Refinance Rate Comparison
Compare rates and find the best refinance deal for your mortgage
Savings Calculator
Current Payment
$1,995.91
New Payment
$1,750.72
Monthly Savings
+$245.19
Annual Savings
+$2,942.27
Lender Rate Comparison
| Lender | Interest Rate | APR | Closing Costs | Monthly Payment | Savings vs Current |
|---|---|---|---|---|---|
| Bank A | 5.75% | 5.85% | $4,500 | $1,750.72 | +$245.19 |
| Bank B | 5.88% | 5.95% | $3,000 | $1,774.61 | +$221.29 |
| Bank C | 5.63% | 5.78% | $6,000 | $1,726.97 | +$268.94 |
| Bank D | 6.00% | 6.08% | $2,000 | $1,798.65 | +$197.26 |
How to Get the Best Refinance Rate
Check Your Credit Score
A higher credit score qualifies you for better rates. Aim for 740+.
Shop Multiple Lenders
Compare rates from at least 3-5 lenders including banks, credit unions, and online lenders.
Consider Points
Buying discount points can lower your rate if you plan to stay long-term.
Negotiate Closing Costs
Many lenders are willing to waive or reduce certain fees.
Frequently Asked Questions
How do I compare refinance rates in 2026?
When comparing refinance rates, look at both the interest rate and the APR (Annual Percentage Rate). The APR includes closing costs and gives a better picture of the total cost. Also compare closing costs, lender reputation, and customer reviews. In 2026, compare at least 3-5 lenders.
What is a good refinance rate in 2026?
A good refinance rate is typically 0.75-1% lower than your current rate. However, it also depends on your credit score, loan amount, and market conditions. As of 2026, rates between 5.5-6.5% are considered competitive for well-qualified borrowers with 740+ credit scores.
What is APR and why is it important?
APR (Annual Percentage Rate) includes the interest rate plus all fees and costs associated with the loan, expressed as a yearly rate. It's a more accurate measure of the true cost than the interest rate alone. In 2026, use APR to compare lenders when closing costs vary significantly.
Should I refinance with my current lender?
Not necessarily. Your current lender may offer a "loyalty" rate, but it's always best to shop around. Many lenders offer better rates to attract new customers. Compare at least 3-5 lenders before making a decision. In 2026, online lenders often have competitive rates.
How many lenders should I compare?
Compare at least 3-5 lenders to ensure you're getting the best rate. Each lender may offer different rates and fees. In 2026, you can comparison shop within a 14-day window without multiple credit score impacts (all inquiries count as one).
What fees should I look for in refinance quotes?
Look for: origination fees (0.5-1% of loan), appraisal fee ($400-$600), title insurance ($1,000-$2,000), recording fees ($50-$200), and credit report fees ($30-$50). In 2026, total closing costs typically range from 2-5% of the loan amount.
How long does refinancing take in 2026?
Refinancing typically takes 30-45 days from application to closing. The timeline can vary based on lender efficiency, appraisal requirements, and documentation speed. In 2026, automated underwriting systems can speed up the process for well-documented loans.
Can I refinance if I have bad credit?
It may be more challenging, but options exist. FHA Streamline refinance or VA IRRRL programs have more flexible credit requirements. In 2026, you can qualify for conventional refinancing with scores as low as 620, though rates will be higher.
Should I refinance if I plan to move soon?
If you plan to move within 2-3 years, refinancing may not make financial sense due to closing costs. Calculate your break-even point: if closing costs are $6,000 and you save $200/month, you break even in 30 months. Moving before then means net costs.
What documents do I need for refinancing?
Lenders will need: W-2s/tax returns (2 years), pay stubs (60 days), bank statements (2 months), current mortgage statement, homeowner's insurance, and property tax information. In 2026, having all documents ready can speed up the process significantly.
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Disclaimer: This guide is for educational purposes only and does not constitute financial advice. Please consult with a qualified mortgage professional for personalized guidance.