 5.50% | $1,000 | ⭐⭐⭐⭐⭐ 4.6 |
| Quicken Loans | 6.02% | 5.52% | $1,300 | ⭐⭐⭐⭐ 4.5 |
| Guild Mortgage | 6.05% | 5.55% | $900 | ⭐⭐⭐⭐ 4.4 |
| New American Funding | 6.06% | 5.56% | $1,100 | ⭐⭐⭐⭐ 4.3 |
| Caliber Home Loans | 6.08% | 5.58% | $1,000 | ⭐⭐⭐⭐ 4.2 |
| Chase Bank | 6.10% | 5.60% | $1,500 | ⭐⭐⭐⭐ 4.1 |
| Wells Fargo | 6.12% | 5.62% | $1,600 | ⭐⭐⭐⭐ 4.0 |
| Bank of America | 6.15% | 5.65% | $1,700 | ⭐⭐⭐⭐ 3.9 |
💡 How to Read This Table
- • Rates: Based on 740+ credit, 20% equity, $300K loan
- • Fees: Origination + processing (not including title/appraisal)
- • Rating: Based on customer reviews, speed, service
- • Your rate may differ based on credit, equity, loan amount
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Detailed Lender Reviews
🥇 Rocket Mortgage
5.89%
30-year refi
✅ Pros:
- • Fastest closing (15-30 days)
- • Best online platform
- • 24/7 customer service
- • All loan types (FHA, VA, USDA, jumbo)
❌ Cons:
- • Higher fees ($1,200)
- • No in-person branches
- • Strict credit requirements (680+)
Best for: Fast closing, tech-savvy borrowers, excellent credit
Get Rocket Mortgage quote →🥈 Better.com
5.95%
30-year refi
✅ Pros:
- • $0 origination fees (save $1,000+)
- • Transparent pricing
- • Fast approval (24 hours)
- • Lower credit accepted (620+)
❌ Cons:
- • Rate slightly higher than Rocket
- • Limited loan types (no USDA)
- • Customer service inconsistent
Best for: Low fees, transparent pricing, good credit (620-740)
Get Better.com quote →🥉 LoanDepot
6.00%
30-year refi
✅ Pros:
- • Excellent customer service
- • In-person + online options
- • All loan types available
- • Flexible credit requirements
❌ Cons:
- • Slower closing (30-45 days)
- • Moderate fees ($1,000)
- • Rate slightly higher
Best for: Personal service, complex situations, all loan types
Get LoanDepot quote →When Should You Refinance?
✅ Good Reasons to Refinance
- • Rate 0.75%+ lower: Save $100-300/month
- • Remove PMI: 20%+ equity = save $100-300/month
- • Cash-out: Debt consolidation, home improvements
- • Shorten term: 30-year → 15-year (pay off faster)
- • Switch loan type: ARM → fixed (stability)
❌ Bad Reasons to Refinance
- • Rate only 0.25% lower: Closing costs = not worth it
- • Extend term: 15-year → 30-year (pay more interest)
- • Cash-out for vacation: Bad debt on appreciating asset
- • Moving in 2 years: Won't recoup closing costs
- • Credit dropped: Will get worse rate
Frequently Asked Questions
What is the best refinance lender?
Rocket Mortgage (5.89% rate, fastest closing) for most borrowers. Better.com (5.95%, $0 fees) if you want to save on closing costs. LoanDepot (6.00%, great service) if you need personal guidance. Best strategy: Get quotes from all 3, compare total costs (rate + fees), choose lowest. Compare all 3 lenders. See full lender comparison.
How much can I save by refinancing?
$100-500/month depending on rate drop. Example: $300K loan, 7% → 5.89% = save $223/month ($80,280 over 30 years). Break-even: Closing costs $3,000 ÷ $223/month savings = 13 months. Rule: Refinance if you'll stay in home longer than break-even period. See refinance calculator.
What credit score do I need to refinance?
620+ for conventional, 580+ for FHA, no minimum for VA (but lenders prefer 620+). Best rates: 740+ credit. Credit impact on rate: 740+ = 5.89%, 700-739 = 6.09%, 660-699 = 6.35%, 620-659 = 6.65%. Tip: Improve credit before refinancing to get better rate (pay down credit cards, dispute errors).
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