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Best Mortgage Refinance Companies in Minneapolis

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Angie Sherer logo
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License: 373912

Nationwide Multistate Licensing System and Registry

Angie Sherer

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

Business Description

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.

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License: 373912

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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)
Brad Dale logo
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License: 164040

Nationwide Multistate Licensing System and Registry

Brad Dale

333 North Washington Avenue, Minneapolis, MN 55401
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  • Reverse Mortgages
  • NMLS #: 39166

Business Description

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.

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License: 164040

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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
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5.0 / 5 (22)
Chris O'Connell logo
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License: 869563

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Chris O'Connell

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

Business Description

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.

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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

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We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
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Conor Hesch logo
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License: 3597

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Conor Hesch

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

Business Description

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.

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License: 3597

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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 (104)
Gold Star Mortgage Financial Group logo
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License: 3446

Nationwide Multistate Licensing System and Registry

Gold Star Mortgage Financial Group

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

Business Description

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.

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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
3.5 / 5 (3)

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We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
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iLoan logo
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License: 4474

Nationwide Multistate Licensing System and Registry

iLoan

209 Snelling Ave N, St Paul, MN 55104
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Business Description

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.

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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
Facebook
4.5 / 5 (57)

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Luminate logo
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License: 150953

Nationwide Multistate Licensing System and Registry

Luminate

2523 S. Wayzata Blvd. Ste 200, Minneapolis, MN 55405
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Business Description

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.

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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
4.9 / 5 (211)
Facebook
4.6 / 5 (29)
Yelp
5.0 / 5 (2)

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We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
4.0
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Luminate Home Loans logo
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License: 150953

Nationwide Multistate Licensing System and Registry

Luminate Home Loans

700 Washington Ave. N, Minneapolis, MN 55401
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  • Reverse Mortgages

Business Description

Luminate Home Loans, which has been in the industry for over 15 years, caters to clients in the Minneapolis area and surrounding communities. The company offers mortgage lending for new homes and refinancing properties. Clients from different backgrounds are offered a variety of loan options to choose from, such as conventional, FHA, veteran, and USDA. Luminate Home Loans' Ellingson team has a combined experience of more than 30 years, and is one of over 18 offices throughout the country.

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 (211)
Facebook
5.0 / 5 (31)

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
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M&M Mortgage logo
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License: 213677

Nationwide Multistate Licensing System and Registry

M&M Mortgage

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

Business Description

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 (519)

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
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Minnesota Residential Mortgage, Inc. logo
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License: 259460

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Minnesota Residential Mortgage, Inc.

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

Business Description

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.

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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.
5.0
Google
5.0 / 5 (50)

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
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My City Mortgage powered my Hometown Lenders logo
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License: 194821

Nationwide Multistate Licensing System and Registry

My City Mortgage powered my Hometown Lenders

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

Business Description

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.
5.0
Google
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.
5.0
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Paramount Residential Mortgage Group, Inc. logo
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License: 75243

Nationwide Multistate Licensing System and Registry

Paramount Residential Mortgage Group, Inc.

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

Business Description

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 (121)
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
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Progressive Lending Solutions logo
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License Verified:

License: 107620

Nationwide Multistate Licensing System and Registry

Progressive Lending Solutions

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

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
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Propel Home Loans logo
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License Verified:

License: 1776385

Nationwide Multistate Licensing System and Registry

Propel Home Loans

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

Business Description

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 (71)
Facebook
5.0 / 5 (17)
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.
5.0
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Rainbow Mortgage Inc. logo
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License Verified:

License: 345827

Nationwide Multistate Licensing System and Registry

Rainbow Mortgage Inc.

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

Business Description

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 (162)

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
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Back to Providers

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.

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.

How does mortgage refinance work?

The mortgage refinance process begins with choosing a broker and filling out loan application information. The process continues through underwriting and closing. The new mortgage is then used to pay off and close your original mortgage loan. This leaves you with a new loan and mortgage payment to manage each month.

When should you refinance a mortgage?

If your credit score has improved or mortgage interest rates have dropped, refinancing can potentially save you money. Other reasons to refinance your mortgage include getting a fixed rate instead of an adjustable one or getting a shorter loan term. An increase in your home’s value that can let you access more equity is another reason to refinance.

How much does it cost to refinance a mortgage?

The average cost to refinance a mortgage is $5,000. This amount varies, based on the state and county where the property is located and the loan amount. Common fees incurred when refinancing a mortgage include:

  • Appraisal fee
  • Broker’s fee
  • Credit check fee
  • Loan application fee
  • Recording fee
  • Title search and insurance fee

How soon can you refinance a mortgage?

Some lenders make borrowers wait a minimum of six months before accepting a new mortgage refinancing application. However, when that happens, borrowers can check with other lenders to find one that doesn’t require a wait before refinancing. A mortgage refinance broker can guide you to lenders that allow immediate refinancing.

How long does it take to refinance a mortgage?

The average amount of time it takes to refinance a mortgage is 45 days. In some cases, it may be possible to get it done faster. There also may be times when it takes longer to get a mortgage refinanced.

What is the average closing cost to refinance a mortgage?

The average closing cost when refinancing a mortgage is $4,345. Closing costs may be much higher or lower depending on the amount of money borrowed. If you see an ad that says there are no closing costs, the costs are factored in elsewhere in the terms of the loan.

How often can you refinance a mortgage?

You can refinance a mortgage as often as you like, however, if you refinance frequently, it can cost more in fees than you save on interest. Some reasons for refinancing repeatedly include a sharp drop in interest rates or going through a life event, such as a divorce.

When is it worth it to refinance a mortgage?

It’s worth it to refinance when interest rates drop and refinancing will save you money. It also may be worth refinancing if you need to access some of your home’s equity to cover other expenses. Refinancing may be worthwhile if you're switching from a variable to a fixed rate mortgage.

Can you refinance a mortgage with no closing costs?

You can refinance a mortgage without paying closing costs at the time. However, those costs are still owed and are factored in elsewhere in the financing. Lenders either add the costs to the principal owed or increase the interest rate on your refinanced mortgage loan.

Can you refinance a home equity loan into a mortgage?

You can refinance a home equity loan into a mortgage in some situations. You have to have excellent credit to do this. Additionally, you must have enough equity in your home to qualify for a new mortgage that pays off the existing mortgage and your home equity loan.

Can you refinance a mortgage without a job?

In some situations, you can refinance your mortgage if you don't have a job. It depends on the lender, because some will allow it and others won’t. A qualified mortgage refinance broker can help connect you with lenders that consider your situation. You have to submit documentation about your unemployment and the income you have.

Can you refinance a mortgage with bad credit?

It’s possible to refinance a mortgage if you have bad credit. If your payment record with your current lender is good, you can discuss refinancing with that lender. You may also be able to refinance a mortgage by going through a government-backed lender, such as the USDA or FHA.

Can you refinance a second mortgage?

It’s possible to refinance a second mortgage. If your credit score improves or interest rates drop, refinancing a second mortgage may save you money. Either of these situations can provide a way for you to get a lower interest rate. Refinancing a second mortgage can also sometimes shorten your loan repayment period.

Can you refinance a first mortgage and not a second?

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.

How often should you refinance your mortgage?

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.

What should you expect when refinancing a mortgage?

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.

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