Refinance Mortgage with No Closing Costs

To find the best mortgage refinance lenders with no closing costs, we evaluated their terms, types, fees, financial reputation, and reviews.
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Refinancing a mortgage sounds simpler than it actually is: essentially, you're just replacing your current mortgage with a new one. Homeowners can decide to do so for a variety of reasons, including lowering their monthly payments, obtaining better rates, taking cash out of their home, and shortening the term of their loan, or a combination thereof.

Just as with a regular, first mortgage, however, a refinance generally includes a series of closing costs. These can amount to thousands of dollars, between credit fees, appraisal fees, points (which is an optional expense to lower the interest rate over the life of the loan), insurance and taxes, escrow and title fees, and lender fees. These costs can vary from state to state. Florida, for instance, there are no state taxes assessed on mortgage transactions. Loan processing fees also vary geographically.

Some homeowners prefer to avoid closing costs by going with a lender who'll waive them altogether. Another solution might be rolling them into their new mortgage, but this means they'll have to accept a higher interest rate over the life of their loan. This option may take five to seven years to recoup the closing costs. However, if their plan is to remain in the house for less than five years, this can be quite convenient. Another reason to avoid closing costs might be to obtain more cash to do renovations on your home. Not every lender will offer the option, but below, we've compiled a list of the best mortgage refinance lenders with no closing costs.

Top 4 Companies

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9.8 / 10

LendingTree provides homeowners looking to refinance their mortgage with the ability to access a variety of different lenders from their network. By searching through live rates, consumers can get multiple offers, in order to obtain the most cost-effective loan and compare across a number of different direct lenders. Some of these lenders have offers in which they waive closing costs altogether, whereas others can roll them into the loan amount. Another good reason to consider Lending Tree is that the application fee is always free.

JG Wentworth
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8.9 / 10

J.G. Wentworth helps homeowners obtain almost any type of mortgage for their refinance needs, including traditional fixed-rate mortgages, FHA, VA, or USDA loans, and the HARP program. They provide a series of helpful tools on their websites, such as refinance calculator, online chat with their representatives, and thoroughly comprehensive articles and guides. Though they don't guarantee that they can waive closing costs, it is one of the options available. Regardless, they offer some of the most competitive mortgage refinance rates in the industry, and exceptional customer service, paired with an easy-to-follow application process.

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8.9 / 10

SoFi ensures that closing costs are always kept at a minimum by never charging application, origination, or lender's fees. In just two minutes, SoFi connects you to their network of lenders and obtains a quote for your mortgage refinance. Typical applications close in less than a record thirty days, and if you're a member, you can also receive exclusive discounts. They're more limited in the type of loans they provide, but with a 15-year, 30-year, and a 7/1 adjustable rate mortgage (ARM) option available, every homeowner is sure to find a loan that fits their needs.

Loan Depot
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8.9 / 10

Loan Depot claims to be the second-largest consumer non-bank lender in the U.S., and most of this is is in mortgage loans. They offer conventional mortgages, FHA and VA loans, and HARP refinances across all fifty states. They have an A rating from the Better Business Bureau, with good reviews across the board, emphasizing their efficient, fast service. If there's enough equity in your home, they assure their customers that they can add all the fees and pre-paid items into their new loan. Alternatively, there are also no-cost and low-cost refinance options that can lower your rate and payment with no or minimal investment.

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Weighing the Essential Qualities



Mortgage Types - 25%

Qualifying - 20%

Mortgage Related Fees - 25%

Financial Reputation - 15%

Reviews & Support Service - 15%


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