Expertise.com

Best Mortgage Refinance Companies in Cambridge

2023

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Website
37 Newbury St, #6th, Boston, MA 02116
  • New Construction
  • Reverse Mortgages

Why choose this provider?

James A Thom is a mortgage broker that offers refinancing services to clients in the Cambridge metro and nearby areas. He is a Certified Mortgage Planning Specialist, experienced in handling first-time homeowners' concerns, new constructions, and relocations, resulting in jumbo loan applications, which he also facilitates. NMLS-registered James A. Thom is also licensed to operate in 13 more US States. He is also a senior loan officer for Fairway Mortgage, a lending firm that has been around since 1996.

License Verified:

License: 2118704

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Facebook
5.0 / 5 (8)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
Cambridge, MA
  • Reverse Mortgages

Why choose this provider?

Best Rate Mortgage helps clients in Cambridge and nearby areas take advantage of the benefits of mortgage refinancing. It offers various loan programs besides refinances, including fixed-rate mortgage and adjustable-rate mortgage programs. The agency has different loan categories, which include purchase with a 10- to 30-year fixed rate mortgage and ARM with 1-, 3-, 5-, and 7-year ARMS. Refinancing mortgage loans are available to owners and non-owners of occupied multifamily apartments, single-family homes, and condominiums.

License Verified:

License: 398039

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Facebook
5.0 / 5 (17)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
321 Walnut Street #412, Newtonville, MA 02460

Why choose this provider?

Westchester Mortgage takes a human approach to home refinancing, led by mortgage broker Debbie Siegel who takes the time to listen to clients' goals. Whether borrowers are considering refinancing for reduced interest rates, a change in loan type, debt consolidation purposes, or home improvement endeavors, Debbie has over 20 years of experience helping them understand their options. Westchester Mortgage caters to various clients, including first-time home buyers, cohabitating couples, older couples downsizing, and investors in Cambridge.

License Verified:

License: 272780

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (1)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
Melrose, MA 02148
  • New Construction
  • Reverse Mortgages

Why choose this provider?

Paul Ruggiero provides clients from Cambridge with various mortgage and refinancing options as a loan officer under Edge Home Finance. He offers personalized recommendations that fall within a prospective applicant's financial means and goals for a specific loan plan, such as using cash-outs for debt payments. His programs make use of data that is derived from analyses of marketing conditions and comparisons of local interest rates and property values. His options involve fixed- and adjustable-rate mortgages as well as conforming and jumbo loans.

License Verified:

License: 2094373

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (9)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
19 Pilgrim Road, Boston, MA 02215
  • New Construction

Why choose this provider?

Geovanne Colon is a mortgage broker and advisor serving customers in and around Cambridge. He caters to homeowners who are looking to refinance their mortgage or those who want to purchase their first home. He is available to assist customers over the phone or via email. He aims to provide clients with a positive mortgage experience by guiding them through the entire process, giving them regular updates about their loan status, and helping them meet all deadlines.

License Verified:

License: 1880655

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (24)
Facebook
5.0 / 5 (9)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
181 Wells Ave # 206, Newton, MA 02459
  • New Construction

Why choose this provider?

Mortgages, Inc. caters to the housing needs of individuals, couples, and families in Cambridge and the nearby areas. It helps its clients in applying, qualifying, and getting approved for a loan that suits their needs. The firm's brokers offer government programs such as FHA and VA loans. They also assist their customers in saving more money on their mortgages by providing refinancing solutions, which include debt consolidation. Owner Marcia Lazar has more than 24 years of experience in the field.

License Verified:

License: 1726

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Yelp
5.0 / 5 (116)
Google
5.0 / 5 (8)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
3.8
Responsiveness
Friendliness
Helpfulness
Detail
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Website
200 Lincoln Street #405, Boston, MA 02111
  • Reverse Mortgages
  • New Construction

Why choose this provider?

MassHome Mortgage LLC is a brokerage company that offers a variety of residential and commercial loan programs for clients in Cambridge and nearby locations. It carries fixed and adjustable-rate mortgages, commercial real estate loans, and second mortgages. Through its First Time Home Buyer program, the agency also assists clients in achieving their property ownership goals. Since 1999, MassHome Mortgage LLC has been in business. It employs loan specialists who are fluent in English, Cantonese, and Mandarin.

License Verified:

License: 1880432

Nationwide Multistate Licensing System and Registry

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
2.8
Responsiveness
Friendliness
Helpfulness
Detail
––

Website
50 Milk Street, 16th Floor, Boston, MA 02109
  • New Construction
  • Reverse Mortgages

Why choose this provider?

Own Up serves individuals in Cambridge who require mortgage options. The agency advises clients on the details of various financing products offered by separate lenders and uses current technological tools to match each buyer with the appropriate provider. Counsel on refinancing services is also available. The company keeps its customers' personal information secure in the absence of consent. Own Up has been featured on mass media outlets such as Forbes, Yahoo Finance, and USA Today.

License Verified:

License: 1450805

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.8
Google
4.8 / 5 (611)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
343 Washington Street, Newton, MA 02458
  • New Construction

Why choose this provider?

Superior Funding Corporation is a mortgage lending company that assists home buyers in Cambridge. Its agents adopt a technical approach to providing services, which includes spending time to be updated on changing guidelines and honing their technical knowledge in programs and products. They offer fixed-rate, adjustable rate, high balance conforming, and jumbo loans. The professionals also provide USDA, FHA, VA, and Fannie Mae HomeReady loans. Superior Funding Corporation has been in the mortgage banking industry for over 18 years.

License Verified:

License: 2972

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (35)
Yelp
5.0 / 5 (5)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
424A Harvard Street, Brookline, MA 02446
  • New Construction
  • Reverse Mortgages

Why choose this provider?

PrimeLending offers refinancing options to Cambridge clients. The company offers various refinance options for its clients, such as cash-out and jumbo loans. Its refinance loans may come in fixed or adjustable interest rates, or short or long terms, designed to suit the different needs of homebuyers. As a people-first company, PrimeLending makes the home loan process stress-free so that clients always have a positive experience. Founded in 1986, it offers more than 400 mortgage products with solutions continually tailored for clients’ benefits.

License Verified:

License: 1940983

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (2)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
40 Eastern Ave., Malden, MA 02148
  • Reverse Mortgages

Why choose this provider?

Transcend Mortgage Inc serves the refinancing needs of homeowners throughout Cambridge and the surrounding metros. Whether clients are owners of single- or multi-family homes, condominium units, townhouses, or manufactured homes, the agency provides comprehensive assistance in connecting them with loan options that meet their particular needs. It also offers FHA, VA, USDA, and jumbo loans for clients looking to purchase properties. The company maintains The Loanzify app, which helps clients with their mortgage applications and keeps them in touch with their loan officer and real estate agent.

License Verified:

License: 1499726

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (48)
Facebook
5.0 / 5 (3)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Frequently Asked Questions

  • 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 can Cambridge homeowners take advantage of their equity?

    Those in Cambridge who have accumulated home equity may tap into it through a cash-out refinance. However, higher interest rates make home equity lines of credit (HELOCs) a more viable option. During the third quarter of 2022 alone, the average Massachusetts homeowner gained $35,000 in home equity, with HELOC origination reaching record-high volumes the same year.

  • How much equity is needed for a Cambridge refinance?

    Homeowners in Cambridge with conventional loans typically need at least 20% equity in their home to qualify for a refinance. For FHA cash-out refinances, it is preferred for borrowers to have 20% equity remaining after the refinance. Meanwhile, those with VA loans are permitted to access 100% of their home equity in a cash-out refinance.

  • What is an interest rate differential in a Cambridge refinance?

    The interest rate differential is the difference between a Cambridge homeowner’s current interest rate on their mortgage and the new interest rate from their refinance. It is used to calculate the cost of getting out of one’s mortgage. To get one’s mortgage penalty, the interest rate differential must be multiplied by the number of years left in one’s current mortgage term.

  • How often can Cambridge homeowners refinance their mortgages?

    There is no limit to how many times homeowners in Cambridge can refinance their mortgages, as long as they comply with the lender’s requirements. However, lenders typically enforce a six-month waiting period between refinances. For borrowers with a VA loan, the wait is 210 days from the closing date of the first mortgage.

  • Can discrimination in a Cambridge refinance be reported?

    Racial minorities in Cambridge who experience discrimination while applying for a refinance are advised to report the incident to Cambridge’s Human Rights Commission. Under the city’s fair housing regulation, the commission may investigate and refer illegal housing discrimination cases to the Massachusetts Commission Against Discrimination. According to Massachusetts’ Partnership for Racial Equity, refinancing applications from black applicants were denied 12% more than their white counterparts in 2021.

  • 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.