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Best Mortgage Refinance Companies in Rockford

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Al Frederick logo

Al Frederick

2380 Esplanade Drive, Suite 301, Algonquin, IL 60102
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  • New Construction

Al Frederick has been dealing with clients throughout the Rockford metro for over five years. As a branch manager at First Centennial Mortgage, Frederick works with homeowners looking to refinance their goals. He runs a website that contains a mortgage calculator to help individuals visualize their financial decisions. He also offers a range of loan programs, from fixed-rate and adjustable-rate mortgages to FHA and VA loans, for aspiring homeowners. Frederick has more than two decades of experience in the industry.

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Al Martinez logo

Al Martinez

10417 Dawson St., Huntley, IL 60142
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  • New Construction

Al Martinez is a mortgage broker who has been serving customers in the Rockford metro for over 25 years. He helps clients with the mortgage refinancing process to reduce interest rates or switch from adjustable to fixed-rate loans. He handles various loan types, such as jumbo, VA, FHA, 203k, and USDA. He offers Lock & Shop program, which enables borrowers to lock in the current interest rate for up to 120 days. Martinez is part of the C & R Mortgage.

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American Home Enterprises logo

American Home Enterprises

158 E Chicago St, Elgin, IL 60120
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  • New Construction
  • Reverse Mortgages

American Home Enterprises is a mortgage brokerage firm serving clients in Rockford. The company enables homeowners to consolidate debt, reduce monthly payments, and lower interest rates through mortgage refinance. Its independent brokers work with clients in determining the best refinance option for their financial needs. Some of its refinance programs include cash-out or cashback, lower fixed-rate, shorter-term, and longer-term loans. Monica Bueno, the company's founder, brings over 18 years of experience in the real estate and mortgage industry. Originally from Ecuador, she caters to both English- and Spanish-speaking communities.

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Direct Mortgage Corporation logo

Direct Mortgage Corporation

460 Briargate Drive. Suite 200, South Elgin, IL 60177
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  • New Construction

Direct Mortgage Corporation is a local mortgage broker catering to residents of Rockford and surrounding areas. Its team helps property owners refinance their mortgages to lower interest rates and payments or tap into equity. The company also has loan options for clients looking to purchase a new home or additional real estate for residential or investment purposes. Direct Mortgage Corporation was founded in 1996 and is staffed with mortgage experts who have over three decades of industry experience.

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Don Elbert logo

Don Elbert

875 Feinberg Ct. #103, Cary, IL 60013
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  • Reverse Mortgages

Don Elbert serves the mortgage needs of families and individuals in Rockford and nearby metros. He works at Peace Mortgage Inc., helping clients who want to refinance loans to acquire their dream residential spaces. He works with customers to develop strategies for lowering interest rates and monthly payments. The professional also caters to first- and second-time buyers, as well as investors who need financing solutions to maximize their ROIs. Elbert conducts email and phone consultations.

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Get Approved Mortgage, Inc. logo

Get Approved Mortgage, Inc.

2821 Glenwood Ave, Rockford, IL 61101
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  • New Construction
  • Reverse Mortgages

Get Approved Mortgage, Inc. is a Rockford-based company. The brokerage provides home loan refinancing, whether the goal is to shorten the term of a loan, lower the interest rate and monthly payment, consolidate multiple mortgages, or free up home equity. Customers are educated about their options, which include conventional, 203K, FHA, USDA, and VA streamline refinance loans. Get Approved Mortgage, which was founded in 2016, also serves residents of the states of Indiana, New Jersey, Michigan, and Washington.

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Mortgage Capital Group, Inc. logo

Mortgage Capital Group, Inc.

64 E Crystal Lake Ave, Crystal Lake, IL 60014
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  • New Construction
  • Reverse Mortgages

Mortgage Capital Group, Inc. serves clients in and around Rockford. It provides refinancing plans to customers who want to lower their monthly payments and interest rates or shorten their loan terms. Eligible borrowers may also choose to cash out money from their home equity to consolidate debts or pay for home improvements. Other mortgage programs include FHA, VA, USDA, and conventional loans. The company works to meet the unique needs of each client through a relationship-based approach.

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Quantum Mortgage Group logo

Quantum Mortgage Group

2215 Perrygreen Way, Suite 3, Rockford, IL 61107
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  • New Construction

Quantum Mortgage Group is a Rockford-based mortgage brokerage serving the metro and nearby areas. It helps borrowers prequalify for loans, purchase new homes, and refinance existing mortgages. Its team of advisors crafts personalized loan strategies that accommodate differing financial situations and property purposes, from residential homes to vacation houses, for investment or renovation. Quantum Mortgage Group combines technology and customer service to deliver a convenient client experience, with 24/7 online applications, automated status updates, and other helpful tools.

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Source 1 Mortgage logo

Source 1 Mortgage

1430 Dekalb Ave, Sycamore, IL 60178
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  • New Construction
  • Reverse Mortgages

Source 1 Mortgage helps Rockford residents looking to buy, sell, refinance, build, or invest in a residential property. Its refinance products help in reducing rates and payments, changing term lengths, or cashing out of home equity. In addition, it assists current and prospective homeowners in availing loans from the FHA, VA, and USDA or applying for fixed mortgages with 15- and 30-year terms. Source 1 Mortgage has more than two decades of experience in the industry.

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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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