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2024

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Best Mortgage Refinance Companies in Riverside, CA

Our Recommended Top 7

We did the research for you!

  • Licensing
  • User Reviews
  • Mystery Shopping Calls

Our goal is to connect people with the best local professionals. We scored Riverside Mortgage Refinance Companies on more than 25 variables across five categories, and analyzed the results to give you a hand-picked list of the best.

160Reviewed

98Curated

7Top Picks

Learn about our selection process.

Providers

featured provider = Featured Provider

11820 Pierce Street, Riverside, CA 92505
WebsiteLicense: 6606

Expertise.com Rating

Review Sources

Google
4.9 (135)
Facebook
5.0 (8)
Yelp
5.0 (4)

Why choose this provider?

New American Funding, which is located in Riverside, is a family-owned business that assists clients in several areas, including refinancing which involves replacing a current mortgage with a new one that is customized according to clients' preferred term length and interest rate type. In addition, the company helps clients with other mortgage loan options such as FHA loans, conventional loans, and reverse mortgages. Each step of the process, from processing to underwriting, is done by New American Funding's team.

  • Reverse Mortgages

19340 Jesse Lane, Riverside, CA 92508
WebsiteLicense: 3001

Expertise.com Rating

Review Sources

Facebook
4.0 (92)
Yelp
4.5 (6)
Google
5.0 (2)

Why choose this provider?

Cherry Creek Mortgage - Riverside-Jesse Lane has been providing mortgage refinancing solutions to clients in Riverside for over 30 years. The full-service mortgage company assists individuals in reducing their mortgage rates, leveraging home equity, getting new mortgage terms, and lowering monthly payments. Some of the loan products it handles are FHA, USDA, VA, conventional, jumbo, and low-downpayment loans. Cherry Creek Mortgage also offers refinancing resources, such as a live rate calculator, to help clients determine their new financing solution.

  • Reverse Mortgages

16310 Porter Avenue, Riverside, CA 92504
WebsiteLicense: 238036

Expertise.com Rating

Review Sources

Google
5.0 (13)
Yelp
5.0 (4)

Why choose this provider?

JB Mortgage Capital, Inc. provides mortgage refinancing options to homeowners in Riverside and the surrounding areas. Kevin O'Connor, the company's loan officer with over 16 years of experience in the industry, helps homeowners seeking to lower their mortgage interest rates. He offers refinancing services that give clients an option to cash out of the home's equity for improvement projects. Additionally, Kevin helps clients consolidate high interest rates, reduce their number of payments, and convert ARMs to fixed-rate loans.

  • Multi-Family Loans
  • New Construction

Riverside, CA
WebsiteLicense: 234945

Expertise.com Rating

Review Sources

Facebook
5.0 (6)
Yelp
5.0 (1)

Why choose this provider?

Mortgage Express is a mortgage refinancing company serving Riverside. Owner and broker Carole Ryan has been in the industry for 24 years and provides personalized services, including 30-year fixed, FHA, high-balance, VA, jumbo, USDA, and reverse mortgages. She helps customers seeking reduced monthly payments, home equity cashouts, or shorter mortgage lengths. The company's online refinance analysis feature also helps clients identify programs tailored to their situation. Additionally, customers can use the mortgage calculator to gauge how different interest rates and loan types affect monthly payments.

  • Reverse Mortgages

2900 Adams Street, Riverside, CA 92504
WebsiteLicense: 1939219

Expertise.com Rating

Review Sources

Google
4.9 (96)
Yelp
5.0 (4)
Facebook
5.0 (3)

Why choose this provider?

Locke Your Loan is a mortgage loan and refinance company that has a main office operating in Riverside. It can advise both first-time homebuyers and existing homeowners about loan program options, credit, and refinancing plans. The company allows its customers to schedule 30-minute appointments to address mortgage concerns and issues. It also offers loan programs include conventional loans, refinance loans, and reverse mortgage loans. Furthermore, the company has an online glossary to educate clients on mortgaging terms like interest rates, debt consolidation, and cash-out.

  • Reverse Mortgages

7211 Magnolia Avenue, Riverside, CA 92504
WebsiteLicense: 1689518

Expertise.com Rating

Review Sources

Google
4.9 (129)
Yelp
4.5 (28)

Why choose this provider?

Secure Choice Lending is a mortgage lending firm serving Riverside and neighboring communities. It assists first-time homebuyers and existing homeowners through loan plan recommendations that suit a client’s needs and risk level. It also offers VA IRRRL and FHA streamline refinancing. Other loan and mortgage options include conventional, jumbo, fixed-rate, and adjustable-rate loans. It also provides a reverse mortgage option for seniors who want to convert their home equity as cash income that can be used for monthly bills and emergency funds.

  • Reverse Mortgages

5225 Canyon Crest Drive, Riverside, CA 92507
WebsiteLicense: 61602

Expertise.com Rating

Review Sources

Facebook
5.0 (2)
Google
5.0 (1)

Why choose this provider?

Serving clients near Riverside, Mortgage Solutions Financial is a family-owned mortgage company that was established in 1995. The company offers a wide range of services to help aspiring homeowners fulfill their dreams and help current homeowners keep theirs through mortgage refinancing. Mortgage Solutions Financial helps homeowners who struggle to pay their monthly due by refinancing existing mortgages through a streamlined process to lower the loan's overall cost, lower its monthly payment, or decrease the interest rate.

  • Reverse Mortgages

Compare our Top Mortgage Refinance Companies

NameExpertise RatingAddressPromotionsLearn more
New American Funding - Riverside
11820 Pierce Street, Riverside, CA 92505
Cherry Creek Mortgage - Riverside-Jesse Lane
19340 Jesse Lane, Riverside, CA 92508
JB Mortgage Capital, Inc.
16310 Porter Avenue, Riverside, CA 92504
Mortgage Express
Locke Your Loan
2900 Adams Street, Riverside, CA 92504
Secure Choice Lending
7211 Magnolia Avenue, Riverside, CA 92504
Mortgage Solutions Financial-Riverside, CA
5225 Canyon Crest Drive, Riverside, CA 92507

FAQs

  • Introduction

    Refinancing a mortgage can be a complicated process, and hiring a mortgage refinancing broker can make it simpler and faster. There are several things you can do to protect your interests and help your broker complete the process for you.

    Check a potential broker’s online reviews to find one with a good reputation. In addition to the opinions of past clients, check to see if a broker has an online portfolio, which can support the reviews you find from past clients to show a broker’s trustworthiness. This can also help you establish if a broker has handled financing for properties similar to yours.

    Get a written summary of a broker’s rates before committing so you know exactly what hiring your chosen mortgage refinance broker will cost. Find out which lenders work with your broker and what information they need to successfully refinance your mortgage.
  • How does a no-cost jumbo refinance work in Riverside?

    A no-cost jumbo refinance means that the lender in Riverside will cover one-time fees. One-time fees include credit report, title, escrow, and appraisal expenses. Recurring fees such as homeowner's insurance, property taxes, and interest must be paid by the buyer. No-cost refinance loans typically have higher interest rates than regular jumbo loan refinance.

  • Is it possible to lose the equity of your home in Riverside if you refinance?

    Yes, in some cases. This can occur in Riverside when your mortgage balance rises, as when you include closing costs in your new loan payments or choose a cash-out refinance. In the first case, your equity decreased because the additional closing costs increased your mortgage balance. In the second case, your equity will be reduced as your mortgage balance rises to compensate for the lump sum paid out.

  • Can a HECM borrower remain in the mortgaged home in Riverside?

    Yes, HECM borrowers in Riverside can stay in their mortgaged homes indefinitely. They may, however, be required to pay property taxes and homeowner's insurance on time. They can also use the HECM proceeds to purchase another primary residence if they have enough money to cover the purchase price plus closing costs.

  • Which credit score is used for refinancing in Riverside?

    Many banks and financial institutions adhere to Fannie Mae and Freddie Mac's scoring guidelines, which employ older versions of FICO scoring. If you do not yet have a FICO score report for refinancing, check the score from your credit card company. If it is high, your FICO score may be similar. If it is low, you should try to improve your credit before purchasing the report from the MyFICO website. Take note that the report will indicate which score will most likely be used in Riverside mortgages.

  • Do Riverside borrowers have to repay any CalHFA secondary loans if they refinance?

    Yes, CalHFA discontinued the resubordination program in 2019. Borrowers in Riverside who refinance their mortgage must pay the down payment and closing cost assistance provided by CalHFA. CalHFA loans that are eligible include the California Homebuyer's Down Payment Assistance Program, the CalHFA Housing Assistance Program, and the High-Cost Area Home Purchase Assistance Program. There are exceptions if the borrower is approved for any loss mitigation program. Questions about this can be directed to the Single Family Loan Administration at 800-669-1079.

  • How do you refinance a mortgage?

    Decide why you’re refinancing, such as to get a lower interest rate, pay off your loan faster, or to get a lower monthly payment. Share your credit information with your broker along with information about the equity you have in your home. Review your mortgage refinance broker’s quotes and choose the best loan terms.