The Best Refinance Mortgage Lenders of 2019
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been previewed, commissioned or otherwise endorsed by any of our network partners.
A 30-year fixed-rate mortgage gives you the stability of a constant payment for the life of your loan. When it comes time to refinance, most people will be sticking with the same type of loan — and conventional lenders tend to vigorously compete for this business.
LendingTree reviewed data from hundreds of lenders across the nation that offer 30-year fixed rate refinance loans to reveal the top five best lenders of 2019. Our ratings are based primarily on the interest rate terms offered to refinance borrowers on LendingTree over the last 12 months, and then we took into account the quality of information each lender provides on their website. You can read up on our full methodology below.
Here are the top five 30-year fixed rate refinance lenders in 2019.
| TIAA Bank
TIAA Bank was founded more than 20 years ago as Everbank, and offers mortgage products along with a full line of standard banking products. It was acquired in 2017 by TIAA (Teachers Insurance and Annuity Association of America).
TIAA Bank offered a median rate of 4.66% for 30-year fixed refinance loans on the LendingTree platform.
The homepage features a navigation bar that a customer can browse for mortgage-related information. Basic information about buying a home, refinancing and getting a home equity loan can be found by clicking on the “Lending” drop down menu and selecting “Mortgage Solutions.”
The “Lending” dropdown also takes the customer to an “In the Know” column with a “Home Matters Insights,” which are in-depth articles about topics such as buying versus renting, things to avoid before applying for a mortgage, and other informative topics related to homebuying and refinancing.
There were no financial calculators, but the “Apply Now” button was prominently displayed on each information page, making it easy for a customer to begin the application process at any point while browsing the site.
| HomePoint Financial Corporation
Home Point Financial was founded in 2015 and is licensed to do business in all 50 states. The website provides an extensive library of educational tools and articles covering basic topics for first-time homebuyers and more in-depth subjects that will appeal to experienced borrowers.
Home Point Financial Corporation offered a median 30-year fixed refinance rate of 4.88% on the LendingTree platform.
Basic refinance program information can be found by clicking through the easy-to-find “Learn More” buttons within “I Want to Refinance” sections of the homepage. Each program has its own drop-down menu revealing additional information about who the loan program is good for and minimum qualifying requirements.
The “Resource Center” and “Home Loans” sections provide a variety of detailed articles about homebuying and mortgage financing related topics, with calculators and videos to provide readers with a number of different ways to become educated. The “Apply Now” buttons are featured prominently on the site and are easy to find.
| AmeriSave Mortgage Corporation
AmeriSave Mortgage Corporation has been providing mortgage since 2002 out of its corporate headquarters in Atlanta. The company is licensed to originate mortgages in 49 states.
AmeriSave Mortgage Corporation offered a median 30-year fixed refinance rate of 4.92% on the LendingTree platform.
The homepage provides an abundance of information about mortgages, with easy-to-find guides to buying a home, refinancing, and loan programs with basic information. The knowledge center provides a wide variety of more detailed articles and videos covering homebuying, refinancing and other frequently asked mortgage questions.
Although the site doesn’t feature mortgage calculators, there are numerous educational articles that provide most of the information a customer will need to make an informed decision about the type of loan program that is best for their financing needs, as well as some tips on mortgage shopping. The Apply Now button is easy to find at the top of each page, and there is a live chat option for any questions that might not be answered by the content on the website.
| KS StateBank
KS StateBank was founded in 1969, with its headquarters in Manhattan, Kansas. The bank has mortgage origination offices in Kansas, Minnesota and Arizona.
KS StateBank offered a median 30-year fixed refinance rate of 4.89% on the LendingTree platform.
The homepage does not have a menu specifically for mortgages, but the information about KS StateBank’s mortgage offerings can be found by selecting the “Personal” drop-down menu, then by clicking through to “Lending Solutions.” Loan types and product information can be found by clicking on the “Home Loans” link on this page.
The Home Loans page also features additional links with a documentation checklist for items needed to apply for a home loan, as well as a glossary of mortgage terms and mortgage calculators. There is no “Apply Now” button, however, the Lending Solutions menu features a “Find a Lender and Apply Today” link with individual contact numbers and web pages for loan officers at different KS StateBank branches.
| Mutual of Omaha Mortgage
Mutual of Omaha Mortgage is part of Mutual of Omaha Insurance Company, which has been in business since 1909. Its corporate headquarters are located in San Diego and the company offers mortgages in 18 states.
Mutual of Omaha Mortgage offered a median 30-year fixed refinance rate of 4.93% on the LendingTree platform.
The homepage has easy-to-find program and product information available by clicking on the drop-down menu buttons at the top of the page. Each drop-down page features basic explanations with pros and cons, as well as information about how each product can meet different home financing goals.
There is also a resources section with an assortment of different mortgage calculators, and a live chat bubble on the side to speak with a mortgage banker directly. There was no “Apply Now” button, although each page featured options to provide contact information to take the next step in the loan process.
How we choose our “best” lenders
A mortgage is likely the largest debt you will take on in your lifetime. That means it’s also probably the biggest part of your monthly budget, so anything you can do to lower it, such as refinancing, can go a long way increasing your monthly cash flow.
Our “best” 30 year fixed-rate refinance winners aren’t chosen based on rate alone, but also with a unique rating developed by our editorial staff called “Online Information Quality,” or OIQ. We’ve taken extra time to review the information you can access online, including how easy it is to access loan product information, use mortgage tools like mortgage calculators and fill out a loan application.
To determine the best 30-year fixed-rate refinance mortgage lenders, we analyzed data from actual loan terms offered by lenders to borrowers on LendingTree. We chose the top five lenders by rate for the last 12 months. Then we selected for refinance lenders that originate mortgages in at least 25 states. From that list, we gave each lender an OIQ rating based on answers to the following when accessing the lender’s main website. One point was given for each yes answer.
Is there general product information on the website?
If the website features both basic terms of the loan (30 year, 15 year, adjustable rates) and program offerings (FHA, Conventional, FHA, VA), it scores a full point.
Is there general home loan information on the website?
Borrowers can make the most informed decisions if they have additional information regarding mortgages in the form of explanation articles, FAQ sections or links to an informational blog. Sites that have additional mortgage information score an extra OIQ point.
Is the general home loan information easy to find?
If the information is available with less than two clicks on the homepage, it scores an extra point, since a consumer will be able to get the information easily without having to search extensively through the site.
Are there any education tools (e.g. loan calculators) on the page or at least one click away from the homepage?
Mortgage calculators, home value estimators and other tools help consumers to make educated decisions, so landing pages that feature them score an additional OIQ point.
Is it easy to find the “apply now” button?
Mortgage users in the digital age want a quick online way to apply for a mortgage, so if the “Apply Now” button is easy to find on the homepage, it will be easy for a consumer to apply once they’ve gotten the information they need to proceed to the next step in the mortgage process.
The information in this article is accurate as of the date of publishing.
Many older homeowners have built up significant wealth in their homes from years of steady mortgage payments. But in retirement, living expenses can squeeze a suddenly tight budget. A reverse …
When to Refinance Your Mortgage: Finding the Right Time
November 11, 2019
A mortgage refinance allows you to get a new mortgage that pays off and replaces your old one. Ideally, a refinance should result in lowering your monthly mortgage payment, getting …