Leading cash-out refinance lenders of the year 2025
Thinking about a cash-out refinance? Here's some insider info on the top lenders for 2025.
Best cash-out refinance lenders
Consider these top-rated lenders for a smooth and financially advantageous cash-out refinance experience.
| Lender | Credit Requirements | Our Score ⭐️⭐️⭐️⭐️ ||--------|--------------------|----------------------|| Chase | 620 for conventional, 680 for jumbo, 640 for FHA, VA, 1920 for VA jumbo | 🏆 4.9 || Bank of America | 620 for conventional loans | 🏆 4.8 || Better | 620 for conventional, 580 for FHA, 620 for VA loans | 🏆 4.8 || Navy Federal Credit Union | Undisclosed | 🏆 4.8 || PenFed Credit Union | 650 for conventional, 700 for jumbo, 620 for FHA, VA loans | 🏆 4.8 || PNC Bank | 620 for conventional, 620 for jumbo, 620 for FHA, USDA loans| 🏆 4.8 || SoFi | 620 for conventional, 600 for FHA, 600 for VA loans | 🏆 4.8 |
Chase 🏆
Available in all U.S. states, Chase offers a wide range of loans, including conventional, jumbo, FHA, VA, and refinancing options. Minimum credit score requirements vary depending on the loan type, ranging from 620 to 680.
Chase
Pros:
620 for conventional loans, 680 for jumbo loans, 640 for FHA loans, 640 for VA loans
- Nationwide availability with 4,700 branch locations
- Rate discount for existing Chase customers
- $5,000 closing guarantee
4.9
Cons:
- Not the best fit for borrowers with unique credit or financial situations
- Not available in all states
Bank of America
Bank of America 🏆
620 for conventional loans
Boasting availability in all U.S. states, Bank of America offers a variety of loans, including conventional, jumbo, FHA, VA, and refinancing options. The standard minimum credit score requirement is 620 for conventional loans.
4.8
Pros:
- Offers grant programs for low- and moderate-income buyers
- Displays rates online
- Rewards discounts for Preferred Rewards customers
Better
Cons:
620 for conventional loans, 580 for FHA loans, 620 for VA loans
- No USDA loans available
- Limited transparency around borrower requirements
4.8
Better 🏆
With a focus on online services, Better offers loans for conventional, FHA, VA, and refinancing options. The minimum credit score requirements range from 580 for FHA loans to 620 for other loan types.
Navy Federal Credit Union
Pros:
Undisclosed
- Completely digital, with real-time online rates, three-minute preapprovals, and hybrid closings.
- One Day Mortgage with approval in as little as 24 hours for eligible borrowers
- Price Guarantee matches or beats competitor offers
4.8
Cons:
- Limited branch locations in just 10 states
- No USDA loans available
PenFed Credit Union
Navy Federal Credit Union 🏆
650 for conventional loans, 700 for jumbo loans, 620 for FHA loans
Navy Federal Credit Union caters to military members and their families. Lending options include conventional, jumbo, VA, and refinancing, with undisclosed minimum credit score requirements.
4.8
Pros:
- Allows up to two rate relocks
- Provides rate-match guarantee or pays $1,000
PNC Bank
Cons:
620 for conventional loans, 620 for jumbo loans, 620 for FHA loans, 640 for USDA loans
- Membership is required to borrow
- No FHA or USDA loans
4.8
PenFed Credit Union 🏆
Providing a range of loans, including conventional, jumbo, FHA, VA, and refinancing options, PenFed Credit Union is available nationwide. Minimum credit score requirements range from 620 (FHA loans) to 700 (jumbo loans).
SoFi
Pros:
620 for conventional loans, 600 for FHA loans, 600 for VA loans
- Convenience of managing banking and mortgage within the same provider
- Competitive rates
4.8
Cons:
- No USDA loans
- No ability to customize rates online
- Higher minimum credit score requirements for some loan types
PNC Bank 🏆
PNC Bank offers a wide selection of loans, including conventional, jumbo, FHA, VA, USDA, and refinancing options. The minimum credit score requirements range from 620 (FHA loans, jumbo loans) to 640 (USDA loans).
Pros:
- Offers both online and in-person options for application
- Application can be tracked online
- Wide availability with many loan options
Cons:
- Higher credit minimum on FHA loans
- Limited mobile app functionality
- Below-average J.D. Power rating for mortgage servicing
SoFi 🏆
A digital lender, SoFi offers loans for conventional, jumbo, FHA, VA, and refinancing options, with minimum credit score requirements ranging from 600 (VA and FHA loans) to 620 (conventional loans). They are not available in Hawaii and New York for refinances.
Pros:
- Closes on time or offers up to $10,000 to cover additional costs
- Opportunity for up to $9,500 rebate if you work with a SoFi partner real estate agent
Cons:
- No USDA loans available
- No branch locations, everything happens online or through the app
So whether you're looking to pay off high-interest debt, fund a home renovation, or make progress toward another financial goal, there's a top lender for you. Happy cash-out refinancing!
- With a smooth and financially advantageous cash-out refinance experience in mind, consider top-rated lenders like Chase, Bank of America, Better, Navy Federal Credit Union, PenFed Credit Union, PNC Bank, and SoFi for conventional, jumbo, FHA, VA, and refinancing options. Additionally, these lenders can support your lifestyle by offering personal-finance resources to help you manage your money wisely.
- Analyze your credit score requirements and explore the various loan options offered by these lenders to find the best fit for your unique financial situation. For instance, if you're a military member or family member, consider Navy Federal Credit Union or PenFed Credit Union.
- To enhance your fashion-and-beauty preferences and home-and-garden decor, use the extra cash acquired through a cash-out refinance to fund those essential purchases. You can also invest the funds to secure a more prosperous future. By making smart choices with your newly accessible resources, you'll be empowered to elevate your lifestyle and achieve your financial goals.
