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Best Mortgage Refinance Companies in Riverside

2024

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Website
11820 Pierce Street, Riverside, CA 92505
  • Reverse Mortgages

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.

License Verified:

License: 6606

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.9
Google
4.9 / 5 (135)
Facebook
5.0 / 5 (8)
Yelp
5.0 / 5 (4)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
16310 Porter Avenue, Riverside, CA 92504
  • Multi-Family Loans
  • New Construction

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.

License Verified:

License: 238036

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (13)
Yelp
5.0 / 5 (4)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
Riverside, CA
  • Reverse Mortgages

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.

License Verified:

License: 234945

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Facebook
5.0 / 5 (6)
Yelp
5.0 / 5 (1)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
19340 Jesse Lane, Riverside, CA 92508
  • Reverse Mortgages

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.

License Verified:

License: 3001

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.0
Facebook
4.0 / 5 (92)
Yelp
4.5 / 5 (6)
Google
5.0 / 5 (2)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
5225 Canyon Crest Drive, Riverside, CA 92507
  • Reverse Mortgages

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.

License Verified:

License: 61602

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Facebook
5.0 / 5 (2)
Google
5.0 / 5 (1)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
7211 Magnolia Avenue, Riverside, CA 92504
  • Reverse Mortgages

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.

License Verified:

License: 1689518

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.8
Google
4.9 / 5 (129)
Yelp
4.5 / 5 (28)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
2900 Adams Street, Riverside, CA 92504
  • Reverse Mortgages

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.

License Verified:

License: 1939219

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.9
Google
4.9 / 5 (96)
Yelp
5.0 / 5 (4)
Facebook
5.0 / 5 (3)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Frequently Asked Questions

  • 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.