LoanDepot offers a "Lifetime Guarantee" that waives lender fees and reimburses appraisal fees for future refinances with them. Down payment requirements: 3% for conventional loans, 3.5% for FHA loans, 0% for VA and USDA loans.
Rates & amounts
Minimum APR
5.85%
Maximum APR
7.35%
Lowest Nominal Interest Rate
5.75%
Highest Nominal Interest Rate
7.25%
Interest rate type
Fixed and variable
Minimum loan amount
$50,000
Maximum loan amount
$3,000,000
Minimum loan period
10 years
Maximum loan period
30 years
Loan Originator Fee
1%
Cancellation Fees
$0
Interest Adjustments
Example for ARMs: initial fixed period (3, 5, 7, or 10 years), then annual adjustments with caps
$0 lender fees (no origination, application, or underwriting fees)
Cancellation Fees
$0
Eligibility
First home
Yes
Second home
Yes
Investment property
Yes
Remortgage
No
Minimum age
18
Accepts Bad Credit History
No
National bank account
No
Citizenship
No
Electronic identification
No
Features
Bank account discount
No
Card usage discount
No
Insurance bundle discount
No
Direct debit discount
No
Interest free period
No
Maximum Amount Financed
No
Additional fields
Recommended company
No
we can't guarantee the complete accuracy on a day-to-day
Filters
Loan amount
Loan period
Eligibility requirements
Interest rate type
Mortgage purpose
Rate discounts
Product Statistics
A complete breakdown of all data points across the products in this comparison to help you make the right decision.
First home
4 (100%)
Second home
3 (75%)
Investment property
4 (100%)
Remortgage
1 (25%)
Minimum APR
5.85% - 6.38% (6.21%)
Maximum APR
7.35% - 7.63% (7.53%)
Lowest Nominal Interest Rate
5.75% - 6.13% (6%)
Highest Nominal Interest Rate
7.25% - 7.38% (7.31%)
Minimum loan amount
$50,000 - $50,000 ($50,000)
Maximum loan amount
$3,000,000 - $3,000,000 ($3,000,000)
Minimum loan period
122 months - 122 months (122 months)
Maximum loan period
365 months - 365 months (365 months)
Minimum age
18 - 18 (18)
Accepts Bad Credit History
2 (50%)
Direct debit discount
1 (25%)
Citizenship
1 (25%)
Electronic identification
1 (25%)
Interest free period
0 (0%)
Maximum Amount Financed
1 (25%)
Statistics based on 4 Mortgages products in our database.
CompanyLowestHighest
LoanDepot5.85%7.35%
Rocket Mortgage6.38%7.63%
Guaranteed Rate6.38%7.63%
Better Mortgage6.25%7.5%
Interest Rates
See how rates compare across all providers. The bars show the range between lowest and highest rates offered by each company.
Financer's Choice
Top Rated
LoanDepot
Average 30-year fixed rate was 6.79% in 2024, slightly above the industry average of 6.55%. Average origination fee of $4,909 and total closing costs around $10,063 per HMDA data.
Below-average rating in J.D. Power's 2025 Mortgage Origination Satisfaction Study. Some borrowers report communication gaps during closing, though others praise their loan officers.
Offers 10, 15, 20, and 30-year fixed terms plus 3, 5, 7, and 10-year ARMs. The lifetime guarantee waives lender fees on refinances for existing customers, adding real long-term value.
Digital application via mello smartloan is convenient, and closings can be up to 50% faster than average. Mixed reviews online, with Trustpilot and Yelp ratings showing polarized experiences.
Get exclusive conditions from the best financial companies
Mortgage Refinance Rates: The Short Answer
Mortgage refinance rates are the rates lenders offer when you replace your current home loan with a new mortgage. The new loan may lower your payment, shorten your term, switch your loan type, or let you take cash out of your home equity.
The rate is only the first number to compare. For a refinance, the APR matters even more because it includes lender fees, points, and other charges that can erase the savings from a lower interest rate. If two lenders quote the same rate but one charges higher fees, the APR should expose that difference.
Last verified June 18, 2026: Freddie Mac's weekly survey put the average 30-year fixed mortgage at 6.47% and the 15-year fixed at 5.81%. Those are broad market benchmarks, not guaranteed refinance offers. Your actual refinance mortgage rates depend on credit score, loan-to-value ratio, property type, points, cash-out amount, and the lender you choose.
Use the comparison tool on this page to compare current refinance rates. Then use the sections below to decide whether the lowest advertised rate is actually the cheapest loan for you.
Today's Best Mortgage Refinance Rates in 2026
Refinance rates today can change before tomorrow morning. Lenders reprice when bond yields move, when demand changes, or when their risk models shift. That is why we do not want you to rely on one static rate table copied from yesterday.
Instead, compare lenders by the numbers that decide your real cost:
Interest rate: the annual cost of borrowing the principal
APR: the broader annual cost after certain fees and points
Points: upfront money paid to reduce the rate
Origination and lender fees: charges the lender controls
Third-party costs: appraisal, title, recording, and settlement fees
Cash to close: how much you must pay now, unless costs are rolled into the new loan
If you are comparing mortgage lenders, ask each one for the same loan type on the same day. A 30-year fixed refinance should be compared with another 30-year fixed refinance, not with a 5/6 ARM or a 15-year loan.
For a quick reality check, look at both the rate and APR. The lowest interest rate is not automatically the best refinance rate if the APR is meaningfully higher than the rate.
How We Ranked Refinance Lenders
A refinance is not the same decision as a purchase mortgage. Purchase borrowers often care most about closing speed and preapproval certainty. Refinance borrowers should care first about whether the new loan saves enough money to justify the cost.
Our ranking framework puts these factors first:
Advertised APR vs. interest rate. We prefer lenders that make the all-in cost easy to compare. A low rate with expensive points may look good in an ad and still be worse than a slightly higher rate with lower fees.
Origination and lender fees. Refinance closing costs are a major part of the decision. We look for lenders that disclose fees clearly and do not hide behind vague "no-cost" language.
Estimated closing costs. Appraisal, title, recording, and settlement charges vary by state and loan size. You need the Loan Estimate, not just a rate quote.
Rate-lock terms. A rate quote is not the same thing as a lock. We favor lenders that explain lock length, extension costs, float-down options, and what can cause a locked rate to change.
Loan types and terms. Strong refinance lenders offer more than one path: conventional, FHA, VA, jumbo, 30-year fixed, 20-year fixed, 15-year fixed, and adjustable-rate options where appropriate. If you are comparing FHA options specifically, start with our FHA loan guide.
Digital application experience. Refinance applications require documents, income verification, payoff statements, and sometimes an appraisal. A clean upload process can save real time, but it should never outrank APR and fees.
Ranking factor
Why it matters for refinancing
What to compare
APR
Shows rate plus many finance charges
APR on each Loan Estimate
Points
Can buy a lower rate with upfront cash
Cost per point and monthly savings
Closing costs
Determine break-even time
Total loan costs and cash to close
Loan term
Changes monthly payment and lifetime interest
30-year, 20-year, 15-year, ARM
Rate lock
Protects you while the loan closes
Lock period, extension fee, float-down rules
Rate vs. APR: Why the Difference Gets Expensive
The interest rate tells you how much interest accrues on the loan balance. The APR gives you a broader annualized cost because it includes the interest rate plus certain fees, points, and mortgage broker charges.
That difference matters more on a refinance because you are choosing whether to pay new costs on a home you already own. A lender can quote an attractive rate and make the math work only if you pay points or roll costs into the new balance.
Here is the simple way to read it:
If the rate and APR are close, lender fees and points may be modest.
If the APR is much higher than the rate, the loan likely carries meaningful upfront costs.
If a lender advertises a "no closing cost refinance," look for a higher rate or lender credits that offset fees. Free usually means the cost moved, not that it disappeared.
For a deeper explainer, see our guide to APR vs. interest rate. Then compare that concept against your actual Loan Estimates.
Points and Closing Costs
Discount points are prepaid interest. One point usually costs 1% of the loan amount, though the exact rate reduction depends on the lender, loan type, and market conditions. On a $300,000 refinance, one point costs about $3,000.
Points are not automatically good or bad. They are a bet on time. If paying $3,000 lowers your payment by $85 per month, your point break-even is about 35 months. If you keep the loan longer than that, the point may pay off. If you sell or refinance again sooner, it may not.
Closing costs create the same question. Fannie Mae says refinance costs often fall around 2% to 5% of the new loan amount. That means a $350,000 refinance could carry roughly $7,000 to $17,500 in costs before lender credits, state differences, and escrow changes.
Use our closing costs guide if you want a line-by-line explanation before reviewing offers.
30-Year Refinance Rates vs. 15-Year Refinance Rates
Most homeowners start with 30 year refinance rates because the monthly payment is easier to handle. A new 30-year fixed loan spreads the balance over a longer period, which can lower the payment even if the rate is not dramatically lower.
The tradeoff is total interest. Restarting a 30-year clock can cost more over time if you are already several years into your current mortgage. The payment may feel better, but the loan can last longer.
A 15-year refinance usually comes with a lower rate and much less lifetime interest. The payment is higher because you are repaying principal faster. It works best when your income is stable, your emergency fund is solid, and your goal is to own the home free and clear sooner.
A 20-year refinance can be the middle path. It may lower the payment from a 15-year loan without fully restarting a 30-year timeline. Ask lenders to quote all three terms if your budget allows it.
Refinance term
Best for
Watch out for
30-year fixed
Lower monthly payment and budget flexibility
More total interest if you restart the clock
20-year fixed
Balance between payment relief and faster payoff
Payment may still be too high for tight budgets
15-year fixed
Paying off faster and reducing lifetime interest
Higher monthly payment and less cash-flow room
ARM refinance
Short planned holding period or expected future refinance
Payment can rise after the fixed period
Rate-and-Term vs. Cash-Out Refinance Rates
A rate-and-term refinance changes the rate, term, or loan type without taking meaningful cash out. You might use it to lower the monthly payment, remove mortgage insurance, shorten the payoff schedule, or move from an ARM to a fixed-rate loan.
A cash-out refinance replaces your current mortgage with a larger loan and gives you part of the difference in cash. Homeowners use this for renovations, debt consolidation, or large expenses. The cash is not free money. You are borrowing against home equity and putting the home behind that debt.
Cash out refinance rates are often higher than rate-and-term refinance rates because the lender takes more risk. Conventional cash-out loans also tend to have stricter equity requirements. A common ceiling for a one-unit primary residence is around 80% loan-to-value, though the exact limit depends on loan program, property type, occupancy, and underwriting.
If your goal is to tap equity, compare a cash-out refinance with a HELOC before locking anything. Our cash-out refinance vs. HELOC guide walks through that choice.
Is Refinancing Worth It? Use the Break-Even Math
The break-even calculation is the cleanest way to decide if refinancing is worth it.
Break-even months = total refinance costs / monthly savings
Example: your current mortgage payment is $2,250. A new refinance offer drops the payment to $2,050. That saves $200 per month. If the refinance costs $6,000, the break-even point is 30 months.
If you expect to keep the home and the loan for more than 30 months, the refinance may make sense. If you expect to move, sell, or refinance again in 18 months, it probably does not.
The old rule of thumb says refinancing can be worth it when your new rate is at least 0.5 to 1.0 percentage point lower than your current rate. That can be useful, but it is incomplete. A smaller rate drop can work on a large loan with low costs. A bigger drop can fail if points and fees are too high.
Also check lifetime interest, not only monthly payment. If you are 8 years into a 30-year mortgage and refinance into a brand-new 30-year loan, your payment may fall because you are stretching the debt back out. That can help cash flow, but it may increase total interest unless you make extra principal payments.
The best refinance rates usually go to borrowers who lower lender risk and compare offers within a focused window.
How to Lock the Lowest Refi Rate
Check your credit before lenders do
Mortgage pricing gets better as your FICO score improves. Many of the best rates go to borrowers in the upper credit tiers, often around 740 to 760 and above. If you are not sure where you stand, review what counts as a good credit score before applying.
Lower your loan-to-value ratio
More equity usually means less lender risk. Paying the balance down, waiting for an updated appraisal, or avoiding cash out can improve the rate and fees you are offered.
Compare multiple Loan Estimates
The CFPB says multiple mortgage credit checks within a 45-day window are recorded as a single inquiry. Use that window to compare several lenders instead of accepting the first quote.
Quote the same loan on the same day
Ask each lender for the same loan amount, property value, term, points, and lock period. Otherwise you are not comparing the same product.
Decide whether to lock or float
A lock protects you if rates rise before closing. Floating can help if rates fall, but it can also backfire. Ask about lock length, extension fees, and whether a float-down option exists.
Who Each Refinance Option Is Best For
Lower monthly payment: Consider a 30-year fixed rate-and-term refinance if your current payment is straining the budget and the break-even math works.
Paying off faster: Compare 15-year and 20-year refinance offers if you can handle the higher payment and want to reduce lifetime interest.
Pulling cash for renovation or debt: Compare cash-out refinance rates with HELOCs, home equity loans, and doing nothing. Do not turn unsecured debt into mortgage debt unless the full plan is realistic.
Switching ARM to fixed: A fixed-rate refinance can trade future uncertainty for a stable payment. This can be useful if your ARM reset is near and you plan to stay in the home.
Shopping named lenders: You may see mortgage options from lenders such as LoanDepot, Axos Bank, or Citi in Financer coverage. Treat lender names as a starting point, then compare the live APR, fees, and Loan Estimate for your own file.
Frequently Asked Questions
Are refinance rates good right now?
Refinance rates are better than some recent peaks but still high compared with the ultra-low rates many homeowners locked in during 2020 and 2021. The better question is whether your new APR, closing costs, and break-even time beat your current loan.
How much lower should my rate be to refinance?
A 0.5 to 1.0 percentage point drop is a common rule of thumb, but it is not enough by itself. Divide your closing costs by monthly savings to find the break-even point, then compare that with how long you expect to keep the new loan.
Does refinancing hurt your credit?
A refinance application can involve a hard inquiry, and the new loan can temporarily affect your score. The CFPB says multiple mortgage credit checks within a 45-day window are recorded as one inquiry, so concentrated rate shopping is usually better than spreading applications out.
How soon can you refinance a mortgage?
Some conventional loans can be refinanced soon after closing, but lenders and loan programs may impose seasoning rules. Cash-out refinances, FHA loans, VA loans, and loans with recent late payments can have additional waiting periods.
What credit score gets the best refinance rates?
The best pricing usually goes to borrowers in strong credit tiers, often around 740 to 760 and above, with low debt-to-income ratios and solid home equity. Lenders price the whole file, not only the score.
Are cash-out refinance rates higher?
Often, yes. Cash-out refinance rates can be higher than rate-and-term refinance rates because the new loan is larger and the lender takes more risk. Compare the cash-out offer with a HELOC or home equity loan before deciding.
