Best Mortgage Refinance Companies in Springfield

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351 Mortgage logo

351 Mortgage

8 Keith Hill Road, Grafton, MA 01519
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  • Reverse Mortgages

351 Mortgage is a woman-owned and woman-operated brokerage that provides home loan advice and options for clients in and around Springfield. It helps homeowners and home buyers pay off their current mortgage with a new mortgage through refinancing. Its loan officers provide various home financing options, such as fixed-rate, adjustable-rate, and conforming loans. The owner, Pam Kate, is a broker and former account executive for Fannie Mae. She began her mortgage career at Bank of Boston more than 30 years ago.

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American Mortgage Affiliates Company, LLC logo

American Mortgage Affiliates Company, LLC

20 Waterside Drive, Suite 202, Farmington, CT 06032
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  • New Construction
  • Reverse Mortgages

American Mortgage Affiliates Company, LLC, helps Springfield residents reduce their existing loan rates and cash out on equity. It offers refinancing loan programs, including fixed-rate, ARM, USDA, VA, and FHA loans. It also offers home purchasing loans, such as 203K and Super Jumbo. The company caters to first-timers as well as those who have already refinanced multiple times. It strives to make the refinancing process convenient through its fully online loan application. President Eric Johnson has over 15 years of mortgage industry experience.

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Applied Mortgage logo

Applied Mortgage

211 North St, Northampton, MA 01060
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Applied Mortgage is a family-run branch of HarborOneMortgage, or formally Merrimack Mortgage, LLC. It serves homebuyers in Springfield, offering several mortgage programs, including conventional, mass housing, and USDA loans. The firm also assists clients from contract to closing, making an offer to property sellers, listing houses for sale, and conducting home inspections. Applied Mortgage has been serving the Pioneer Valley since 1987. It gives back to the community by supporting several groups, such as the Downtown Amherst Foundation.

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Drew Mortgage Associates Inc. logo

Drew Mortgage Associates Inc.

196 Boston Turnpike, Shrewsbury,, MA 01545
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  • New Construction
  • Reverse Mortgages

Drew Mortgage Associates, Inc., serves Springfield residents, including Spanish-speaking ones, who seek comprehensive refinancing choices. Its staff assesses a potential applicant's qualifications for specific refinancing programs using information involving their interest rates and credit histories, as well as their current loan programs. It provides clients with informative insight into opportunities that involve reduced loan terms, improved interest rates, and financial emergencies. The agency is also open for inquiries concerning commercial or jumbo mortgages and home equitiy and community lending programs.

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Generation Mortgage, LLC logo

Generation Mortgage, LLC

105 East Center Street, Manchester, CT 06040
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  • New Construction
  • Reverse Mortgages

Generation Mortgage, LLC, helps ease monthly loan responsibilities for homebuyers in Springfield. It works with over 40 lenders and assists clients in choosing programs where they can obtain lower rates and adjust terms. Among its loan options are conventional, FHA, USDA, VA, jumbo, and non-qualified mortgages. Its team affixes its work to the value of transparency by providing customers with updates and financial situation assessments. Generation Mortgage is a family-owned and -operated company with a mission to make homeownership a reality for future generations.

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Oguz Kuruca logo

Oguz Kuruca

639 Enfield Street, Enfield, CT 06082
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  • New Construction
  • Reverse Mortgages

Oguz Kuruca is a loan officer with First World Mortgage who assists clients in Springfield. Kuruca provides assistance with refinancing, helping property owners achieve long-term financial security by tailoring their financing needs to suit their lifestyles and goals. He also works with clients seeking purchase loans including conventional, USDA, CHFA, VA, FHA, and FHA 203K. Founded in 1992, First World Mortgage is a full-service mortgage lender that serves clients across Connecticut, Massachusetts, Rhode Island, New Jersey, Florida, Georgia, and Wisconsin.

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Right Trac Financial Group logo

Right Trac Financial Group

110 Main Street, Manchester, CT 06042
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  • New Construction
  • Reverse Mortgages

Right Trac Financial Group works with individuals and families in and around Springfield. Its team caters to clients who want to refinance their loans to improve their residential spaces, such as single- and multi-family homes, condominiums, and townhouses. The agency helps homeowners develop refinancing solutions to consolidate their debts and lower interest rates. It processes different mortgage programs, including USDA, VA, FHA, and conventional loans. Owner Joe Petrowsky is a mortgage broker who has over 40 years of industry experience.

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Security First Mortgage Funding logo

Security First Mortgage Funding

21 N. Quinsigamond Ave, Shrewsbury, MA 01545
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  • New Construction

Security First Mortgage Funding serves individuals and families in the Springfield metro and nearby locations. It assists clients in obtaining pre-qualification, gathering the required documents and credit reports for their application, and closing their home purchase throughout the loan process. It offers a wide variety of loan programs, such as conventional, VA, USDA, and FHA mortgages. The company's website includes calculators to help clients with matters like amortization, debt consolidation, mortgage refinancing, and loan comparisons.

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Southington Mortgage LLC logo

Southington Mortgage LLC

360 North Main St. 1-10, Southington, CT 06489
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  • New Construction

Southington Mortgage LLC has been assisting homeowners and homebuyers in Springfield and nearby locations since 2000. It is headed by David, who offers refinance loans for clients seeking to lower mortgage rates or switch from an adjustable-rate to a fixed-rate mortgage. He helps clients assess their needs and draft refinancing plans accordingly. With access to different lenders, he is able to offer various products such as reverse mortgages and FHA and conventional loans. David has three decades of experience in the industry.

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Frequently Asked Questions

Q: What should you expect when refinancing a mortgage?

A: When refinancing a mortgage, expect to answer a lot of questions and provide documentation to back up your answers. You'll may also pay fees and closing costs of around $5,000. Additionally, expect to start over in terms of building home equity, because refinancing takes the amortization process back to the beginning.

Q: How often should you refinance your mortgage?

A: There is no recommended frequency for refinancing a mortgage. How often you should refinance is determined by when it will save you money. If you can get better terms on your mortgage by refinancing, then it’s a good time to take action.

Q: Can you refinance a first mortgage and not a second?

A: You can refinance your first mortgage and not the second one, but it can be difficult. You have to get the lender of your second mortgage to agree to the refinancing. The process is called resubordination, and some home equity lenders won’t agree. Additionally, lenders typically charge extra fees to resubordinate a loan.

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