How we rank refinance lenders

Last updated: March 2026

Our approach

Wirly ranks refinance lenders using a combination of publicly available data and editorial evaluation. Our goal is to help borrowers identify lenders that offer competitive terms, transparent pricing, and a reliable experience.

Data sources

Home Mortgage Disclosure Act (HMDA): We use HMDA aggregate data for lending volume, approval rates, and average loan characteristics by lender. This data is collected by the Consumer Financial Protection Bureau (CFPB) and published annually.
Published rate information: We review publicly available rate sheets, advertised rate ranges, and credit score requirements from each lender’s website.
Regulatory filings: Where available, we reference NMLS records and state licensing data to verify lender status and history.

Evaluation criteria

Lenders are evaluated across the following dimensions:

Rate competitiveness: How do the lender’s published rates compare to market averages from FRED and Freddie Mac PMMS?
Fee transparency: Does the lender clearly disclose origination fees, closing costs, and other charges before application?
Loan product variety: Does the lender offer conventional, FHA, VA, jumbo, and other loan types?
Credit score requirements: What is the minimum credit score, and how does it compare to competitors?
Customer experience: Based on published customer reviews, regulatory complaint data (CFPB database), and the quality of digital tools
Digital experience: Quality of the online application process, mobile accessibility, and self-service tools

What we do NOT consider

Advertising spend: How much a lender spends on marketing has no effect on their ranking
Affiliate commission rates: The referral fee Wirly may earn from a lender does not influence their position in our rankings
Direct requests: Lenders cannot request or pay for a specific ranking position

Update frequency

Lender rankings are reviewed quarterly. When significant changes occur (a lender exits the market, changes fee structure, or receives a regulatory action), we update rankings outside the regular schedule.

Rate data used in comparisons is updated daily from FRED. Lender profile information (credit requirements, loan types, features) is verified against lender websites during each quarterly review.