Expertise.com

2024

Last updated:

Best Mortgage Refinance Companies in Decatur

Our Recommended Top 3

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 Decatur 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.

41Reviewed

25Curated

3Top Picks

Learn about our selection process.

Providers

featured provider = Featured Provider

320 Northwestern Avenue, Taylorville, IL 62568
WebsiteLicense: 1034159

Expertise.com Rating

Review Sources

Google
5.0 (19)
Facebook
5.0 (10)

Why choose this provider?

Becky Adcock is a residential mortgage loan originator with Tiger Loans. She helps homeowners in and around Decatur who want to refinance a loan to modify the rate, term length, or monthly payment. She provides personalized mortgage solutions to clients to help them obtain the best rate possible according to their individual scenarios. Adcock also guides first-time home buyers and investors and recommends various mortgage products, such as fixed or adjustable-rate, conforming, and jumbo or super jumbo loans.

  • New Construction

205 N Williamsburg Dr Suite A, Bloomington, IL 61704
WebsiteLicense: 577099

Expertise.com Rating

Why choose this provider?

Brett Winters assists borrowers from Decatur who are ready to buy a first, second, or investment property. He assesses clients' financial situations and goals and advises them on whether they can save money by refinancing. The agent offers various types of loans for home improvements, consolidating debt, or paying medical bills. Services also include conventional, FHA, VA, USDA, jumbo loans, and home equity lines of credit. Brett Winters is a loan officer and senior mortgage consultant for Wintrust Mortgage.

  • New Construction

2009 Fox Dr #A, Champaign, IL 61820
WebsiteLicense: 528125

Expertise.com Rating

Review Sources

Google
5.0 (49)
Facebook
5.0 (9)

Why choose this provider?

Thomas Roth is a mortgage professional who has been serving customers in Decatur for over two decades. He works as a loan originator under Prime Lending, addressing the needs of those refinancing an existing mortgage or renovating a home. Roth navigates borrowers throughout the loan process, delivering personalized options based on their objectives. These options include refinance, purchase, renovation, and VA loans. His refinancing options help borrowers shorten their loan term or change from an adjustable to a fixed rate.

  • New Construction
  • Reverse Mortgages

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.
  • Why should senior citizens in Decatur get a reverse mortgage loan?

    Seniors in Decatur should apply for a reverse mortgage loan to receive tax-free payments that can be used for a variety of purposes, such as paying off medical bills or funding home improvement projects. Individuals can use their home equity to increase their net worth without having to meet any income requirements. They may still face foreclosure if they are unable to pay other property-related fees, such as homeowner's insurance and real estate taxes.

  • Do pre-approval letters in Decatur expire?

    Yes, pre-approval letters in Decatur can expire because they only reflect a person's financial situation at the time of their mortgage application. Lenders typically set a validity period of 60-90 days to ensure that pre-approval letters are up to date with an individual's credit score, assets, and monthly income. Borrowers must go through the pre-approval process again after they expire.

  • Are there assistance programs for Decatur residents struggling to make monthly mortgage payments?

    Decatur residents who are struggling to make their monthly mortgage payments can apply to the Illinois Homeowner Assistance Fund. Individuals can receive up to $60,000 in mortgage assistance through this statewide program, which can be paid to tax agencies or lending institutions. Those interested in determining their eligibility should use the following link: https://ihda-ilhaf.unqork.io/#/display/61e0a6eb48d4b00183bed2c8

  • How can Decatur-based individuals avoid predatory lending acts?

    Individuals in Decatur can avoid predatory lending by being aware of the various deceptive tactics used by mortgage lenders or brokers to exploit borrowers. Predatory lenders frequently entice locals to take out a high-risk loan with unfavorable terms that borrowers cannot afford in the end. They also employ tactics such as loan flipping, equity stripping, and reverse redlining throughout the lending process.

  • Where can Decatur-based individuals report predatory lending violations?

    Residents of Decatur who have been victims of predatory lending should contact the Illinois Department of Financial and Professional Regulation right away. This regulatory agency seeks to protect individuals from mortgage lending and brokerage firms that repeatedly violate the state's High-Risk Home Loan Act. Residents can file complaints by calling 1-888-473-4858 or 1-844-768-1713.

  • 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.