Expertise.com

2024

Last updated:

Best Mortgage Refinance Companies in Lynn, MA

Our Recommended Top 10

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 Lynn 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.

59Reviewed

39Curated

10Top Picks

Learn about our selection process.

Providers

featured provider = Featured Provider

7 Essex Green Dr., 1st Floor, Peabody, MA 01960
WebsiteLicense: 62411

Expertise.com Rating

Review Sources

Google
4.9 (17)

Why choose this provider?

Republic State Mortgage is an Equal Housing Lender that caters to the Lynn community and its surrounding areas. It helps home buyers and homeowners make informed financing decisions. The firm's professionals assist clients in refinancing their existing loans to reduce monthly payments and shorten mortgage terms. They also offer cash-out refinance options to homeowners intending to withdraw money for home improvement or debt consolidation. Additionally, Republic State Mortgage advises clients on the best loan program for their needs based on their current financial situation.

  • New Construction

98 High Street, Danvers, MA 01923
WebsiteLicense: 47904

Expertise.com Rating

Review Sources

Google
5.0 (35)
Facebook
5.0 (20)
Yelp
5.0 (5)

Why choose this provider?

Mike Rice "The Mortgage Guy" is a mortgage advisor from NewFed Mortgage who serves clients in the Lynn metro and across several states, including MA, NH, ME, CT, RI. He offers a variety of refinancing and home loan solutions to help individuals decrease their monthly mortgage payments or purchase a new property. The Mortgage Guy guides first-time home buyers about the selection of products available to them, including conventional, FHA, adjustable-rate, fixed-rate, jumbo, and VA mortgages. Mike has been in the business for 20 years.

  • Mortgage
  • Mortgage Brokers
  • Reverse Mortgages

50 Milk Street, 16th Floor, Boston, MA 02108
WebsiteLicense: 1450805

Expertise.com Rating

Review Sources

Google
4.8 (612)

Why choose this provider?

OwnUp is a technology company that helps homeowners in Lynn with their mortgage refinancing needs. It assists borrowers who are looking to cash out of their homes or refinance their existing mortgages into loans with different interest rates and terms, ultimately helping them save money over the duration of their mortgages. The company also dedicates expert home advisors to guide clients throughout the refinance process. OwnUp has been featured in several prominent magazines and media outlets, including Forbes, Bloomberg, and USA Today.

  • New Construction

89 Front Street, Marblehead, MA 01945
WebsiteLicense: 1187

Expertise.com Rating

Review Sources

Google
4.5 (6)

Why choose this provider?

Stepstone Mortgage Company, Inc., offers mortgage refinancing for Lynn-based borrowers. Its team commits itself to offering financial services and the lowest available local rates with the ultimate goal of forging lasting relationships with its clients. The company provides tailored financial solutions and helps clients obtain refinancing loans and consolidate debt. It provides ARM and fixed-rate mortgages, as well as conforming, conventional, and jumbo loans. It also offers RHS loan programs and VA and FHA loans. The company has been operating since 1988.

  • Reverse Mortgages

Lynn, MA
WebsiteLicense: 2513

Expertise.com Rating

Review Sources

Google
5.0 (63)
Facebook
4.6 (36)
Yelp
5.0 (7)

Why choose this provider?

Miller Mortgage comprises a network of attorneys, mortgage brokers, and realtors helping Lynn residents purchase homes. It offers refinancing options for people seeking to consolidate debts, convert to a fixed-rate mortgage, lower interest rates or monthly payments, reduce terms, or cash out their homes’ equity. The mortgage company seeks out funds from various banks to serve different borrowers, including those with credit issues. It gives back to local communities by supporting organizations, such as the American Cancer Society and Autism Speaks.

  • Reverse Mortgages

Melrose, MA 02176
WebsiteLicense: 2094373

Expertise.com Rating

Why choose this provider?

Paul Ruggiero is a loan officer at Edge Home Finance Corp and strives to meet the refinancing goals of residents in Lynn. He assists loan holders in switching to different options such as ARMs, fixed rates, conforming loans, or USDA, FHA, and VA programs. Using online mortgage calculators and leveraging his experience as a real estate investor, Ruggiero guides clients in evaluating refinance benefits and making choices. He is the co-owner of Ruggiero Properties, LLC, and has been investing for over 10 years.

  • New Construction
  • Reverse Mortgages

4 Lowell Road #11, North Reading, MA 01864
WebsiteLicense: 2901

Expertise.com Rating

Review Sources

Google
3.9 (22)
Facebook
5.0 (11)

Why choose this provider?

Patriot Mortgage Company, Inc., has been handling the needs of homeowners in Lynn and the nearby locations since 1992. The company specializes in different types of mortgage options, which include home purchase and refinance loans. The loan programs include conventional, FHA, VA, and HARP loans. Michael Beckerman, the senior mortgage originator at Patriot Mortgage Company, is in charge of dealing with various lenders to help his clients find suitable loans and rates. He has been working with the company since 1996.

  • Reverse Mortgages

175 Derby Street Suite 36, Hingham, MA 02043
WebsiteLicense: 1701

Expertise.com Rating

Review Sources

Google
4.9 (36)

Why choose this provider?

Heritage Mortage Co. is a Hingham-based firm that has been offering custom loan options to customers in Lynn since 1993. John Trotman, the company's vice president, has developed an in-depth understanding of various mortgage factors, requirements, and scenarios over the course of more than 25 years. He and his colleagues provide customized financial advice for refinancing plans that include residential and commercial property purchases, debt payments, and renovations. They also offer reverse mortgages, which provide retirees with cash equity opportunities.

  • New Construction

300 Rosewood Drive, Suite 240, Danvers, MA 01923
WebsiteLicense: 351606

Expertise.com Rating

Review Sources

Google
5.0 (127)
Facebook
5.0 (40)

Why choose this provider?

Brad Vocino is a mortgage officer who delivers financing solutions to homeowners, buyers, and borrowers in Lynn. He and his team at Ross Mortgage Company educate first-time homebuyers and provide strategies to make the loan process less stressful. They coordinate the home sale and purchase of new homes for clients planning to upgrade. Additionally, they assist borrowers in securing refinancing loans. Vocino started his career as a financial advisor at Morgan Stanley Smith Barney in 2008 and also serves Maine and New Hampshire.

  • Reverse Mortgages

100 Cummings Center Suite 544H, Beverly, MA 01915
WebsiteLicense: 1841

Expertise.com Rating

Review Sources

Google
5.0 (160)
Facebook
5.0 (35)
Yelp
5.0 (8)

Why choose this provider?

Since 1999, GoldCoast Mortgage Service, Inc., has been serving the people in the Lynn metro. The independent agency assists borrowers in lowering their monthly rates and paying off their debts fast through refinancing. Its loan officers help clients make their homeownership easier and better by understanding their objectives and finding solutions. In addition, they offer a range of mortgage loans, including jumbo and adjustable rates. Jeff Rolke, one of the loan officers, worked in the insurance and investment industries before joining GoldCoast Mortgage in 2014.

  • Reverse Mortgages

Compare our Top Mortgage Refinance Companies

NameExpertise RatingAddressPromotionsLearn more
Republic State Mortgage
7 Essex Green Dr., 1st Floor, Peabody, MA 01960
Michael Rice - New Fed Mortgage
98 High Street, Danvers, MA 01923
OwnUp
50 Milk Street, 16th Floor, Boston, MA 02108
Stepstone Mortgage Company, Inc
89 Front Street, Marblehead, MA 01945
Miller Mortgage
Paul Ruggiero
Patriot Mortgage Company Inc.
4 Lowell Road #11, North Reading, MA 01864
Heritage Mortgage Co.
175 Derby Street Suite 36, Hingham, MA 02043
Brad Vocino
300 Rosewood Drive, Suite 240, Danvers, MA 01923
GoldCoast Mortgage Service, Inc.
100 Cummings Center Suite 544H, Beverly, MA 01915

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.
  • When should you avoid a no-closing cost refinancing in Lynn?

    If you intend to stay in your Lynn home for an extended period of time, you should avoid no-closing-cost refinancing because it will increase the costs of your mortgage over the term of your repayment. You will end up paying more interest on closing costs than you would on the initial payment.

  • How can you lower your interest rate for a mortgage refinance in Lynn?

    To get the most out of Lynn refinancing, wait until the new interest rate is at least 1% lower than your current rate. You can also secure lower interest rates by paying higher closing costs and purchasing discount points. You may incur higher closing costs, but you will save money on interest and payments over the life of the loan.

  • How long is an appraisal effective for a mortgage refinance in Lynn?

    Lenders in Lynn will accept an appraisal if it is completed within 120 days of the refinance closing date. This is done to ensure that the findings accurately reflect the current market value. Some loan programs do not require appraisals. Borrowers may also be eligible for an appraisal waiver, which will shorten the refinance process and save money.

  • Should you retain an attorney for a mortgage refinance in Lynn?

    A mortgage refinancing closing in Lynn must be presided over by an attorney in accordance with state law. The real estate attorney will assist in document preparation, ensure that any title issues are resolved, handle mortgage fund distribution, record all required paperwork, and discharge the existing mortgage. Borrowers may have the same or different legal representatives, according to some lenders.

  • When is a cash-out mortgage refinance ideal in Lynn?

    If you don't have much home equity to convert, a cash-out refinance for a Lynn mortgage may not be the best option. It also makes no sense to refinance if you cannot afford the closing costs or long-term financing of your mortgage payments. Additionally, if you have only lived in your current home for less than a year or do not intend to stay in your home indefinitely, it will not benefit you significantly over the loan term.

  • 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.