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Accurate as ofMay 11th 2025

Best 30-Year Refinance Rates for 2025

Refinance to get more options

Lower interest rates mean that you can save real money on your mortgage. Compare our top-tier providers and find the best 30-year refinance rates today.

Which refinance lender is right for you?
Which refinance lender is right for you?
rocket-mortgage logo image
NMLS #3030
9.6
BestMoneyscore
TrustPilot Score
Based on 36525 User Reviews
4.7
Brand Reputation
Based on web trends
4.9

Rocket Mortgage

Find a simple mortgage that works for you
8- to 30-year fixed-rate loans
Speedy app for customer service
Speedy document and asset retrieval
Get today's home loan rates
View Rates
800-970-6322
36,525Reviews
amerisave logo image
NMLS #1168
9.3
BestMoneyscore
TrustPilot Score
Based on 14974 User Reviews
4.6
Brand Reputation
Based on web trends
4.7

AmeriSave Mortgage

Get 30-year quotes and pre-qualify quickly
Refinance & home equity loans – Cash Out
Low rates: Quick Quote and Approval
Rate lock protection, lock now before rates go up
Over $100 billion funded. 21 years in business
14,974Reviews
new-american-funding logo image
NMLS #6606
9.6
BestMoneyscore
TrustPilot Score
Based on 1234 User Reviews
4.8
Brand Reputation
Based on web trends
4.8

New American Funding

Direct lender with a variety of refinancing options
100% online refinance application
Pay off debt & high-interest credit cards
Competitive refi rates, fast service
Live agents & online application available
1,234Reviews
sage-mortgage logo image
NMLS #3304
8.8
BestMoneyscore
TrustPilot Score
No reviews yet
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Brand Reputation
Based on web trends
4.4

Sage Home Loans Corporation

Low rates, fast closing, premium service
Unlock cash from your home today
Get pre-qualified in minutes
Look to lower your rate today
100% online application
quicken-loans logo image
NMLS #167283
9.1
BestMoneyscore
TrustPilot Score
Based on 20212 User Reviews
4.3
Brand Reputation
Based on web trends
4.8

Quicken Loans

Unlock cash from within your home
Get rates from our providers
Powerful home equity solutions
Connect with lenders for $0
20,212Reviews

19,599 users

picked a lender via BestMoney this week

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BestMoney Total Score
Our scoring system incorporates a weighted formula, which considers two parameters, Semrush and TrustPilot, providing a numerical score out of 10 and a star ranking out of 5 for each brand.
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Should You Refinance Your Mortgage Now? 

So how can you tell if it’s the right time for you to refinance your mortgage? Make sure you get the facts. Consider your current mortgage before you refinance:

Loan length:

You may have an original loan term of 15, 20, or 30 years, for example. The most common length of time for a mortgage loan is 30 years.

Loan term remaining:

If you continue making scheduled payments on your current loan, when will it be paid off? Do you want to pay off your loan faster? Or would you like more time to pay off your loan with lower payments?

Current interest rate:

Your latest statement from your lender should tell you the rate you’re paying now. If your interest rate is 0.75% or higher than today’s lowest rates, you may want to refinance. Even an interest rate difference of one-half of 1% can make a significant difference in your total interest expense, assuming you intend to stay in your home for more than a few years.

Fixed or variable interest rate:

If you have a low rate, but it’s on a variable-rate mortgage, you could face much higher interest expense and monthly mortgage payments when rates rise. Fixed and variable rate mortgages have very similar rates now. They probably won’t go much lower, and they’re likely to rise from their current lows. This could be an opportunity to lock in a low, fixed-rate for the duration of your mortgage.

Has Your Financial Situation Changed?

A new, refinanced mortgage may help you if you’ve had any of these changes in your life: 

Interest rate changes:

As interest rates have continued to edge lower, some homeowners have even refinanced twice in the last 12months. The most compelling reason for refinancing your mortgage may be the opportunity to get a lower interest rate—and save a significant amount of interest expense over the life of your loan.

Career and income changes:

Your financing needs to change with your income level and job security. For example, if your income and credit history have improved since you purchased your home, you may qualify for a more favorable loan now. With increased income, you might choose to refinance with a shorter term loan, such as a 15-year loan. On the other hand, if you’re facing financial stress, you may want to refinance with a longer term loan to minimize your monthly payments. 

Family changes:

Marriage, divorce, or other major family changes can affect how much you can afford to pay in mortgage payments. For example, if your partner has passed away, you may be having difficulty making your current payments. A longer term loan, perhaps at a lower interest rate, can make staying in your home more affordable. 

Financial changes:

You may want to refinance because of other financial changes. For example, if you receive an inheritance or other windfall, you could pay down your mortgage. 

You can generally make extra payments on your mortgage principal without getting a new mortgage. However, making extra payments does not reduce your monthly payments. If you’re paying off a significant percentage of your mortgage, you may want to take out a new mortgage. With a lower principal amount and potentially a lower interest rate, your new monthly payment may be considerably lower.

Other financial changes, such as deciding you want to retire early and you want your mortgage paid off before you retire, may also mean your mortgage needs have changed.

Time to get rid of PMI:

If you purchased a home with less than 20% down, you may be still paying for private mortgage insurance (PMI). You may be able to get rid of PMI without refinancing. However, refinancing to get rid of PMI isn’t a bad idea, especially if you get a lower interest rate at the same time. You are most likely to be able to get a new loan with no PMI if your home has gone up in value, you’ve been paying down the balance, or both.

Need to utilize home equity:

The difference between the value of your home and your mortgage balance is called your home equity. By taking out a larger new mortgage than your current mortgage, you can take equity from your home and put money in your pocket for other purposes. 

Refinancing to take out home equity got a bad name when homeowners repeatedly refinanced their homes before the recession about a decade ago, finding themselves underwater when real estate prices fell. That doesn’t mean utilizing home equity is always a bad decision. Taking equity from your home to make a purchase or pay off higher interest debt can be part of a wise, long-term financial plan, especially when the interest rate on your new mortgage is significantly lower than other sources of financing. 

How much does it cost to refinance a mortgage?

Refinancing a home often sounds like a good idea, but it’s important to remember that getting a new mortgage costs time and money. You typically pay a loan origination fee, plus closing costs and appraisal fees. You can also pay for discount points to lower your interest rate even more. 

As a general rule, you shouldn’t refinance your home if you expect to sell it within the next couple of years. Even if you lower your monthly payments, you won’t recoup the costs of refinancing. 

The longer you intend to stay in your home, the more important it is to make sure you have a mortgage with the right terms for your situation and at the most desirable interest rate. Taking the time to apply for mortgage refinancing now can save you a significant amount in mortgage interest, help you pay your mortgage off faster, or help you work toward your other financial goals.


Want to learn more? Be sure to check out these useful articles, or compare refinance lenders today.