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Best Mortgage Refinance Companies in Sacramento

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Absolute Mortgage Company logo
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License Verified:

License: 1307249

Nationwide Multistate Licensing System and Registry

Absolute Mortgage Company

P O Box 4713, Davis, CA 95617
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  • NMLS #: 39166

Business Description

Absolute Mortgage Company provides refinancing solutions to clients in the Sacramento area. It provides its services to individuals looking to acquire a new home mortgage or those looking to lower their mortgage rate through refinancing. The company keeps clients informed and guides them through the entire mortgage transaction. Absolute Mortgage Company assists clients in mortgage processing, underwriting, and loan closing and funding. It has more than 18 years of experience in the real estate and mortgage industry.

License Verified:

License: 1307249

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
Ashley Willard Mortgage Loan Officer logo
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Ashley Willard Mortgage Loan Officer

4401 Hazel Avenue Ste 135, Fair Oaks, CA 95628
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  • Reverse Mortgages

Business Description

Ashley Willard Mortgage Loan Officer comprises a team serving clients in the Sacramento area. It offers assistance with cash-out refinances for college tuition, home improvements, and debt consolidation. It also provides rate and term refinance services to lower interest rates and monthly mortgage payments and reduce the number of years of the loan. The agency has FHA, conventional, and VA home loans available. It is headed by Ashley Willard, who has over 13 years of experience in the mortgage industry.

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.
4.7
Yelp
5.0 / 5 (7)

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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
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Broker Direct Lending logo
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License: 372256

Nationwide Multistate Licensing System and Registry

Broker Direct Lending

629 Lincoln Way Suite 300, Sacramento, CA 95603
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  • New Construction
  • Reverse Mortgages

Business Description

Broker Direct Lending has been serving clients across Sacramento since 2017. The company deals with homeowners refinancing their mortgages and helps them obtain lower interest rates in the process. It provides online tools like refinance calculators to educate clients on the impact of their decisions on their finances. The company also offers specialized loan options for aspiring homeowners, including interest-only mortgages and balloon loans. Its owner, Marcus Johnson, previously held a management role under the firm Guaranteed Rate.

License Verified:

License: 372256

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 (72)
Facebook
5.0 / 5 (11)

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
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CalStateLender, Inc. logo
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CalStateLender, Inc.

530 La Sierra Dr, Sacramento, CA 95864
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  • New Construction
  • Reverse Mortgages

Business Description

CalStateLender, Inc., is a mortgage brokerage firm serving clients in Sacramento. It offers refinancing services that help clients reduce interest rates and monthly payments, change mortgage terms, and take out cash from equity. It has various loan types, including conforming, jumbo, FHA, VA, and USDA, with fixed and adjustable rates as well as five-year to 30-year terms. The company also assists with home purchases of first-time homebuyers and repeat buyers. CalStateLender is headed by Sean Safholm, who has over 16 years of industry experience.

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 (38)
Yelp
5.0 / 5 (5)

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
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Elevate Mortgage Company logo
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Elevate Mortgage Company

717 K Street, Suite 510, Sacramento, CA 95814
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  • Multi-Family Loans

Business Description

Elevate Mortgage Company caters to Sacramento residents who need home financing options. These choices include fixed and adjustable-rate products across jumbo, conventional, or FHA loans. The terms vary from five to 30 years. Agent Adrian Petersen has been in the mortgage industry for over two decades, and has accommodations in place for teachers, police officers, first responders, and veteran military personnel. He also delivers refinancing options to secure more favorable terms and conditions for existing debts.

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
4.5 / 5 (57)

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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
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Evans Mortgage Co. logo
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License Verified:

License: 231175

Nationwide Multistate Licensing System and Registry

Evans Mortgage Co.

1350 Sutterville Road, Sacramento, CA 95822
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  • NMLS #: 39166

Business Description

Located in Sacramento, Evans Mortgage Co. is a mortgage lender that has been in operation for more than 28 years. It offers home mortgage refinancing options for those looking to obtain financial benefits such as decreased interest rates, reduced loan terms, and the replacement of adjustable-rate loans with fixed-rate loans. It handles FHA loans, VA loans, and home equity loans. Marcia Evans, one of the founders of Evans Mortgage, has been working in the mortgage industry since the mid-80s.

License Verified:

License: 231175

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
Yelp
5.0 / 5 (13)

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
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GFL Capital Mortgage logo
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GFL Capital Mortgage

1100 Corporate Way Suite 210, Sacramento, CA 95831
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  • Reverse Mortgages

Business Description

GFL Capital Mortgage is a firm that serves clients in Sacramento and the surrounding areas. It provides mortgage refinance and loan options, including FHA, fixed-rate mortgage, VA, and cash-out refinance. It assesses current market conditions and develops loan options to more efficiently meet the requirements of individuals and families. GFL Capital Mortgage aims to help existing and potential homeowners with home financing needs, and its mortgage advisors assist clients throughout the application process. The company has been in the mortgage industry since 2007.

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 (286)
Yelp
5.0 / 5 (50)
Facebook
5.0 / 5 (47)

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.
4.0
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––
Golden Bay Mortgage Group logo
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Golden Bay Mortgage Group

2260 Del Paso Road, Suite 200, Sacramento, CA 95834
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  • Reverse Mortgages

Business Description

Golden Bay Mortgage Group serves clients in the Sacramento area. It offers refinancing solutions that help reduce interest rates and monthly payments and change mortgage terms. It also assists with cash-out refinancing. The agency has various loan types available, including jumbo, FHA, VA, USDA, HARP, and conforming options. It provides fixed-rate and adjustable-rate mortgages with terms from five to 30 years. Additionally, it caters to first-time home buyers and repeat buyers. CEO and president Rene Jacques has been serving the real estate industry since 2003.

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 (47)
Facebook
5.0 / 5 (44)
Yelp
5.0 / 5 (44)

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
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Green Haven Capital Inc. logo
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License Verified:

License: 173062

Nationwide Multistate Licensing System and Registry

Green Haven Capital Inc.

5890 South Land Park Drive, Sacramento, CA 95822
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  • NMLS #: 39166

Business Description

Green Haven Capital Inc. is a mortgage refinancing company serving Sacramento for more than 13 years. It is also licensed in three more states apart from California such as Colorado, Utah, and Maryland. It comprises a staff of real estate and loan professionals with over 40 years of combined industry experience. Green Haven Capital helps clients looking to buy their first home or refinance their existing loans. The company offers personalized services such as VA, FHA, USDA, Jumbo, Non-QM, and Down Payment Assistance loans.

License Verified:

License: 173062

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

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
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Hawkins Home Loans Inc. logo
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License Verified:

License: 1909488

Nationwide Multistate Licensing System and Registry

Hawkins Home Loans Inc.

1401 Halyard Drive, West Sacramento, CA 95691
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  • NMLS #: 39166

Business Description

Hawkins Home Loans, Inc. is a mortgage refinance company that serves residents in Sacramento. The business helps clients in finding the right loan option for their unique needs. Its team of professional specialists tailors its approach based on the demands of the client because it believes that there is no standard style for a mortgage loan. The team is well-versed in handling a wide range of loans including FHA, VA adjustable rate, and fixed rate.

License Verified:

License: 1909488

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

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.
4.0
Responsiveness
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––
Jason Mata logo
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License: 273080

Nationwide Multistate Licensing System and Registry

Jason Mata

980 9th St Ste 1780, Sacramento, CA 95814
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  • NMLS #: 39166

Business Description

Jason Mata is a mortgage specialist affiliated with American Pacific Mortgage. Jason and his team of loan officers help clients in Sacramento through the mortgage process, educating them on available options and loan requirements. They can walk clients through refinancing VA loans, adjustable-rate mortgages, and FHA loans. Their refinancing process includes consulting with clients on their financial goals and helping them decide the best option. Jason Mata has been featured in Sactown Magazine and has also made a guest appearance on Money 105.5 Radio.

License Verified:

License: 273080

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

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
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John Foderaro logo
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John Foderaro

2580 Fair Oaks Blvd., Suite 20, Sacramento, CA 95825
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  • Multi-Family Loans

Business Description

John Foderaro is a senior loan officer of Guild Mortgage that serves clients in Sacramento. He offers mortgage refinancing and hundreds of loan products for a variety of borrowers, such as first-time homebuyers, rural residents, and military families. He also provides FHA, USDA, VA, renovation, and conventional loans and tailors a borrowing strategy based on the customer's lifestyle. Guild Mortgage received the Best for Product Selection award from the U.S. News & World Report in its Best Mortgage Lenders rankings of 2021.

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)
Facebook
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
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Kappel Mortgage Group Incorporated logo
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Kappel Mortgage Group Incorporated

3673 J Street, Sacramento, CA 95816
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  • New Construction

Business Description

Kappel Mortgage Group Incorporated is a residential lending company that provides tailored financial solutions to Sacramento clients. It helps homeowners decrease their monthly payments and pay off their debts faster through refinancing. The procedure entails speaking with mortgage refinance advisors and gathering the necessary documents. Additionally, the agency offers conventional, jumbo, B/C, and VA loans. Sharon McKernan, a broker associate and mortgage specialist, has been in the lending industry for three decades. She holds a bachelor's degree in Finance and Economics.

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.
4.7
Facebook
4.7 / 5 (22)
Google
5.0 / 5 (20)
Yelp
4.5 / 5 (19)

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
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Matt Gouge logo
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Matt Gouge

707 Commons Drive Suite 103, Sacramento, CA 95825
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  • Reverse Mortgages

Business Description

Matt Gouge is a loan originator affiliated with UMortgage. He caters to clients in the Sacramento metro and the surrounding communities. Gouge offers mortgage refinancing options, which allow homeowners to change up their term or cash out their home equity. He assists clients throughout the process, including the refinance analysis, interest rate and term comparison, and loan selection. Gouge provides various programs, including adjustable- and fixed-rate, CalPATH and CalPERS, jumbo, FHA, and VA loans.

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 (67)
Yelp
5.0 / 5 (29)

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
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Michael Buccella logo
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Michael Buccella

2716 Broadway, Sacramento, CA 95818
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  • New Construction

Business Description

Michael Buccella is a mortgage professional who manages a lending business in Sacramento. He accommodates clients seeking a new home loan and those who wish to refinance their existing loans. Among the mortgage programs available are conventional, FHA, FHA streamline refinance, VA, VA-IIRL, and down payment assistance loans. During consultations, Michael works with the borrowers to determine their loan eligibility. He offers them tailored loan packages with the support of the West Coast Mortgage Group.

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 (66)
Yelp
5.0 / 5 (5)
Mortgage Masters of California logo
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License Verified:

License: 1928590

Nationwide Multistate Licensing System and Registry

Mortgage Masters of California

338 Cernon Street, Vacaville, CA 95688
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  • NMLS #: 39166

Business Description

Mortgage Masters of California is a local lending company servicing the Sacramento community. It assists clients in purchasing a home and or refinancing a mortgage depending on their needs and preferences. A wide range of loan products is available for different types of home financing solutions. The company's website features the Walton Funding Payment Calculator, which allows clients to acquire a precise rate based on principal, interest, property taxes, and homeowners' insurance. Branch manager Eric Wiegand manages a team with specialization in residential and multi-unit properties.

License Verified:

License: 1928590

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 (13)
Facebook
5.0 / 5 (2)
New Way Mortgage logo
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New Way Mortgage

1111 Howe Avenue Suite 510, Sacramento, CA 95825
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  • New Construction

Business Description

New Way Mortgage is a company operating in Sacramento. It helps clients who are looking to buy or refinance a property in pre-qualifying for different types of loan programs, such as VA, FHA, USDA, jumbo, fixed-rate, and rehab. Its website tools guide clients in making well-informed decisions based on their home valuation, credit information, or comparative market analysis. The company's CEO, Aaron Clowes, serves as a veteran air traffic controller of the team as he maintains coordination with clients to determine their mortgage needs.

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 (51)

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
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Sacramento City Mortgage logo
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Sacramento City Mortgage

725 30th Street Ste 207, Sacramento, CA 95816
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  • New Construction

Business Description

Sacramento City Mortgage is a locally owned and operated brokerage serving clients in the metro and the surrounding areas. It offers a variety of mortgage refinancing options for homeowners, homebuyers, and investors that include fixed-rate mortgages, cash-out, jumbo, FHA, and VA loans. The brokerage also provides pre-qualification mortgage letters to narrow clients' search for homes that suit their needs and financial conditions. Owner Michael Boito is a third-generation mortgage broker. He launched his company in 2013 to make lending a comfortable and informed experience for customers.

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
Yelp
4.5 / 5 (8)
Google
5.0 / 5 (5)
Facebook
5.0 / 5 (4)
The Chris Kennedy Team logo
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The Chris Kennedy Team

2100 Northrop Avenue Suite 900, Sacramento, CA 95825
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  • Reverse Mortgages

Business Description

The Chris Kennedy Team is a group of mortgage professionals serving the Sacramento community. Its team assists different kinds of clients, such as first-time homebuyers and veteran real estate investors, with loan approvals, qualifications, and on-time closings. A wide range of loan programs is available including conventional, refinance, FHA, and VA. Senior loan officer Chris Kennedy, a mortgage industry producer since 2000, applies the discipline and hard work he gained while serving in the military.

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 (53)
Facebook
4.8 / 5 (19)
Yelp
5.0 / 5 (6)

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
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United Wholesale Lending logo
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United Wholesale Lending

917 7th St, Sacramento, CA 95814
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  • New Construction

Business Description

United Wholesale Lending is a mortgage brokerage firm serving Sacramento and nearby areas. It offers refinancing solutions to reduce loan payments, consolidate debts, change terms, and pull out cash. The firm has a wide variety of loans available, including FHA, USDA, CalHFA, VA, and adjustable-rate. It also handles reverse mortgages for seniors looking to purchase single-family homes and FHA-approved condominiums. United Wholesale Lending's owner Shelby Elias holds a program to educate people on the home buying process.

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
4.8 / 5 (240)
Yelp
4.0 / 5 (52)
Facebook
4.7 / 5 (38)

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
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West Coast Mortgage Group Sacramento logo
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West Coast Mortgage Group Sacramento

2716 Broadway, Sacramento, CA 95818
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  • New Construction

Business Description

West Coast Mortgage Group Sacramento delivers various loan programs to clients in the metro and its surrounding areas. These options include conventional, jumbo, and FHA arrangements, as well as reverse mortgages. The firm has calculators on its website that enable users to compute for their dues before meeting an adviser. West Coast Mortgage has been serving the metro for over 15 years. Its clientele extends to military service members who qualify for loans with the Department of Veterans Affairs.

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 (253)
Yelp
5.0 / 5 (76)
Facebook
4.7 / 5 (56)

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
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Back to Providers

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 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.

How does mortgage refinance work?

The mortgage refinance process begins with choosing a broker and filling out loan application information. The process continues through underwriting and closing. The new mortgage is then used to pay off and close your original mortgage loan. This leaves you with a new loan and mortgage payment to manage each month.

When should you refinance a mortgage?

If your credit score has improved or mortgage interest rates have dropped, refinancing can potentially save you money. Other reasons to refinance your mortgage include getting a fixed rate instead of an adjustable one or getting a shorter loan term. An increase in your home’s value that can let you access more equity is another reason to refinance.

How much does it cost to refinance a mortgage?

The average cost to refinance a mortgage is $5,000. This amount varies, based on the state and county where the property is located and the loan amount. Common fees incurred when refinancing a mortgage include:

  • Appraisal fee
  • Broker’s fee
  • Credit check fee
  • Loan application fee
  • Recording fee
  • Title search and insurance fee

How soon can you refinance a mortgage?

Some lenders make borrowers wait a minimum of six months before accepting a new mortgage refinancing application. However, when that happens, borrowers can check with other lenders to find one that doesn’t require a wait before refinancing. A mortgage refinance broker can guide you to lenders that allow immediate refinancing.

How long does it take to refinance a mortgage?

The average amount of time it takes to refinance a mortgage is 45 days. In some cases, it may be possible to get it done faster. There also may be times when it takes longer to get a mortgage refinanced.

What is the average closing cost to refinance a mortgage?

The average closing cost when refinancing a mortgage is $4,345. Closing costs may be much higher or lower depending on the amount of money borrowed. If you see an ad that says there are no closing costs, the costs are factored in elsewhere in the terms of the loan.

How often can you refinance a mortgage?

You can refinance a mortgage as often as you like, however, if you refinance frequently, it can cost more in fees than you save on interest. Some reasons for refinancing repeatedly include a sharp drop in interest rates or going through a life event, such as a divorce.

When is it worth it to refinance a mortgage?

It’s worth it to refinance when interest rates drop and refinancing will save you money. It also may be worth refinancing if you need to access some of your home’s equity to cover other expenses. Refinancing may be worthwhile if you're switching from a variable to a fixed rate mortgage.

Can you refinance a mortgage with no closing costs?

You can refinance a mortgage without paying closing costs at the time. However, those costs are still owed and are factored in elsewhere in the financing. Lenders either add the costs to the principal owed or increase the interest rate on your refinanced mortgage loan.

Can you refinance a home equity loan into a mortgage?

You can refinance a home equity loan into a mortgage in some situations. You have to have excellent credit to do this. Additionally, you must have enough equity in your home to qualify for a new mortgage that pays off the existing mortgage and your home equity loan.

Can you refinance a mortgage without a job?

In some situations, you can refinance your mortgage if you don't have a job. It depends on the lender, because some will allow it and others won’t. A qualified mortgage refinance broker can help connect you with lenders that consider your situation. You have to submit documentation about your unemployment and the income you have.

Can you refinance a mortgage with bad credit?

It’s possible to refinance a mortgage if you have bad credit. If your payment record with your current lender is good, you can discuss refinancing with that lender. You may also be able to refinance a mortgage by going through a government-backed lender, such as the USDA or FHA.

Can you refinance a second mortgage?

It’s possible to refinance a second mortgage. If your credit score improves or interest rates drop, refinancing a second mortgage may save you money. Either of these situations can provide a way for you to get a lower interest rate. Refinancing a second mortgage can also sometimes shorten your loan repayment period.

Can you refinance a first mortgage and not a second?

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.

How often should you refinance your mortgage?

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.

What should you expect when refinancing a mortgage?

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.

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