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Best Mortgage Refinance Companies in Jackson, MS

Our Recommended Top 3

We did the research for you!

  • Licensing
  • User Reviews
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Our goal is to connect people with the best local professionals. We scored Jackson 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.

93Reviewed

57Curated

3Top Picks

Learn about our selection process.

Providers

featured provider = Featured Provider

439B Katherine Dr, Flowood, MS 39232
WebsiteLicense: 303219

Expertise.com Rating

Review Sources

Facebook
4.4 (38)

Why choose this provider?

Renaissance Community Loan Fund addresses applications and inquiries from prospective refinancers and homebuyers within Jackson. Its staff offers personalized financing options that include the reduction of monthly payments and the adjustment of existing mortgages to a fixed rate for improved long-term security. It regularly assesses criteria related to each applicant's credit score and financial situation and offers comparisons with current interest rates in the market. Outside of its work, it also contributes to the development of economic and employment opportunities throughout the local community.

  • New Construction

742 Magnolia Street, Madison, MS 39110
WebsiteLicense: 102016

Expertise.com Rating

Review Sources

Facebook
5.0 (15)
Google
5.0 (3)

Why choose this provider?

MS Lending is a boutique mortgage brokerage firm that serves clients in Jackson and the surrounding areas. It offers mortgage refinancing services that help clients improve their financial outlook through lower monthly payments, reduced interest rates, and modified loan terms. Clients can choose from various loan options, including FHA, VA, jumbo, USDA, and HARP. It provides fixed-rate and adjustable-rate mortgages. MS Lending is headed by Michelle Dugan, who is a 2019 and 2020 Women With Vision award recipient.

  • New Construction

156 Grants Ferry Rd, Brandon, MS 39047
WebsiteLicense: 408229

Expertise.com Rating

Why choose this provider?

The Mortgage Connection helps homeowners and investors in Jackson reduce their interest rates and alter their mortgage terms through refinancing. To meet the individual requirements of homebuyers, it offers a variety of mortgage products, including conventional, non-conforming, rural development, VA, and FHA loans. The brokerage serves borrowers who are purchasing their first homes, consolidating debts, and building new residences and vacation homes. It has a mortgage calculator to help clients project their potential expenses. The Mortgage Connection is a division of The First Bank.

  • New Construction

Compare our Top Mortgage Refinance Companies

NameExpertise RatingAddressPromotionsLearn more
Renaissance Community Loan Fund
439B Katherine Dr, Flowood, MS 39232
MS Lending
742 Magnolia Street, Madison, MS 39110
The Mortgage Connection
156 Grants Ferry Rd, Brandon, MS 39047

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 your credit score affect your chances of refinancing your mortgage in Jackson?

    Creditors in Jackson check your credit standing to see if you are a good payer. They assess your score by evaluating credit history, payment records, account types, late payments, outstanding debts, and account age from credit applications and reports. Using statistical analysis, they compare this data to similar consumer profiles, assigning points to predictive factors. These points cumulate into a credit score, indicating the likelihood of loan repayment. This system aids in making informed lending decisions.

  • In Jackson, can second mortgages be managed during refinancing?

    Yes. When a request for refinancing is made in Jackson, second mortgages can be consolidated into a single new first mortgage to simplify monthly payments. Alternatively, the second mortgage can be retained, refinancing the first loan. This "subordination" process may require a fee from the second mortgage lender to maintain their position.

  • What are the average closing costs after refinancing your mortgage in Jackson?

    On average, closing costs in Jackson amount to $2,578.12 after taxes, equivalent to around 0.86% to 1.29% of the final home sale price. The closing costs vary based on the lender, loan size, payment method, and regional regulations. Different states have specific rules for real estate closings, influencing costs like attorney fees and transfer taxes.

  • What does the Annual Percentage Rate represent in the context of mortgages in Jackson?

    In Jackson, the Annual Percentage Rate in mortgages is an interest rate indicating the yearly cost of a loan. It factors in points, credit costs, and the stated note rate. Homebuyers can compare loans' annual prices through APR, fostering fair lender competition by preventing hidden fees behind low advertised rates. Significantly, while APR doesn't affect monthly payments, these are determined solely by the loan's interest rate and duration.

  • What documents are required for a refinance application in Jackson?

    To apply for mortgage refinancing in Jackson, you need to provide standard documents, such as recent pay stubs covering 30 days, W-2s from the past two years for income verification, and asset statements spanning 60 days detailing bank or stock/mutual fund holdings. Current loan information like the latest mortgage statement and homeowners insurance declarations page is also necessary. These documents facilitate the refinance process.

  • 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.