: Use tools like the Rocket Mortgage refinance guide or Chase Bank education portal to compare specific requirements.

Refinancing with bad credit is possible through specific government-backed programs and alternative lending strategies. While a conventional refinance typically requires a minimum score of 620, several options cater to lower scores. FHA Streamline Refinance : Designed for borrowers who already have an FHA loan.

Offered by private or "B-lenders" who use alternative criteria, such as bank statements or assets, rather than just a credit score. Credit Score Benchmarks : Conventional: 620 minimum. FHA/VA: 580 typically required for standard refinances. Jumbo: 660–680 minimum.

: Lenders may be more lenient if you have significant equity in your home (at least 20%).

Available to veterans and active-duty service members with existing VA loans.

Often has no minimum credit score requirement, focusing instead on a history of on-time payments. :

: Refinancing generally costs between 2% and 6% of the total loan amount.

Allows credit scores as low as 580 to refinance into a more affordable term or interest rate. :