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Best Mortgage Refinance Companies in Silver Spring

2024

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Website
12501 Prosperity Dr Suite 430, Silver Spring, MD 20904
  • New Construction

Why choose this provider?

Advanced Mortgage LLC serves clients in Silver Spring and nearby areas. It helps homeowners pay off their current loans and apply for a new mortgage by offering refinancing options. These allow clients to take advantage of lower interest rates, consolidate debts, reduce their monthly payments, and obtain cash from their home's equity. The firm's other loan programs include adjustable-rate, conventional fixed-rate, jumbo, FHA, VA, and reverse mortgages. Charles M. Bucklin, the firm's president, is a member of the Maryland Mortgage Bankers and Brokers Association.

License Verified:

License: 460665

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
Facebook
5.0 / 5 (6)
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
3401 Oberon St, Kensington, MD 20895
  • New Construction

Why choose this provider?

LendSolid guides Silver Spring residents through the home buying process. By way of refinancing, the mortgage brokerage firm helps borrowers change their loan terms, consolidate debts, reduce interest rates and monthly payments, or use their homes’ equity to get cash. It reviews the benefits and costs to determine the mortgage solution for clients’ situations. Senior loan officer Craig Plucinski utilizes over 15 years of experience in customer service and management to assist homebuyers with their financing needs. LendSolid supports the community through charitable giving.

License Verified:

License: 1675271

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.
4.4
Google
4.4 / 5 (7)

Website
12123 Heritage Park Circle, Silver Spring, MD 20906

Why choose this provider?

1Rate is a Silver Spring-based business that deals with clients throughout the metro. It works with homeowners seeking to refinance their loans and helps them modify their loan terms, lower their interest rates, or tap into their property's equity. The company also combines multiple mortgages into one loan to provide a way for property owners to minimize their payments. It deals with other clients—like first-time homebuyers—and offers a range of mortgage solutions, from VA to FHA programs.

License Verified:

License: 1948084

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 (124)

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
13821 Mills Avenue, Silver Spring, MD 20904
  • New Construction

Why choose this provider?

Since 1991, Kerins Associates, Inc., has been helping Silver Spring families meet their personal and financial goals through mortgage planning strategies. It provides VA Streamline option for people seeking to refinance their existing loans. Owner Kathleen Kerins offers different programs, such as conventional, FHA, and jumbo loans and incorporates charts and graphs to show clients the advantages of each option. She is also a VA military loan specialist. The company submits loans upon contract ratification and strives to close them in an average of 13 to 20 days.

License Verified:

License: 211227

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 (85)
Facebook
5.0 / 5 (8)
Yelp
5.0 / 5 (1)

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
7910 Woodmont Ave Suite 1330, Bethesda, MD 20814
  • New Construction
  • Reverse Mortgages

Why choose this provider?

Rob Mercer has been serving the real estate needs of families and individuals for more than three decades. He is a mortgage originator who provides refinancing solutions to Silver Spring residents who want to purchase residential properties. He helps clients improve their current mortgages, lower interest rates and monthly payments, and convert homes' equity into cash. The agent also processes conventional, first-time homebuyer, VA, and FHA loans. Mercer has been a part of First Home Mortgage since 2007.

License Verified:

License: 147453

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
Facebook
5.0 / 5 (49)
Google
5.0 / 5 (28)
Yelp
5.0 / 5 (14)

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
7200 Wisconsin Avenue, #500, Bethesda, MD 20814
  • New Construction
  • Reverse Mortgages

Why choose this provider?

Paradigm Mortgage Services, Inc. serves Silver Spring and the surrounding communities. The business provides refinancing solutions to individuals and families who need to consolidate their debt or obtain funds for home renovation. It offers FHA and VA loans and reverse mortgages. The team provides a good home purchasing and refinancing experience by evaluating the individual financial circumstances of each client. Founder Bill Van Dyke opened the company through the encouragement of his friend in 1991.

License Verified:

License: 205094

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.
4.6
Google
4.2 / 5 (5)
Facebook
5.0 / 5 (5)

Website
8555 16th. St, Suite 603, Silver Spring, MD 20910
  • New Construction

Why choose this provider?

Fairway Asset Corporation serves clients throughout Silver Spring. The company investigates the eligibility of homeowners involving the Home Affordable Refinance Program to help them fulfill a variety of financial goals, from reduced interest rates to lowered monthly payments. It has experience modifying the terms of Freddie Mac or Fannie Mae-guaranteed mortgages. The company has also offered specialized loans for foreign nationals seeking to acquire real estate in the United States. It provides other financing solutions from the USDA and VA.

License Verified:

License: 293044

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 (1)

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.
  • Can refinancing a mortgage in Sliver Spring help a borrower pay for college?

    Yes, refinancing a mortgage in Silver Spring can help a borrower pay for college. The debtor has to choose a cash-out refinance option, where the built-up equity of a house is used as collateral to obtain a new loan. The difference between the old home equity and the new one would be used to pay for higher learning.

  • When refinancing in Silver Spring, what are the differences in requirements between a conventional mortgage and an FHA Loan?

    When refinancing in Silver Spring the biggest difference in the requirements between a conventional mortgage and an FHA loan is that the latter requires a lower credit score of around 500, while the former requires 620. Conventional options want a debt-to-income ratio of 43% or below, while the FHA route permits values reaching 50%.

  • How should mortgage holders in Silver Spring use online tools when refinancing a home?

    Mortgage holders in Silver Spring who are considering refinancing could use online tools as a preliminary source of information when choosing which new loan to get. There is ultimately no complete substitute for consulting a human broker or seller, but technology may be used as a starting point for research.

  • Does reducing the term of a mortgage always translate to dramatically increased monthly payments in Silver Spring?

    While reducing the length of a mortgage in Silver Spring will generally cause an increase in monthly rates to compensate, this is not always excessive. Significant changes in the economy or one's credit score could cause the new monthly dues to still be manageable after a new loan is taken out to replace an older one.

  • Why is it advantageous to work with a mortgage broker in Silver Spring instead of going directly to the bank?

    Working with a mortgage broker in Silver Spring is advantageous over going straight to the bank because a broker can look at multiple options, while a bank will be restricted to its own products. The human expert will examine each choice to determine the preferable rates and terms that a refinance seeker in the metro will need.

  • 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.