Best Mortgage Refinance Companies in Rochester

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Jason Griggs logo

Jason Griggs

2689 Commerce Dr. NW, Rochester, MN 55901
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  • Reverse Mortgages

Jason Griggs is a senior mortgage loan officer who serves clients in Rochester and the surrounding areas. He guides individuals in refinancing their current mortgage plans. Griggs also helps them apply for loan programs to purchase residential properties, including condo units, townhouses, and single-family homes. He assists them in identifying loan options suitable for their payment range ad financial goals. Griggs brings two decades of experience guiding individuals and their families in the mortgage home purchasing process.

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Premier Mortgage of Rochester logo

Premier Mortgage of Rochester

2460 North Broadway Ave, Rochester, MN 55906
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  • New Construction

Premier Mortgage of Rochester is a locally owned and operated mortgage brokerage firm. The firm has been providing home loan services for over 20 years, specializing in the purchase and refinance of any Minnesota residential property. Its loan programs include fixed-rate, adjustable-rate mortgage (ARM), and hybrid ARMs, and USDA, FHA, VA, and conventional loans. Premier Mortgage of Rochester's loan officers help clients secure competitive mortgages by conducting localized internet searches and employing mortgage processing software and underwriting systems.

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PrimeLending Twin Cities logo

PrimeLending Twin Cities

4115 26th St NW #103, Rochester, MN 55901
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  • Reverse Mortgages

PrimeLending Twin Cities is a team of loan professionals serving Rochester. They offer various products, including refinancing programs and renovation loans. The mortgage advisors also provide first-time homebuyer programs, which come in adjustable- and fixed-rate options. They assist clients throughout the loan process, from underwriting to closing. In addition, niche programs such as VA’s IRRRL, Freddie Mac Home Possible, and manufactured housing and condominium loans are available. PrimeLending Twin Cities also has locations in Maple Grove and Bloomington.

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PrimeSource Funding, Inc. Rochester logo

PrimeSource Funding, Inc. Rochester

2876 Superior Drive NW Suite 102, Rochester, MN 55901
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  • New Construction
  • Reverse Mortgages

PrimeSource Funding, Inc., caters to clients in Rochester. Its team has over 90 years of experience in the mortgage industry. The company advises borrowers looking to refinance an existing mortgage, whether their goal is to reduce interest rates, lower monthly payments, shorten the loan term, or pull out cash to settle other debts. It also helps families achieve their homeownership goals through FHA, VA, and USDA loan programs. PrimeSource Funding was voted the favorite mortgage lender in Rochester at the KTTC Fan Favorites 2021 and 2022.

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Frequently Asked Questions

Q: What should you expect when refinancing a mortgage?

A: 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.

Q: How often should you refinance your mortgage?

A: 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.

Q: Can you refinance a first mortgage and not a second?

A: 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.

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