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Best Mortgage Refinance Companies in Bloomington

2024

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Providers

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Website
2523 S. Wayzata Blvd. Ste 200, Minneapolis, MN 55405
  • New Construction
  • Reverse Mortgages

Why choose this provider?

Luminate Home Loans caters to clients in Bloomington and the surrounding areas. It helps individuals and families who want to maximize their monthly savings by getting a refinance loan. This permits homeowners to adjust term length and interest rates, consolidate loans, and cash out equity for home improvement needs. The company's mortgage specialists assist clients in determining their loan eligibility and give advice on whether refinancing is appropriate for their particular circumstances. Luminate Home Loans has been in operation since 1998.

License Verified:

License: 150953

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.
4.9
Google
4.9 / 5 (232)
Facebook
4.6 / 5 (34)
Yelp
5.0 / 5 (2)

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.
3.8
Responsiveness
Friendliness
Helpfulness
Detail
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Website
434 Hale Avenue Suite 100, Oakdale, MN 55128
  • Reverse Mortgages

Why choose this provider?

Quintin Jacobson is a loan officer who serves individuals and families in and around Bloomington. He helps homeowners and investors refinance their loans to obtain better terms and interest rates. He also caters to first-time buyers who need assistance in filing loan applications. The professional processes different types of mortgage products, such as fixed-rate and adjustable-rate, jumbo, USDA, FHA, VA, and DPA loans. Jacobson has been in the mortgage services industry for more than 25 years.

License Verified:

License: 452471

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.
4.8
Facebook
4.8 / 5 (322)
Google
5.0 / 5 (18)

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
7301 Ohms Lane, Suite 190, Edina, MN 55439
  • New Construction
  • Reverse Mortgages

Why choose this provider?

The Dream Team serves clients in Bloomington who need to fund home purchases or refinance existing obligations. The team has conventional and FHA-backed options for homebuyers who have decent or suboptimal credit scores. It has refinancing processes that convert pre-existing obligations into less burdensome forms. The crew operates under the Supreme Lending banner and delivers the latter's RefiNow! program aimed at low-income borrowers. The Dream Team has more than 15 years of combined lending sector experience.

License Verified:

License: 2034009

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

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
8120 Penn Ave S, Bloomington, MN 55431
  • New Construction

Why choose this provider?

MinnTrust Mortgage, LLC works with Bloomington homeowners to refinance their mortgages. It aims to meet a variety of refinancing objectives, such as switching from an ARM to an FRM, shortening loan terms, and lowering interest rates. Its loan officers also assist customers looking for home equity and reverse mortgage loans. They assess the homeowner's situation and advise them on suitable options, allowing them to choose a new mortgage. In addition, MinnTrust Mortgage provides home and commercial purchase loans, including construction, Jumbo, FHA, and VA loans.

License Verified:

License: 1481553

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
Facebook
4.6 / 5 (11)
Google
4.6 / 5 (9)

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
6800 France Ave S Ste 655, Edina, MN 55435
  • New Construction

Why choose this provider?

Edina Realty Mortgage is a full-service banker delivering refinancing solutions to homeowners in the Bloomington area. Its mortgage consultants guide borrowers in making major refinancing decisions to secure lower rates, change loan terms, or cash out. By comparing options and providing financial strategies, they help clients who have preliminary approval and are seeking a second opinion. The company was established in 1983 and has a multi-state reach extending to Wisconsin, South Dakota, Michigan, and North Dakota.

License Verified:

License: 75164

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.
4.9
Google
4.9 / 5 (36)
Facebook
5.0 / 5 (18)
Yelp
3.5 / 5 (3)

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.
3.8
Responsiveness
Friendliness
Helpfulness
Detail
––

Website
7760 France Ave. S, Suite 1010, Bloomington, MN 55435
  • New Construction

Why choose this provider?

For over 25 years, Leslie Vanderwerf has been in the home financing business serving homebuyers and borrowers in Bloomington. She represents Cross County Mortgage, which is licensed in 50 states, as a senior loan officer in presenting purchase and refinancing solutions that fit clients' goals and circumstances. She assists individuals needing reduced interest rates, shortened terms, consolidated debts, and extra cash for college tuition and other emergencies. Vanderwerf offers conventional, VA’s interest rate reduction, FHA 203K, USDA Rural, and streamline refinance loans.

License Verified:

License: 335509

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

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.
3.8
Responsiveness
Friendliness
Helpfulness
Detail
––

Website
13963 W Preserve Blvd, Suite 200, Burnsville, MN 55337
  • Multi-Family Loans

Why choose this provider?

Kristi Piatz is a mortgage loan officer serving Bloomington. She has been in the industry since 2002 and works under Summit Mortgage Corporation, helping people refinance or purchase their first or third homes, vacation houses, and investment properties. Her refinancing options help borrowers lower their interest rates and remove PMI from their FHA loans. She also offers cash-out refinance options that allow customers to combine a first and second mortgage, perform home improvements, and pay off tax liens.

License Verified:

License: 452537

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 (183)
Facebook
4.9 / 5 (26)

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.
  • Is it easy to qualify for a fixed-rate mortgage in Bloomington?

    Yes. Qualifying for a fixed-rate mortgage in Bloomington is easy because lenders only calculate the income-to-debt ratio of individuals who want to apply. Through this, lenders can determine if you can make payments. They also check employment histories and if borrowers have good credit. If borrowers have higher than 720 points, they can apply for a conventional fixed rate.

  • In Bloomington, what is the difference between a home equity conversion mortgage and a reverse mortgage?

    A home equity conversion mortgage is insured by FHA in Bloomington. It allows individuals age 62 and older to take a portion of the equity of their homes. Meanwhile, a reverse mortgage is a propriety product of an investor. This loan is offered to individuals aged 60 and older. The biggest difference between the two is that a home equity conversion mortgage follows a $822,375 claim amount, while a reverse mortgage has up to a $4 million loan amount.

  • What properties qualify for Home Equity Conversion Mortgage in Bloomington?

    The types of properties considered for a home equity conversion mortgage in Bloomington are single-family homes, FHA-approved condominiums, two- to four-unit homes, and manufactured houses that must be built on a permanent foundation. These properties must follow FHA standards and be occupied as primary residences of individuals aged 62 and older.

  • Can you take out cash from a rate and term refinance loan in Bloomington?

    No. You cannot take out cash from a rate and term refinance in Bloomington because this type of loan only allows individuals to change the rate or term of their mortgage. If you want to have cash on hand, you may apply for a cash-out refinance. Through this, you can pay tuition fees and tax liens, as well as make home improvements and fund a large purchase.

  • Is it possible for lending companies to refinance affordable housing in Bloomington?

    Yes. Lending companies can refinance affordable housing in Bloomington through a Freddie Mac affordable loan. This type of loan has a two-year forward period and an 18-year fixed rate term with a 40-year amortization. It also helps housing developers secure long-term exit financing for their tax-credit construction projects.

  • 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.