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Information on Refinance Companies

The home mortgage refinancing company you select can impact everything from the competitiveness of your interest rate to the quality of customer service you receive. All refinance companies calculate risk differently, meaning they have different formulas in order to quantify how risky it is to lend to a certain borrower. As a result, your ability to qualify for a loan can vary significantly among refinance companies, as can the interest rates you receive. To find the refinancing companies that can best serve your needs, you will need to research your prospects thoroughly and shop around for the most affordable offers.

How to Find Refinancing Companies

The easiest way to begin your search for a home mortgage refinancing company is to call the lender that issued your existing mortgage. Ask your lender if refinancing loans are available, and if so, what rate you would receive if you decided to refinance your current mortgage. Write this number down—you will use it as a basis of comparison once you begin shopping for other refinance companies.

Your next step is to begin searching for more competitive offers online from other refinancing companies. You have two options at this point: you can either visit each refinance company’s site individually or you can use a comprehensive site like ours that provides multiple lenders’ rates at once. The refinance companies that participate in our referral network are some of the largest and most reputable lenders in the country, and they offer highly competitive refinancing offers. To see these offers for free at any time, complete the electronic form at the top of this page.

Narrowing the Field

If you request free quotes from refinancing companies on this site, the process will automatically pare down your options to four or five quality lenders. You will see the rates these refinance companies can offer you in a side-by-side format. If an offer from a home mortgage refinancing company seems particularly attractive to you, contact that lender to learn more about the loan. You might ask your lender about the total cost of the refinancing loan, the term, the interest rate and whether it will change over time, the monthly payment, and whether the lender offers points and how much they cost, if so.

Keep in mind that you might not qualify for every rate you see because of your credit history. The rates most refinance companies publish assume a very good credit rating. If you have credit challenges, you should contact potential refinancing companies individually to discuss how your credit score will affect the interest rates for which you may qualify.

National Rate Averages

Mortgage Rates

Product Rate
5/1 yr ARM 3.147%
1 yr ARM 3.299%
15 yr fixed 3.221%
30 yr fixed 3.815%

Home Equity Rates

* Updated Jun 8, 2012