Expertise.com

Best Mortgage Refinance Companies in Lawrence

2023

We did the research for you!

  • Licensing
  • User Reviews
  • Mystery Shopping Calls
Mortgage Refinance Companies FAQs 〉

Last updated:

Website
110 Haverhill Road, Suite 452, Amesbury, MA 01913
  • New Construction

Why choose this provider?

Blue Water Mortgage is an independent and owner-operated mortgage company, proudly serving residents in and around Lawrence and New England. Since opening in 2002, our knowledgeable team has assisted thousands of homeowners with their home financing needs. As a broker and lender, we have access to a large variety of loan products so that we can provide our clients with the best possible rates and terms for their refinancing scenario. Our goal is to achieve 100% customer satisfaction on every mortgage we originate. Let us show you the Blue Water way! Company NMLS #1291.

License Verified:

License: 2387468

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.
4.9
Google
4.9 / 5 (263)
Facebook
4.8 / 5 (54)
Yelp
4.5 / 5 (18)

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
224 Main Street Suite 1A, Salem, NH 03079
  • New Construction

Why choose this provider?

Omni Mortgage offers its services around the Lawrence area. It assists clients looking for mortgage refinancing options and obtaining lower interest rates. The business also provides FHA loans, VA loans, and reverse mortgage programs. It commits itself to helping families buy their primary homes and investment properties. One of its team members, Michael Loffredo, has been in the industry since 1987, handling residential and commercial clients. Omni Mortgage is also licensed in Massachusetts, Florida, and Maine.

License Verified:

License: 1954

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.
4.9
Google
4.9 / 5 (185)

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
990 Washington St, Suite 101A, Dedham, MA 02026
  • Reverse Mortgages
  • New Construction

Why choose this provider?

BayCoast Mortgage Company LLC serves borrowers in the greater Lawrence metro who are looking to purchase their own homes or invest in real estate. The mortgage staff offers home purchase loans and refinancing options, such as VA, USDA, FHA, adjustable-rate, fixed-rate, and conventional loan programs. In addition, it offers construction, blanket, home equity, medical, Fannie Mae, and Freddie Mac loans. The full-service lending company is owned by BayCoast Bank, a financial institution established in 1851.

License Verified:

License: 1082048

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 (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
Methuen, MA 01844
  • Reverse Mortgages

Why choose this provider?

Aneudy Mendoza is a loan originator who serves the mortgage needs of residents in and around Lawrence. He provides refinancing assistance to help individuals and families purchase their preferred residential properties. He works closely with borrowers to create refinancing strategies that can lower interest rates and monthly payments. The professional also offers different mortgage programs, such as FHA, VA, HARP, and conventional loans. Mendoza works at Equity Prime Mortgage, a company that is a member of the Mortgage Bankers Association.

License Verified:

License: 1648179

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.
4.7
Google
4.7 / 5 (312)

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.
  • When refinancing, is there a state law that protects homeowners in Lawrence from predatory lenders?

    Yes. The Predatory Home Loan Practices Act offers protection from loan flipping or the practice of repeated refinancing that is not beneficial to the borrower. Lenders usually profit from this through prepayment penalties and high fees in closing, loan origination, and points payments. This leads to borrowers losing their home's equity or paying more for the refinancing even with a modest decrease in loan rates. Borrowers in Lawrence with this kind of issue may consult the Massachusetts Commission Against Discrimination by calling it at 617-994-6000 or visiting its office at 1 Ashburton Place, Room 601, Boston, MA 02108.

  • Are you going to pay closing costs when you refinance in Lawrence?

    In general, yes. On average, the closing cost ranges from 2% to 5% of the loan amount. It depends on a number of factors, including the loan term and size, credit score, the property's location, and the lender. It is comprised of several costs, such as the fees for application, home appraisal, title search and insurance, recording, and loan origination. Some of these fees can be negotiable. You can also negotiate with the lender in Lawrence not to pay the closing cost upfront by rolling it into your loan balance. This is known as no-cost closing.

  • If you apply for a home equity loan, do you need to pay off the down payment assistance under Lawrence's First Time Home Buyers Program?

    Yes. This is applicable if you apply for a home equity loan, cash-out refinance, or Home Equity Line of Credit. Similarly, you have to pay off the downpayment assistance if you sell the property, transfer the title, or defaulted on the mortgage. For more information on the First Time Home Buyers Program by calling the Community Development Department at 978-620-3531 or visiting its office at 12 Methuen Street, Lawrence, MA.

  • When is a good time to refinance, before or after the renovation of a home in Lawrence?

    It depends on the homeowner's goal. If the homeowner in Lawrence is looking to get more money from their home's equity, refinancing after a renovation is a better option. This is because the renovation increases the home's value and subsequently its equity. When the homeowner wants to lower their monthly payments, then it is better to refinance before renovating. The money they save from the lower payments can be used to fund the renovation.

  • What are the advantages of refinancing a mortgage in Lawrence through MassHousing?

    Refinancing with MassHousing can help borrowers in Lawrence avoid the risks of future high payments and save some money. It allows borrowers to get fixed interest rates throughout the life of the mortgage. They can also apply for a MassHousing Refinance and Renovation loan to cover the costs of repairs, improvements, and upgrades.

  • 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.