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Best Mortgage Refinance Lenders of April 2025

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Best Mortgage Refinance Lenders of April 2025

Lower rates, better terms — here’s who to consider for your next refinance.

Refinancing your mortgage in April 2025 could be a smart financial move, especially as interest rates trend lower and homeowners seek to reduce monthly payments, tap into home equity, or shorten loan terms. But with so many lenders on the market, choosing the right one can be overwhelming.

We’ve rounded up some of the best mortgage refinance lenders this month based on rates, fees, loan options, customer service, and digital tools.

1. Chase

Best for: Existing Chase customers and in-person service

Chase continues to be a top pick for mortgage refinancing thanks to its wide range of loan options, including conventional, jumbo, FHA, and VA loans. Existing Chase banking customers may qualify for rate discounts, and the bank’s strong branch network is ideal if you prefer face-to-face service.

Pros:

  • Discounts for existing customers

  • Multiple loan types

  • Local branches and online tools

2. Bank of America

Best for: Strong digital tools and national reach

Bank of America is a reliable choice for borrowers seeking competitive refinance rates and easy access to online tools. With a user-friendly platform and a presence in all 50 states, the bank offers refinance options across all major loan types.

Pros:

  • Transparent rate quotes

  • Excellent mobile and online tools

  • No application or origination fees on some loans

3. Better

Best for: Fast, fully online refinancing

If you’re tech-savvy and prefer to refinance without stepping into a bank, Better might be your best bet. This online-only lender boasts a fast digital process, no commissions, and transparent pricing — ideal for homeowners who want speed and simplicity.

Pros:

  • 100% online application

  • No lender fees or commissions

  • Real-time rate quotes

4. Navy Federal Credit Union

Best for: Military families and veterans

Navy Federal offers refinancing tailored to military members and their families, including competitive VA loan options. They’re known for outstanding customer service and lower-than-average rates for eligible members.

Pros:

  • VA loan expertise

  • Strong customer support

  • Low fees and competitive rates

5. PenFed Credit Union

Best for: Competitive rates and member perks

PenFed offers a solid range of refinance loans, including conventional, jumbo, and FHA options. As a credit union, they often have better rates and fewer fees than big banks — and joining is relatively easy.

Pros:

  • Member-focused approach

  • Broad loan variety

  • Strong national presence

6. PNC Bank

Best for: Variety of loan programs

PNC provides a wide selection of refinance loan types, including USDA and VA loans. With both digital tools and physical branches, it’s a great hybrid option for borrowers who want flexibility in how they manage their refinance.

Pros:

  • Full spectrum of loan options

  • Branch access in most states

  • Solid reputation for customer service

7. SoFi

Best for: High-balance loans and no PMI

SoFi stands out for its jumbo loan offerings and for waiving private mortgage insurance (PMI) even with less than 20% equity — a rare perk. Their refinance process is fully online, and they cater to borrowers with strong credit profiles.

Pros:

  • No PMI with less than 20% down

  • High loan limits up to $3 million

  • Digital-first experience

8. New American Funding

Best for: Non-traditional borrowers and manual underwriting

New American Funding is great for borrowers with unique financial situations. They manually underwrite many loans, which helps self-employed or credit-challenged borrowers get approved. Their loan variety includes conventional, FHA, VA, USDA, and even reverse mortgages.

Pros:

  • Flexible underwriting

  • Variety of refinance products

  • Personalized support

9. Rocket Mortgage

Best for: Speed and convenience

Rocket Mortgage, the nation’s largest mortgage lender, continues to lead with its streamlined online refinance process. With a recent $9.4 billion acquisition of Mr. Cooper Group, it’s expected to expand its loan servicing capabilities even further.

Pros:

  • Fast application and approval

  • Strong online platform

  • Expanding customer support reach

10. Mr. Cooper (Now Part of Rocket Mortgage)

Best for: Smooth transition to Rocket’s ecosystem

Mr. Cooper was already a strong refinance lender, and with its merger into Rocket Mortgage, current and future borrowers can expect more streamlined services and new digital tools in 2025.

Pros:

  • Strong loan servicing background

  • Access to Rocket’s digital platform

  • Competitive refinance options

Final Thoughts: How to Choose the Right Refinance Lender

When selecting a mortgage refinance lender, here are a few key factors to consider:

  • Interest rate and APR – Lower rates mean bigger savings.

  • Fees and closing costs – Watch out for hidden fees.

  • Loan types available – Make sure they offer the refinance product you need.

  • Customer service – Look at reviews and support options.

  • Application process – Decide if you prefer online, in-person, or hybrid.

Refinancing isn’t one-size-fits-all, so shop around and get quotes from multiple lenders to find the best fit for your goals in 2025.

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