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Best Mortgage Refinance Companies in Minneapolis

2024

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Providers

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Website
2523 S. Wayzata Blvd. Ste 200, Minneapolis, MN 55405

Why choose this provider?

Luminate provides mortgage refinancing services to the Minneapolis metro and the neighboring areas. It assists individuals who wish to refinance their current loan programs to reduce their rates and improve their savings. The company's team also provides services to first-time homebuyers wanting to purchase residential properties using different mortgage loan programs, including USDA, VA, FHA, and conventional. One of its mortgage loan originators, Adam Long, has over a decade of experience in the lending industry.

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.
4.8
Google
4.8 / 5 (268)
Facebook
4.6 / 5 (60)
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
––

Website
8400 Normandale Lake Blvd Suite 920, Minneapolis, MN 55437
  • Reverse Mortgages

Why choose this provider?

Propel Home Loans is a mortgage brokerage firm that caters to the needs of homebuyers in Minneapolis. The firm performs customized services for a variety of home financing options such as USDA loans, FHA home loans, and fixed-rate mortgages. With over 20 years of industry experience, its professionals advise clients on suitable mortgage refinancing programs and guide them during the loan process. Propel Home Loans has received several awards including Minnesota Monthly's Best Mortgage Professionals for 2017 to 2021.

License Verified:

License: 1776385

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 (82)
Facebook
5.0 / 5 (29)
Yelp
5.0 / 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.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
1700 West Highway 36, Roseville, MN 55113
  • Reverse Mortgages

Why choose this provider?

M&M Mortgage is a locally owned and locally operated company that serves individuals and families in Minneapolis and the surrounding communities. It assists in mortgage refinancing to lower monthly payments, obtain lower interest rates, get a home equity line of credit, or cash out. It offers a variety of loan programs, such as FHA 203(k), VA, conventional, jumbo, HARP 2.0, and fixed and adjustable. M&M Mortgage brings over 50 years of experience in the industry and is a member of the Minnesota Mortgage Association.

License Verified:

License: 213677

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 (617)
Facebook
4.9 / 5 (373)
Yelp
3.2 / 5 (15)

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
3300 Edinborough Way Suite 550, Edina, MN 55435
  • Reverse Mortgages
  • New Construction

Why choose this provider?

Rainbow Mortgage Inc. is a local, female-owned, veteran-operated brokerage. It offers home loans and refinancing options to individuals and families in Minneapolis. It also guides clients on mortgages after divorce. In addition, the company provides assistance with FHA, VA, and USDA loans. Rainbow Mortgage is a veteran's loan specialist certified by the National Association of Mortgage Brokers and is a partner of United Wholesale Mortgage. The company supports the Equal Opportunity Housing Program of the U.S. government. It was launched in 1999.

License Verified:

License: 345827

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 (177)

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
209 Snelling Ave N, St Paul, MN 55104
  • Multi-Family Loans
  • New Construction

Why choose this provider?

iLoan extends its mortgage services to clients in Minneapolis. It provides refinancing solutions through home affordable and streamlined FHA and VA IRRRL programs. Its representatives walk property buyers through the process and give them various loan amortization period options, ranging from 10 to 40 years. They also offer customized programs like fixed-rate, jumbo, reverse, energy-efficient, and temporary buydown mortgages. As a way of giving back to the community, iLoan donates a portion of its profits to charities related to public schools and housing.

License Verified:

License: 4474

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
2636 Ridge Lane, Mounds View, MN 55112
  • Reverse Mortgages

Why choose this provider?

Minnesota Residential Mortgage, Inc., is a team of loan specialists serving Minneapolis and the surrounding locations. They help clients refinance mortgages, whether to lower their monthly payments or cash out from home equity. They also guide clients through the process of applying and qualifying for conventional, investor, and jumbo loans. Additionally, they offer government-backed mortgage programs such as FHA and VA. Minnesota Residential Mortgage is headed by Rich Kusick, who has been working in the industry for over 25 years.

License Verified:

License: 259460

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
5.0 / 5 (53)
Facebook
4.6 / 5 (11)

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
8400 Normandale Lake Blvd, Minneapolis, MN 55437
  • New Construction

Why choose this provider?

Paramount Residential Mortgage Group, Inc., offers its services to individuals in the Minneapolis area. It helps customers purchase and refinance their homes. Its team assists clients by finding a loan that suits their financial situation. The company offers various VA, FHA, and USDA products. It also provides HomeStyle Renovation and Home Possible loan programs. In addition, the company offers underwriting and in-house processing services. The company has been operating for over a decade and has more than 150 branches located across the country.

License Verified:

License: 75243

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 (122)
Yelp
1.0 / 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
333 North Washington Avenue, Minneapolis, MN 55401
  • Reverse Mortgages
  • NMLS #: 39166

Why choose this provider?

Brad Dale is a mortgage professional representing Cherry Creek Mortgage in Minneapolis who counsels clients looking to refinance their mortgages or apply for residential property loans. He has been in the mortgage industry since 1993 and has been working with the company since 2004. Brad is an NMLS certified loan specialist that assists clients in applying for conventional loans, government loans, and jumbo loans for executing mortgage strategies such as mortgage reductions and equity cash-outs.

License Verified:

License: 164040

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 (55)
Yelp
5.0 / 5 (22)

Website
7505 Metro Boulevard, Minneapolis, MN 55439
  • Reverse Mortgages
  • NMLS #: 39166

Why choose this provider?

Angie Sherer is a mortgage loan officer connected with Luminate Home Loans that serves clients in Minneapolis and nearby communities. Sherer helps homeowners save money through refinancing to lower interest rates, reduce monthly payments, or shorten the terms of their mortgages. She also assists prospective homeowners in securing home financing and works with homeowners wanting to cash out from their home equity. The loan options include conventional loans and FHA loans. Sherer has been in the industry for more than 10 years.

License Verified:

License: 373912

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 (145)
Facebook
4.9 / 5 (129)
Yelp
5.0 / 5 (2)

Website
7655 Washington Ave. S, Edina, MN 55439
  • Reverse Mortgages

Why choose this provider?

Hometown Lenders Edina Branch is a local mortgage brokerage firm serving clients in Minneapolis. It assists individuals seeking to refinance their current mortgages for various purposes. These include lowering payments, cashing out equity, renegotiating loan terms, and consolidating debts. Its officers work with borrowers to find loan programs tailored to their specific needs. There are also mortgage products available for first-time homebuyers, such as conventional, VA, and USDA loans. Hometown Lenders has been helping people get financing since 2000.

License Verified:

License: 194821

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
Google
4.8 / 5 (85)

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
2277 West Highway 36, Suite 304, Roseville, MN 55113

Why choose this provider?

Progressive Lending Solutions is a full-service mortgage company that serves clients in Minneapolis and its nearby areas. It helps homebuyers choose from a variety of mortgage financing programs, such as conventional fixed-rate, FHA, USDA, and adjustable-rate loans. Its mortgage specialists educate clients on financial markets, assess individual mortgage needs, and help homeowners refinance their mortgage loans. Progressive Lending Solutions also provides specialized services for needs such as pre-foreclosure, bad credit, and debt consolidation.

License Verified:

License: 107620

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 (57)
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
5500 Wayzata Blvd., Suite 300, Minneapolis, MN 55416
  • Reverse Mortgages

Why choose this provider?

Conor Hesch is a senior mortgage loan officer with Bell Bank Mortgage who caters to clients in and around the Minneapolis area. Conor offers refinancing options where clients can tap equity to remodel. He also offers a wide variety of loan options for first-time homebuyers, move-up buyers, and veterans, covering properties types like new construction, vacation homes, and downsized assets. Conor specializes in formulating strategies to avoid long-term private mortgage insurance. He is a Platinum Club member of Bell Bank Mortgage.

License Verified:

License: 3597

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 (115)

Website
5251 Chicago Avenue South, Minneapolis, MN 55417
  • Reverse Mortgages

Why choose this provider?

Chris O'Connell is a Minneapolis -based mortgage loan officer for Cardinal Financial Company, a mortgage lending company operating since 1987. He has more than a decade of experience assisting individuals and families in their journey of homeownership. O'Connell caters to clients who are either purchasing a home or refinancing an existing mortgage to lower monthly payments and cash out for renovations. The refinance loan options he offers are cash-out, home equity, streamline FHA, streamline VA, and CEMA.

License Verified:

License: 869563

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 (24)

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
333 N. Washington Ave #101, Minneapolis, MN 55401
  • Reverse Mortgages

Why choose this provider?

Gold Star Mortgage Financial Group offers refinancing services to property owners in Minneapolis. It assists clients with refinancing without an appraisal or out of an adjustable-rate mortgage. The company also helps with obtaining low-interest rates and reducing mortgage payments. Its team of loan officers refinances to FHA, VA, and Jumbo loans, FHA Streamline, and 15- or 30-year fixed mortgages. Other loan programs offered include reverse mortgages, USDA rural development loans, condo financing, and down payment assistance.

License Verified:

License: 3446

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.
4.5
Google
4.6 / 5 (21)
Yelp
3.7 / 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.
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.
  • What can you do after getting disapproved for refinancing in Minneapolis?

    Check with your lender to see if they sent you a written explanation of why your refinancing application was denied. You can apply to another lender or look into the issues mentioned in the rejection letter and try to resolve them. If you were rejected because you owed a lot of money, you can reapply once your financial situation improves. If you have a home equity problem, you can apply for the Home Affordable Refinance Program in Minneapolis.

  • Do you have to be a borrower of Minnesota Housing to apply for refinancing under the Step Up program in Minneapolis?

    No. You do not have to be a current borrower. However, you must meet certain criteria, such as an income limit, minimum credit scores, and loan amount allowable. You will have access to a Monthly Payment Loan through the Step Up program, which may cover closing costs. To find an approved lender in Minneapolis, go to the Minnesota Housing website.

  • Should you refinance to pay high-interest credit card debts in Minneapolis?

    Experts advise against converting an unsecured debt, such as credit card bills, to a secured debt, such as a mortgage. This is due to the fact that secured debts typically require collateral, such as mortgaged property, which can be seized if the borrower fails to pay. If Minneapolis borrowers have an unsecured debt, they can be sued to be compelled to pay, but their homes cannot be seized under the law.

  • Are there mortgage programs beneficial to first responders in Minneapolis?

    In Minneapolis, first responders can take advantage of the HUD's Good Neighbor Next Door Sales Program. They can be EMTs, firefighters, or 911 operators. They can get a 50% discount on the listing price or pay a lower down payment, some as low as $100, under the program. However, refinancing this loan may be difficult. HUD may agree only if you apply for a lower interest rate or an FHA 203(k) loan.

  • Why should you avoid an adjustable-rate mortgage in Minneapolis?

    The issue with adjustable-rate mortgages (ARMs) is that they are only low for a few years before rising to levels that are unaffordable. Loan officers may advise you to obtain an ARM and then refinance to a different loan later, but there is no guarantee that your refinance will be approved or that you will receive a better rate. You must also pay additional refinancing fees in Minneapolis.

  • 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.