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Best Mortgage Refinance Companies in Berkeley

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Advantage Funding logo

Advantage Funding

711 Grand Ave, Ste 260, San Rafael, CA 94901
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  • Reverse Mortgages

Advantage Funding assists people in Berkeley in obtaining and paying their mortgage loans. It offers refinancing to help homeowners, homebuyers, and real estate investors reduce their interest rates and change the terms of their loans. Its mortgage consultant, Al Sanli, handles various types of loans, such as jumbo, conventional, and reverse, as well as VA and FHA, for primary residences, vacation homes, and investment properties. The majority of his business comes from referrals from previous clients who benefited from a streamlined mortgage process.

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Griselda Ledesma & The Ledesma Team Mortgage & Real Estate logo

Griselda Ledesma & The Ledesma Team Mortgage & Real Estate

12553 San Pablo Avenue, Richmond, CA 94805
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  • New Construction
  • Reverse Mortgages

Griselda Ledesma & The Ledesma Team Mortgage & Real Estate caters to clients in Berkeley and the surrounding areas. Its specialists have over 100 years of collective experience in real estate and home financing services. They help borrowers who want to refinance their existing loans to gain payment flexibility or maximize home equity. They also provide the necessary support for first-time home buyers and sellers, move-up buyers, and property investors. The agency has financed more than 5,980 units.

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Mortgage Dynamics logo

Mortgage Dynamics

1634 63rd Street, Berkeley, CA 94703
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  • New Construction
  • Reverse Mortgages

Mortgage Dynamics caters to new homebuyers and borrowers with challenging loan situations in Berkeley. It offers refinancing solutions that provide interest rate and payment reduction, term adjustments, equity cash outs, and home improvement assistance. Its team listens to clients' home ownership goals and financial objectives and finds mortgage programs that fit into their vision. Its assessment methods include analyzing credit, debt-to-income ratios, business and rental income, and borrowers' capacity to pay. The company also recommends fixed-rate, adjustable-rate, interest-only, graduated payment, jumbo, and government-insured loans.

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Oak Leaf Funding logo

Oak Leaf Funding

1580 Solano Ave. Suite D, Albany, CA 94707
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  • New Construction

Oak Leaf Funding is a mortgage brokerage firm serving Berkeley. Its available loan programs include FHA, VA, USDA, jumbo, and 30-year or 50-year fixed mortgages. They also assist in reducing a client’s interest rate and monthly payments or cashing out from their home’s equity. Oak Leaf Funding was founded by Wahid Afzal in 2005. He collaborates with partner Charles Gianfrate, and the two have over two decades of lending experience in the Bay Area and throughout California.

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The Crosby Team logo

The Crosby Team

1400 Shattuck Ave. Suite 1, Berkeley, CA 94709
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  • New Construction

The Crosby Team addresses the mortgage needs of homebuyers and investors in Berkeley. It helps individuals and families obtain their dream investment properties through its refinancing services. The agents offer different types of mortgage programs, including fixed-rate and adjustable-rate loans tailored to clients' property goals. They assess debtors' savings and assets, monthly income, and debt-to-income ratio. The company's regional manager and senior vice-president, Dianne Crosby, is an affiliate board member of the Bridge Association of Realtors.

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The Finance Group logo

The Finance Group

1101 Marina Village Pkwy, Alameda, CA 94501
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  • Reverse Mortgages

The Finance Group is a mortgage company that serves Berkeley-based residents. Its team assists through the home loan process and helps select the right mortgage that suits specific needs. It offers to refinance existing mortgage loans of homeowners who want to lower their interest rates. Its refinance process allows switching from an ARM to an FRM, lowering the loan term, and availing additional benefits. The company's other loan programs include home equity, conventional fixed-rate, jumbo, and VA mortgage loans.

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Zain Elias logo

Zain Elias

Oakland, CA 94601
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  • Reverse Mortgages

Zain Elias is a Tam Funding mortgage officer serving clients in and around Berkeley. Zain guides clients through the process of home purchasing, refinancing, and debt consolidation. He has different loan programs available for catering to his clients, such as 30-year fixed, adjustable, and reverse. He also offers FHA, VA, Jumbo, and 203k loans. Zain conducts property assessments to help clients gauge potential loan terms. One client commended his open communication and ability to explain refinancing in simple terms.

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Frequently Asked Questions

Q: What should you expect when refinancing a mortgage?

A: When refinancing a mortgage, expect to answer a lot of questions and provide documentation to back up your answers. You'll may also pay fees and closing costs of around $5,000. Additionally, expect to start over in terms of building home equity, because refinancing takes the amortization process back to the beginning.

Q: How often should you refinance your mortgage?

A: There is no recommended frequency for refinancing a mortgage. How often you should refinance is determined by when it will save you money. If you can get better terms on your mortgage by refinancing, then it’s a good time to take action.

Q: Can you refinance a first mortgage and not a second?

A: You can refinance your first mortgage and not the second one, but it can be difficult. You have to get the lender of your second mortgage to agree to the refinancing. The process is called resubordination, and some home equity lenders won’t agree. Additionally, lenders typically charge extra fees to resubordinate a loan.

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