Best Mortgage Refinance Companies in Peoria

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EZ Mortgage logo

EZ Mortgage

100 N. Main St., Ste. L102, East Peoria, IL 61611
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  • New Construction

EZ Mortgage, LLC, helps clients in Peoria save on interest rates and payments by offering mortgage refinancing solutions. Its brokers guide homebuyers in understanding the refinance process by analyzing their situation and providing them with options and payment terms suited to their specific needs. In addition, they offer various types of loans, including HARP, FHA, VA, USDA, and 203(k). EZ Mortgage is affiliated with the Association of Independent Mortgage Experts and the Brokers Are Better Network.

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Home Mortgage Specialists, Inc. logo

Home Mortgage Specialists, Inc.

4719 N Sheridan Rd., Peoria, IL 61614
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  • New Construction

Home Mortgage Specialists, Inc., works with buyers, sellers, and investors in and around Peoria. It helps clients refinance their residential properties through its mortgage solutions. The company offers different types of programs, including USDA, FHA, VA, jumbo, construction, and conventional loans. These loan options can be used for recasting a bad mortgage, home improvement, debt consolidation, and student loan payments. Home Mortgage Specialists partners with more than 10 wholesale lenders to enable customers to achieve their dream properties.

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LeaderOne Home Loans logo

LeaderOne Home Loans

410 Jubilee Suite D, Metamora, IL 61548
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  • New Construction
  • Reverse Mortgages

LeaderOne Home Loans offers a selection of loaning choices for Peoria-based mortgage applicants. Jarrod Doty, one of the firm's loan officers, provides applicants with comprehensive refinancing options that cover debt payments, reduce monthly installments, and offer improved interest rates. His proactive approach involves the adjustment of recommendations based on client feedback and assessments of the local mortgage market. He and his fellow consultants have assisted more than 23,000 families, amassing a loan history of over $12 billion.

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Team USA Mortgage logo

Team USA Mortgage

1709 Tullamore Ave, Suite D, Bloomington, IL 61704
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Team USA Mortgage serves individuals and families in the Peoria metro. The company is committed to helping clients who want to pay off their outstanding loans faster or lower their monthly payments through refinancing. Its team of mortgage professionals works with clients to ensure they receive solutions specifically tailored to their financial needs. They also offer purchase loans and debt consolidation services. Team USA Mortgage is owned and operated by Bryan Root, who has been in the mortgage business for over 16 years.

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Frequently Asked Questions

Q: What should you expect when refinancing a mortgage?

A: 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.

Q: How often should you refinance your mortgage?

A: 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.

Q: Can you refinance a first mortgage and not a second?

A: 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.

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