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2024

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Best Mortgage Refinance Companies in Worcester

Our Recommended Top 14

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 Worcester 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.

105Reviewed

68Curated

14Top Picks

Learn about our selection process.

Providers

featured provider = Featured Provider

6 Maple St Suite 202, Northboro, MA 01532
WebsiteLicense: 3571

Expertise.com Rating

Review Sources

Google
4.9 (42)
Facebook
5.0 (7)

Why choose this provider?

Prestige Home Mortgage is an equal housing opportunity lender that assists homebuyers in Worcester with home purchasing and refinancing needs. It offers various loan programs, including conventional, FHA, VA, USDA, jumbo, and renovation mortgages. The firm also helps clients through loan processes, such as documentation, appraisal, underwriting, conditional approval, and closing. Although Principal and Owner Wes Oliver founded Prestige Home Mortgage in 2006, he has been in the mortgage industry since 2003 as a loan officer.

  • New Construction

196 Boston Turnpike Road, Shrewsbury, MA 01545
WebsiteLicense: 2856

Expertise.com Rating

Review Sources

Google
4.8 (48)
Facebook
4.4 (12)

Why choose this provider?

Drew Mortgage Associates Inc. delivers refinancing and loan options to house buyers based in Worcester. Its financing programs include USDA rural and FHA streamline options. Products with adjustable rates are available, as well as choices aimed at first-time purchasers. The agents walk clients through refinancing procedures to restructure debts and narrow down compliance processes. Drew Mortgage Associates is a family venture that is locally operated. It has bilingual staff members who transact with Spanish speakers.

  • Reverse Mortgages

652B Park Avenue, Worcester, MA 01603
WebsiteLicense: 2084

Expertise.com Rating

Review Sources

Google
4.9 (100)

Why choose this provider?

Ross Mortgage Company has been responding to loan-related concerns from prospective home buyers in Worcester since 2001. The agency understands the complexity of mortgages and assists individuals and families by educating them on the process and the available mortgage refinancing options. It creates customized solutions to achieve desired results, like interest rate reduction. The agency also aids in the pre-approval process. Ross Mortgage Company actively supports New England Center for Children, which helps those on the autism spectrum.

  • New Construction
  • Reverse Mortgages

1775 Massachusetts Ave Suite 4, Lexington, MA 02420
WebsiteLicense: 1445

Expertise.com Rating

Review Sources

Google
4.5 (13)
Yelp
5.0 (3)

Why choose this provider?

Capstone Mortgage caters to people refinancing an existing loan, building a home, or purchasing a property in Worcester. The company has been working with a range of clients since 1996, from individuals and families to retirees and veterans. Its refinancing solutions provide borrowers advantages such as consolidating debt, lowering monthly payments, and changing from an adjustable to a fixed rate. Founder Chris Smith has been a loan originator for over three decades, directing clients to loan programs while discussing their financial goals.

  • Multi-Family Loans
  • New Construction

392 S. Main St., Athol, MA 01331
WebsiteLicense: 30967

Expertise.com Rating

Review Sources

Google
4.9 (46)

Why choose this provider?

Team Hunton is a full-service mortgage brokerage firm serving Worcester. The company provides mortgage refinance to individuals who wish to pay off their current mortgage through a new loan. Its independent brokers work with over 50 different lending companies to help clients choose the best refinance program for their financial situation. The team also provides conventional, reverse, FHA, VA, USDA GRH, and commercial mortgages. Its team leader, Brian Hunton, has been with MBA Mortgage for over 12 years. He is a long-time supporter of the Disabled Veterans of America's Department of Massachusetts.

  • Commercial Loans
  • Reverse Mortgages

8 Cedar St. Suite 101, Hopkinton, MA 01748
WebsiteLicense: 2607

Expertise.com Rating

Review Sources

Google
5.0 (16)

Why choose this provider?

HomeState Mortgage provides mortgage refinancing solutions for clients in Worcester and the surrounding areas. It offers several fixed- and adjustable rate options for borrowers seeking to refinance outstanding loans in order to improve cash flow and consolidate debt, as well as save money and reduce interest rates. One of its past clients commended the company for contacting him several months after his initial refinancing to inform him about a loan program that would allow him to save money on his monthly payments.

  • Multi-Family Loans

6 Maple St Suite 202, Northborough, MA 01532
WebsiteLicense: 2868

Expertise.com Rating

Review Sources

Facebook
5.0 (59)
Google
4.9 (42)
Yelp
2.5 (8)

Why choose this provider?

Prestige Home Mortgage caters to people in Worcester and the surrounding areas. Its experts assist those looking for mortgage programs to refinance their existing loans or purchase new homes. They are dedicated to helping clients find a financing plan that suits their particular requirements. The team also keeps borrowers updated throughout the process by communicating with them on a regular basis. Its diverse clientele includes individual homebuyers, real estate professionals, and builders throughout the state.

  • Reverse Mortgages

92 Maple Street, West Boylston, MA 01583
WebsiteLicense: 1485277

Expertise.com Rating

Review Sources

Google
5.0 (20)
Facebook
5.0 (19)

Why choose this provider?

All East Mortgage Advisors, LLC, offers the Worcester community wholesale programs from major lenders in the country. Using comparative analysis software, its loan officers search and compare options suitable for clients' refinancing objectives. They analyze finances, credit history, and needs and keep clients informed of the ever-changing market rates so they can make educated decisions. They streamline the application process by creating a quick-approval system and leveraging technology. Additionally, they serve the residents of New Hampshire and Florida.

  • New Construction

21 N. Quinsigamond Ave, Shrewsbury, MA 01545
WebsiteLicense: 252771

Expertise.com Rating

Review Sources

Google
4.9 (119)
Facebook
5.0 (61)
Yelp
3.0 (2)

Why choose this provider?

Security First Mortgage Funding assists customers in the Worcester area in purchasing or refinancing their homes. The mortgage refinance company offers a variety of loan programs such as VA, FHA, conventional fixed-rate, jumbo, adjustable rate, and mass housing. The business aims to help its clients get their ideal homes and create good relationships by guiding them through the entire loan process and helping them select the right mortgage that will fit their income and lifestyle.

  • Reverse Mortgages
  • New Construction

165 Main St., Medway, MA 02053
WebsiteLicense: 1410

Expertise.com Rating

Review Sources

Facebook
4.9 (36)
Google
5.0 (14)

Why choose this provider?

New Horizon Mortgage is a family-owned and family-operated firm that caters to people living in Worcester. It provides a wide variety of refinancing options, such as 15-, 20-, and 30-year fixed-rate mortgages. It also assists homebuyers in applying for FHA, VA, and USDA loans. Owner Brian Ambrose has more than 20 years of experience in the field. He is a member of many industry boards, such as the Massachusetts Mortgage Bankers Association and the Association of Independent Mortgage Experts. 

  • Reverse Mortgages

783 Southbridge St, Auburn, MA 01501
WebsiteLicense: 19301

Expertise.com Rating

Review Sources

Google
4.5 (11)

Why choose this provider?

Murphy Mortgage Team of the Fairway Independent Mortgage Corporation serves the refinancing needs of clients in Worcester and the neighboring areas. Its loan advisors provide clients with a variety of refinancing choices to match their requirements and objectives, whether it is to reduce loan terms, merge a first and second lien into a single loan, consolidate debt, or convert home equity into cash. Branch Manager Bill Murphy has 23 years of experience in the mortgage industry and is an Affiliate Member of the Worcester Board of Realtors.

  • New Construction
  • Reverse Mortgages

34 Hayden Rowe St, Suite 158, Hopkinton, MA 01748
WebsiteLicense: 1284889

Expertise.com Rating

Review Sources

Google
5.0 (42)

Why choose this provider?

Prime Rate Home Mortgage LLC. caters to clients throughout Worcester. The company provides assistance to homeowners looking to switch from an adjustable-rate mortgage to a fixed-rate program through guidance with the refinancing process. It discusses factors like economic trends and income projections in meetings with clients. The company also offers a range of loan options for first-time home buyers, from USDA, VA, and FHA programs to conventional and jumbo loans. Leigh Walker, its owner, previously worked as a branch manager at Guide Mortgage.

  • New Construction
  • Reverse Mortgages

74 South St, Hopkinton, MA 01748
WebsiteLicense: 4948

Expertise.com Rating

Review Sources

Google
5.0 (92)
Facebook
5.0 (28)

Why choose this provider?

Zenith Mortgage Advisors serves clients in the Worcester metro. It offers borrowers with existing mortgages various refinancing options that meet their financial goals. Its agents assist individuals looking for better interest rates and those who want to cash out. They provide streamlined and cash-out products from USDA, FHA, and VA, as well as HELOC, HARP, Conventional, and Jumbo loans. They also assist first-time homebuyers and offer credit rescore, reverse mortgages, and DSCR programs. The firm is certified by NMLS.

  • New Construction

45 Sterling St, West Boylston, MA 01583
WebsiteLicense: 2897

Expertise.com Rating

Review Sources

Facebook
5.0 (9)
Google
5.0 (7)

Why choose this provider?

Wachusett Mortgage Corporation is a locally owned brokerage that caters to the needs of individuals in Worcester. It assists clients looking to refinance loans to consolidate debt, educating them on ever-changing mortgage rates. Its team helps clients select from different programs, including conventional, jumbo, and fixed- and adjustable-rate loans. Other products include reverse mortgages, USDA rural development, and FHA 203(k) loans. Wachusett Mortgage Corporation, which started operating in 1992, has access to products from national, regional, and local lenders. It is an NAMB member.

  • New Construction
  • 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.
  • What is cash-out refinancing, and how can homeowners in Worcester use it?

    Cash-out refinancing allows Worcester homeowners to secure funds exceeding their current mortgage's outstanding balance, acquiring the difference in liquid assets. This supplementary capital is commonly deployed for discharging obligations such as educational and vehicular financing, conducting residential enhancements, buying a fresh car, defraying university expenses, obtaining an additional dwelling, or engaging in financial ventures.

  • Why might Worcester residents consider refinancing their current debt?

    People in Worcester may think of refinancing their current debt as a means to alter existing obligations under more agreeable terms, typically decreasing interest rates or hastening payoff. Even as it usually renders loans more attainable, one must weigh the potentially elevated rates linked to housing and vehicle loans, plus the chance of prepayment fees that may undercut the benefits of such financial restructuring.

  • What must property owners in Worcester do before deciding to refinance their mortgage?

    Property owners in Worcester must evaluate their objectives to determine if a mortgage refinance is the best solution for them. Whether the aim is to reduce the monthly bills, pull funds from the property's value for upgrades or merge debts, or even fix a fluctuating interest rate, a careful assessment of the available lending options is essential. This review assists them in finding the financial solution that most closely aligns with their needs.

  • In Worcester, who stands to benefit most from pursuing an FHA streamline refinance?

    Worcester homeowners with an FHA loan at a rate above current market levels should contemplate an FHA streamline refinance. They might find a conventional loan more appealing if the existing loan's balance is beneath 80% of the property's worth. Choosing this path could lead to considerable savings on mortgage insurance premiums, providing a potentially more economical option.

  • Who in Worcester is eligible for VA-endorsed home refinancing options?

    In Worcester, military service members, veterans, and qualifying widowed partners have access to VA-endorsed home refinancing options. Local financial institutions present these opportunities, allowing the potential to decrease recurring payments or access home equity. The VA facilitates both complete withdrawal and efficient refinance routes. Through these channels, Worcester's military community can obtain advantageous refinance conditions to achieve housing aspirations.

  • 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.