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2024

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Best Mortgage Refinance Companies in Hammond, IN

Our Recommended Top 5

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 Hammond 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.

44Reviewed

28Curated

5Top Picks

Learn about our selection process.

Providers

featured provider = Featured Provider

2409 W 104th St., Chicago, IL 60655
WebsiteLicense: 215685

Expertise.com Rating

Review Sources

Google
5.0 (169)

Why choose this provider?

Corby Mortgage offers a variety of refinancing options to clients in Hammond. These include VA and FHA home loans and adjustable- and fixed-rate mortgages. The firm helps borrowers determine if refinancing is a smart financial decision through education. Founder Corby Mortgage, with the help of his team, has transformed the company into a flourishing residential brokerage that receives the majority of its business through recommendations and previous clients. The privately owned mortgage business has been serving borrowers since 1999.

  • New Construction

10610 South Western, Chicago, IL 60643
WebsiteLicense: 142716

Expertise.com Rating

Review Sources

Facebook
4.6 (11)
Google
5.0 (5)
Yelp
5.0 (1)

Why choose this provider?

Marvel Ventures Mortgage Incorporated provides solutions to the financing needs of locals in the Hammond metro. It offers mortgage refinance services, helping clients lower the rate of their current home loan or consolidate debt. Its refinancing solutions also assist homeowners that want to update and remodel their property. In addition, the company provides fixed-rate and adjustable-rate mortgages. Adenike Fasanya, the owner of Marvel Ventures Mortgage, is a member of the Illinois Association of Mortgage Brokers’ Political Action Committee.

  • New Construction

4000 W Lincoln Hwy, Merrillville, IN 46410
WebsiteLicense: 120301

Expertise.com Rating

Review Sources

Google
4.9 (39)
Facebook
4.8 (38)

Why choose this provider?

Lake Mortgage Company is a family-owned and family-operated business that caters to first-time home buyers and those looking for second homes in and around Hammond. For over 75 years, the office has been helping clients renegotiate terms, lower mortgage rates, and consolidate loans through its various programs, such as VA, USDA, FHA, and cash-out refinance. It also offers first-time homebuyer loans, like jumbo and conventional. Lake Mortgage Company's web portal and mobile application allow customers to upload and sign documents and track their loan progress.

  • New Construction

2203 45th Street, Highland, IN 46322
WebsiteLicense: 726192

Why choose this provider?

Elsa Razo is a home loan originator for Fifth Third Bank. She provides borrowers in Hammond with refinancing solutions to shorten mortgage terms, consolidate loans, or lower monthly payments. These include traditional mortgages like fixed-rate, adjustable-rate, and FHA loans. Razo also offers specialized programs for medical professionals, veterans or active-duty military members, and individuals seeking high-balance or low-down-payment mortgages. To improve the home loan process, Fifth Third gives access to educational resources and tools, including refinance and home affordability calculators.

  • New Construction
  • Reverse Mortgages

833 West Lincoln Highway, Suite 305W, Schererville, IN 46375
WebsiteLicense: 231317

Expertise.com Rating

Why choose this provider?

Anabel Enriquez is a mortgage broker who deals with the refinancing concerns of individuals in Hammond. The senior mortgage consultant helps her clients in getting lower monthly payments and interest rates by providing various refinancing options. She also offers different types of home lending options, which include Fannie Mae, Freddie Mac, conventional, and government-backed loans. Enriquez works for American Portfolio Mortgage, which is an independent direct lender that has been in the mortgage banking industry since 1996.

  • New Construction

Compare our Top Mortgage Refinance Companies

NameExpertise RatingAddressPromotionsLearn more
Corby Mortgage
2409 W 104th St., Chicago, IL 60655
Marvel Ventures Mortgage Incorporated
10610 South Western, Chicago, IL 60643
Lake Mortgage Company
4000 W Lincoln Hwy, Merrillville, IN 46410
Elsa Razo
2203 45th Street, Highland, IN 46322
Anabel Enriquez
833 West Lincoln Highway, Suite 305W, Schererville, IN 46375

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.
  • Is it still possible to refinance a home in Hammond even if its value has decreased?

    Even if the home's value has declined, borrowers in Hammond can still utilize the FHA Streamline program for refinancing because the key determinant of the loan amount in the FHA Streamline program is the outstanding principal balance of the borrower's current loan. This situation is referred to as an underwater mortgage, enabling individuals to refinance even if their loan amount exceeds their home's present worth.

  • Is there a way to refinance in Hammond without having to pay mortgage insurance?

    In cases where borrowers in Hammond possess an existing conventional loan and opt for a 20% down payment to refinance, they can choose to eliminate Private Mortgage Insurance entirely. Alternatively, if a down payment isn't feasible, borrowers still have the opportunity to have PMI removed by paying off their mortgage over a few years. Once they achieve 22% home equity, PMI is automatically discontinued from their monthly expenses.

  • Is it possible to refinance a mortgage in Hammond without an appraisal?

    Yes, depending on certain requirements, people may be eligible for no-appraisal refinance programs in Hammond. Here are some possible scenarios:

    • Fannie Mae and Freddie Mac loans: Appraisals may be waived if the property meets specific guidelines.
    • USDA loans: This program has the potential to eliminate appraisals for those who have consistently made timely payments for 12 months.
    • FHA home loans: A Streamline Refinance might lower the current rate, possibly even without a credit check.
    • VA home loans: A VA loan refinance targets offering lower rates, focusing on rate reduction rather than cash-out or reinvestment.
  • Who is eligible for a no-appraisal refinance in Hammond?

    Residents of Hammond who hold government-backed loans such as FHA, USDA, or VA loans might be eligible for a no-appraisal refinance through streamlined options. Additionally, borrowers who are up-to-date on their payments may qualify. In lieu of a conventional appraisal, lenders have the option to employ automated tools and previously conducted appraisals to gauge the value of the property. This approach offers a simplified and efficient process for refinancing without the need for a traditional appraisal.

  • Could a cash-out refinance in Hammond be rejected?

    Refinance applications declined in Hammond typically align with specific categories, as outlined in data compiled under the Home Mortgage Disclosure Act:

    • The application submitted was incomplete.
    • The home's value has experienced a decrease.
    • Excessive debt is present.
    • Poor credit history is evident.
    • Insufficient cash reserves are available.
    • The lender faces challenges in verifying provided information.
  • 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.