Expertise.com

2024

Last updated:

Best Mortgage Refinance Companies in Quincy

Our Recommended Top 4

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 Quincy 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.

52Reviewed

32Curated

4Top Picks

Learn about our selection process.

Providers

featured provider = Featured Provider

10 Forbes Rd Suite 290E, Braintree, MA 02184
WebsiteLicense: 2104340

Expertise.com Rating

Review Sources

Google
5.0 (65)
Facebook
5.0 (1)

Why choose this provider?

Dovetail Mortgage helps locals in Quincy improve their financial standing through refinancing. It offers programs for homeowners who want lower monthly payments, interest rates, or loan terms. The team also has products for those who want to fund major home improvements or educational expenses. Additionally, it offers conventional, FHA, VA, USDA, jumbo, and reverse loans. Fixed and adjustable-rate loans are also available. Dovetail Mortgage has a management team with a combined 60 years of experience. It is licensed in Massachusetts, Florida, New Hampshire, and Rhode Island.

  • New Construction

1073 Hancock St. Suite 100, Quincy, MA 02169
WebsiteLicense: 527601

Expertise.com Rating

Review Sources

Facebook
5.0 (8)
Google
5.0 (3)

Why choose this provider?

Northeastern Mortgage LLC caters to residents in the Quincy metro. The business offers refinancing services to clients looking to change their loan terms, take cash out from equity, get lower rates and monthly payment costs, or pay off debts. Its selection of loan types includes FHA, VA, USDA, and Fannie Mae/Freddie Mac loans. In addition, its team assists with fixed-rate, adjustable-rate, and 2/1 buy-down mortgage products. The mortgage brokerage company is led by Joseph M. Garjian, who served as vice president in his previous companies.

  • New Construction

100 Grandview Road, Braintree, MA 02184
WebsiteLicense: 2846

Expertise.com Rating

Review Sources

Google
5.0 (4)

Why choose this provider?

Since 1991, Harbor Mortgage Solutions, Inc., has been helping Quincy seniors and their families purchase homes. It refinances loans to assist borrowers seeking to lower interest rates and monthly payments, shorten terms, or convert their homes’ equity into cash. The firm offers conventional and non-traditional programs, such as construction financing, FHA, first-time homebuyer, HELOC, jumbo, and reverse mortgages. Founder George Downey received the Massachusetts Point of Light award from Governor Mitt Romney for his role in developing Rebuilding Together Boston, a community-based program assisting low-income homeowners, including the elderly.

  • 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 Mortgage Co. serves the residents of Quincy. It offers refinancing and purchase loans for residential properties. The brokerage has been operating since 1993 and has access to a wide array of loan programs, including Fannie Mae and Freddie Mac loans. It also assists with reverse mortgages and commercial property loans. Its loan originators perform the work of looking for rates and terms that are appropriate for the client's situation. Each client is assisted by the same loan originator throughout the process.

  • Reverse Mortgages

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.
  • Are there existing rules in Quincy that prevents homeowners from refinancing their properties multiple times?

      There is no restriction on the frequency of mortgage refinancing in Quincy. One can even refinance as many as five times. However, it is important to note that you will still be required to meet the specific requirements set by your lender in order to qualify for refinancing, which include having sufficient equity in your home. To refinance your mortgage, most lenders typically require a minimum of 20% equity in your home. If you do not meet this requirement, you may face limitations on how frequently you can refinance.  

  • Is an attorney required for Quincy mortgage refinancing closings?

    Yes. An attorney must oversee the closing process and the closing itself in Quincy, as mandated by state law. A lawyer can address title defects, distribute mortgage funds, record documents, and discharge the previous mortgage. They are also responsible for helping with the preparation and comprehension of important legal documents, such as the deed, note, and mortgage.

  • In Quincy, what is the distinction between a cash-out refinance and a home equity loan?

    Home equity loans are additional loans. This means you'll have two liens and two mortgage payments. In the event that you are unable to make payments, your primary mortgage lender will be the first to receive them. Home equity loans also have considerably higher interest rates. A cash-out refinancing, on the other hand, replaces your mortgage, so you'll have one loan, lender, and payment. Since the lender is holding the first lien in this situation, interest rates are significantly lower. Consult with a reputable Quincy mortgage lender to help you choose the best option for you.

  • What are the pros and cons of refinancing a second mortgage in Quincy?

    It's always a good idea to weigh the advantages and disadvantages of refinancing a second mortgage to ensure it's a wise decision. The benefits of refinancing include the following:

    • It can reduce your interest rate, saving you money.
    • It lowers your monthly payments by reducing the interest rate or extending the loan term.
    • It allows you to switch from a variable rate loan to a fixed rate loan. Refinancing, however, has the following drawbacks:
    • It involves covering closing costs.
    • If market rates have increased or your credit score has decreased, you might need to accept a higher interest rate. Speak with an experienced Quincy mortgage lender to help you with your decision.
  • Is it necessary to have a good credit score when it comes to mortgage refinancing in Quincy?

    In essence, yes, because a credit score higher than 580 is preferable. Lenders around Quincy are generally cautious about approving applicants with a credit score below 580 and at least two missed payments on their credit report, especially for installment loans within the past year. Borrowers with a credit score of 620 or higher have more loan options and can explore different lenders. If you have a low credit score, work on improving it before applying for a mortgage refinance.

  • 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.