Best Mortgage Refinance Companies 2022
WES KLECKLEY MORTGAGE TEAM
Wes Kleckley is a mortgage banker who offers mortgage refinance programs to clients throughout the San Antonio metro area. He works for InterLinc Mortgage Services, LLC, in guiding property buyers to select the right mortgage loans with the best interest rates. He handles a wide range of programs such as USDA, FHA, VA, jumbo, manufactured housing, and renovation loans. Kleckley has been recognized by the SA Business Journal as a top loan officer in 2018.
Cary Reeves
Cary Reeves is a residential mortgage loan officer who serves aspiring homeowners in San Antonio. He offers several loan solutions to meet the unique needs of each client. For individuals who want to buy a home, FHA and jumbo loans are available. He also offers VA, USDA, and conforming loans for those who need help with refinancing. Fixed, adjustable-rate, and reverse mortgages are available. Reeves has been helping families accomplish their dream of homeownership since 2013.
San Antonio Mortgage
San Antonio Mortgage caters to customers in the metro and the neighboring communities. It offers various types of loan programs for home mortgages that include low down payment and very high-value loans. The company addresses the needs of different customers and guides them from application up to closing. It provides loan programs such as FHA, foreign national, adjustable-rate, USDA, jumbo, and VA loans. San Antonio Mortgage has been offering services since 1987.
Gold Financial Services
Gold Financial Services is a San Antonio-based firm that provides a variety of residential mortgage products. Since 1998, its team of loan officers has been guiding clients throughout the mortgage refinancing process, from performing underwriting assessments to handling closing procedures. They offer various loan types, such as VA, FHA, USDA, and conventional loan options. Gold Financial Services has online mortgage calculators, allowing clients to make the necessary computations regarding their amortization and monthly mortgage payments.
Mortgage Financial Services
Mortgage Financial Services is an independent lending company based in San Antonio. It works with people planning to purchase their first homes or second investment properties, individuals who need down payment assistance, and borrowers who wish to refinance their current home loans. Clients can choose from different loan options, including FHA, VA, jumbo, and fixed-rate mortgages. They can also consult the firm's specialists if they need assistance figuring out which refinance or new loan plan suits their needs.
Pinnacle Mortgage and Lending
Pinnacle Mortgage and Lending caters to homebuyers in San Antonio and the surrounding areas. Its real estate brokers educate clients to make informed decisions on the right mortgage programs for their home buying or refinancing needs. Their refinance options include FHA and VA streamline, conventional, jumbo, and home equity mortgage, which allows customers to take some cash out or get a better rate and term. They assist buyers or owners of various types of residential properties, including single- and multi-family homes, condominiums, townhouses, and manufactured homes.
Vision Mortgage Company, Ltd.
Vision Mortgage Company, Ltd., caters to clients in San Antonio and the surrounding communities. The company opened its doors to the community in 1997, working with individuals looking to refinance their mortgage or purchase a property. It offers home and cash-out refinance, reverse mortgages, and home construction loans. Its professionals assist clients in the refinancing process by walking them through home equity, VA and FHA refinance, and liens and judgments. Its owner, Armando Barbosa, holds over 30 years of mortgage experience.
Smart Rate Mortgage Brokers
Smart Rate Mortgage Brokers offers loan programs for homeowners and homebuyers in and around San Antonio. It provides home refinance loans such as fixed- and adjustable-rate mortgages for homeowners looking to obtain cash from their home equity, change mortgage terms, or lower interest rates. It also offers assistance in applying for government-backed loans such as USDA, FHA, and VA. Its mortgage broker, Fred Camarillo, has nearly two decades of industry experience. He also speaks Spanish fluently.
April Raynor
April Raynor is a loan officer at Hancock Mortgage Partners and serves clients in San Antonio and neighboring areas. With access to over 40 lenders, she offers various loan options such as conventional, jumbo, FHA, VA, and reverse mortgage for first-time or luxury homebuyers. She also provides refinance options that allow clients to receive cash for home improvements, achieve lower monthly payments, get better rates and terms, and consolidate debts. After walking clients through the available options, April aims to match them with the right lender.
Chris Murray
Chris Murray is a loan officer based in San Antonio. He has been in the real estate industry for over 25 years, first working as a home builder before becoming a real estate agent and broker in 2008. He has since joined his family's mortgage company and has been helping families buy homes for over 12 years. Murray helps clients identify the mortgage terms that meet their needs. Some options he offers include home equity, jumbo home, VA, construction, USDA, and FHA loans.
Rankin Mortgages
Rankin Mortgages is a mortgage refinance company that refinances home mortgages through conventional, government, and specialty loan programs. Serving San Antonio and nearby areas, the company is committed to consumer education and focuses on providing clients with detailed information regarding financing programs suited to their needs. It has successfully helped clients reduce their interest rates, shorten their mortgage periods, and create additional cash flow channels through its programs in the past.
Southwest Funding LP
Southwest Funding LP is a refinance mortgage company offering residential mortgage products for homeowners in the San Antonio area since 1993. It provides a wide variety of loan programs, including FRM, ARM, FHA, VA, USDA, jumbo loans, and conventional mortgages with 10-, 15-, and 30-year terms. Southwest Funding LP also offers loans for foreign nationals, investors, and self-employed buyers. The company can also provide assistance with down payments, credit repairs, and in-house ITIN loan programs.
New Horizon Mortgage, Inc.
Since 1995, New Horizon Mortgage Inc. has been providing financing options and mortgage refinancing services to clients in San Antonio. The loan officers at this company keep clients updated throughout the loan process. They also address concerns and educate clients on the steps and paperwork necessary to refinance loans or acquire new financing options. The company refinances USDA, VA, FHA, condo, and jumbo loans. Clients praised New Horizon Mortgage for the high level of attention they put in to helping clients acquire and refinance loans.
Triton Group at Legacy Mutual Mortgage
Triton Group at Legacy Mutual Mortgage is a Schertz-based mortgage lending company. Serving clients throughout the San Antonio area, the company offers assistance for clients looking to purchase a new home or refinance their existing properties. It offers various loan options such as FHA, VA, USDA, and conventional home loans for primary residences. It also offers two-time construction loans, conventional secondary, and investment home loans with no downpayment required. Triton Group has almost 20 years of collective industry experience.
Expert Answers To Common Questions:
- Introduction
- How do you refinance a mortgage?
- How does mortgage refinance work?
- When should you refinance a mortgage?
- How much does it cost to refinance a mortgage?
- How soon can you refinance a mortgage?
- How long does it take to refinance a mortgage?
- What is the average closing cost to refinance a mortgage?
- How often can you refinance a mortgage?
- When is it worth it to refinance a mortgage?
- Can you refinance a mortgage with no closing costs?
- Can you refinance a home equity loan into a mortgage?
- Can you refinance a mortgage without a job?
- Can you refinance a mortgage with bad credit?
- Can you refinance a second mortgage?
- Can you refinance a first mortgage and not a second?
- How often should you refinance your mortgage?
- What should you expect when refinancing a mortgage?
- Q: Introduction
- A: 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.
- Q: How do you refinance a mortgage?
- A: 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.
- Q: How does mortgage refinance work?
- A: 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.
- Q: When should you refinance a mortgage?
- A: 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.
- Q: How much does it cost to refinance a mortgage?
- A: 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
- Q: How soon can you refinance a mortgage?
- A: 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.
- Q: How long does it take to refinance a mortgage?
- A: 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.
- Q: What is the average closing cost to refinance a mortgage?
- A: 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.
- Q: How often can you refinance a mortgage?
- A: 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.
- Q: When is it worth it to refinance a mortgage?
- A: 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.
- Q: Can you refinance a mortgage with no closing costs?
- A: 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.
- Q: Can you refinance a home equity loan into a mortgage?
- A: 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.
- Q: Can you refinance a mortgage without a job?
- A: 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.
- Q: Can you refinance a mortgage with bad credit?
- A: 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.
- Q: Can you refinance a second mortgage?
- A: 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.
- 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.
- 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: 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.