Best Refinance Lenders in Ohio 2026: Top 8 Ranked & Compared
Thomas Anderson
Ohio Refinance Expert | 13+ Years Experience
January 22, 2026
Looking for the best refinance lenders in Ohio? Ohio homeowners can save $200-$500/month by refinancing. We ranked the top 8 lenders offering lowest rates, fastest closings, and cash-out options.
6.15%
Avg Refi Rate
$312/mo
Avg Savings
$245K
Median Home Value
21 days
Avg Close Time
🏆 Top 8 Refinance Lenders in Ohio 2026
Better.com - Best Refinance Rates Ohio
6,800+ OH refis
Why #1:
- 💰 Lowest rates: 5.95%-6.15% APR
- 🎯 $0 origination fees
- ⚡ Close in 18 days average
- 💻 100% online process
- 🏆 Rate-and-term + cash-out
Best For:
Ohio homeowners wanting lowest rates + fastest closing
Rocket Mortgage - Best Overall Ohio Refinance
9,200+ OH refis
Why #2:
- 🚀 Fastest online application (8 min)
- 💰 Competitive rates: 6.05%-6.25% APR
- ⚡ Close in 21 days average
- 📱 Best mobile app
- 🏆 #1 refinance lender in Columbus
Best For:
Tech-savvy Ohio homeowners who want speed + convenience
📊 Ohio Refinance Rates by City 2026
| City | Median Home Value | Avg Refi Rate | Monthly Savings |
|---|---|---|---|
| Columbus | $268,000 | 6.10% | $325/mo |
| Cleveland | $198,000 | 6.15% | $240/mo |
| Cincinnati | $235,000 | 6.12% | $285/mo |
| Toledo | $165,000 | 6.18% | $200/mo |
💰 When to Refinance in Ohio 2026
✅ REFINANCE NOW IF:
- • Current rate is 7%+ (can drop to 6.1%)
- • You can save $200+/month
- • You have 20%+ equity (no PMI)
- • Credit score improved 50+ points
- • Need cash-out for home improvements
- • Want to switch from ARM to fixed
❌ DON'T REFINANCE IF:
- • Current rate is 6.5% or lower
- • Savings under $150/month
- • Planning to move in 2-3 years
- • Credit score dropped significantly
- • Less than 10% equity remaining
- • Break-even point is 5+ years
❓ FAQ: Ohio Refinance 2026
What are current refinance rates in Ohio?
January 2026 Ohio Refinance Rates:
- 30-year fixed: 6.05%-6.25% APR
- 20-year fixed: 5.85%-6.05% APR
- 15-year fixed: 5.45%-5.65% APR
- Cash-out refinance: 6.25%-6.45% APR
Rates vary by credit score, equity, and lender. Compare 3-5 lenders to find best rate.
How much does it cost to refinance in Ohio?
Ohio Refinance Closing Costs: 2-5% of loan amount
Example: $250,000 refinance
- Appraisal: $500-$700
- Title insurance: $1,000-$1,500
- Origination fee: $0-$2,500
- Credit report: $30-$50
- Recording fees: $100-$200
- Total: $5,000-$12,500
Many lenders offer no-closing-cost refinance (higher rate instead).
Can I do a cash-out refinance in Ohio?
YES! Ohio allows cash-out refinancing up to 80% LTV (loan-to-value).
Example:
- Home value: $300,000
- Current mortgage: $150,000
- Max cash-out loan: $240,000 (80% LTV)
- Cash you receive: $90,000
Use cash for: home improvements, debt consolidation, college tuition, investment property down payment.