Lowest Refinancing Rates Among Top Lenders
Lowest Refinancing Rates Among Top Lenders
With mortgage rates hitting all-time lows in recent months, 75% of homeowners—or 19.3 million—could refinance and lower their monthly mortgage payments, according to data from Black Knight, a software and analytics firm for the mortgage and lending industry. That is the largest number of potential refinance candidates on record, Black Knight says.
What’s more, the average homeowner could potentially reduce their mortgage payment by $299 a month by refinancing, according to the analysis. Nearly 2.5 million homeowners could save even more—at least $500 a month, the firm says.
Banks offer competitive rates for refinancing, and mortgage experts say it’s important to shop around to get the best rate and lowest closing costs. The Mortgage Reports has compiled a list of which lenders tend to offer the best refinancing rates. It tracked data on refinance loans from the largest lenders in 2019. The following lenders topped the list for offering the most competitive 30-year refinance rates, on average:
- Citizens Bank
- Navy Federal Credit Union
- USAA
- Veterans United
- Freedom Mortgage
- LoanDepot
- Bank of America
- Caliber Home Loans
- Quicken Loans
- Wells Fargo
Navy Federal Credit Union, USAA, and Veterans United are available only to eligible veterans, service members, and people affiliated with the military.
The lenders that tend to offer the lowest refinance closing costs, based on 2019 data, according to The Mortgage Reports, are:
- PNC: $1,018 (cost for a $250,000 refinance)
- Veterans United: $1,303
- USAA: $1,954
- Chase: $2,514
- Guaranteed Rate: $2,531
- Wells Fargo: $2,571
View the full list of lenders ranked from The Mortgage Reports’ analysis.
Source:
©National Association of REALTORS®
Reprinted with permission
admin
For all of your Real Estate needs, place yourself in the competent hands of a career Realtor who is a Philadelphia native and Delaware County resident. Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both.
Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary.
Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that “perfect” property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently.
When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting – or exceeding – his clients’ expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame.
For Superior Real Estate Representation in the Delaware Valley, Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania… call Anthony DiDonato.
