Best Mortgage Refinance Companies 2022
The Phoenix Broker
Founded in 2021, The Phoenix Broker is a locally owned and operated firm that provides mortgage solutions to assist clients with their homeownership journey in Phoenix. It offers various mortgage options, such as conventional and jumbo loans for clients purchasing their first home or investment property. It also provides mortgage refinance options for those with existing home loans. In the mortgage industry since 2009, owner Dan Munson has closed more than 4,000 mortgage transactions on behalf of his clients.
Handshake Home Loans
Handshake Home Loans is a mortgage broker assisting residential investors and borrowers in the Phoenix area. Particularly, it helps homeowners seeking to reduce their interest rates and mortgage payments by delivering refinancing packages that suit their budget. In addition, its brokerage services and loan products include conventional loans, FHA loans, jumbo loans, and VA loans. Handshake Home Loans is led by chairman Joey Raymond who has been serving in the mortgage service industry for eight years.
Desert Financial Federal Credit Union
For over eight decades, Desert Financial Federal Credit Union has offered home mortgage refinance in Phoenix. The available loan options include FHA, jumbo, and conventional loans with flexible down payments. Experienced loan advisors provide clients with refinancing information personalized to each customer's needs. The professional loan officers at Desert Financial Federal Credit Union help clients by investigating refinancing options that lower interest rates, shorten loan terms, reduce monthly payments, and access tax-free cash from home equity. The credit union supplies an online home refinance calculator for clients to quantify how refinancing could alter their mortgage payments. All underwriting and application processing occurs directly through Desert Financial Federal Credit Union.
Copperstate Home Loans, LLC
Copperstate Home Loans, LLC is a mortgage broker that serves the residents of Phoenix. It offers home refinance options for those who wish to reduce interest rates, reduce monthly payments, or change mortgage terms. Home refinance loan options include fixed-rate, adjustable-rate, conforming, and jumbo and super jumbo mortgages. It also carries FHA, USDA, and VA loans. Mortgage broker John Doyle of Copperstate Home Loans, LLC has more than 25 years of experience in the industry.
Orion Mortgage Corporation
For over 18 years, Orion Mortgage Corporation has provided customers with home mortgage refinance in Phoenix. To assist customers in lowering their mortgage interest rates, shortening loan terms, swapping between adjustable and fixed rates, and getting tax-free cash back from home equity, trained loan officers walk each customer through all their refinancing choices. Orion Mortgage Corporation's mortgage consultants guide clients through various loan options, including ARMs and 30-year and interest-only mortgages. The lenders it works with require a credit check, home appraisal, title search, and proof of insurance. The company also helps clients choose the best refinancing alternative to consolidate customer debt, increase cash flow, and save money.
Cobalt Mortgage
Cobalt Mortgage provides brokering services for homeowners and prospective buyers in Phoenix. It assists in the evaluation of a property's current equity position and guides clients in the refinancing process. Its refinance services are offered to primary properties, vacation homes, and rental properties. With a combined experience of more than 50 years in the industry, the team compares rates from different lenders to fit the needs of clients. The business was established in 2019 by Mike Roberts and Rachel Lang.
Signature Home Loans LLC
Signature Home Loans LLC is a company with mortgage refinance lenders in Phoenix that lowers mortgage payments and finds reduced interest rates for clients. Through Signature Home Loans LLC, the loan options are conventional, FHA, jumbo, VA, and reverse mortgage. The experienced lenders walk customers through each step of the refinance process, including assessing if refinancing is the correct decision, assisting customers with completing the mortgage application, and reviewing an appraisal of the home. The company offers guidance and advice on the Refinance Program for Arizona Homeowners, which could reduce the loan term, offer low- or no-risk fees, and set no maximum loan amount.
AZ Mortgage Broker
AZ Mortgage Broker is an independent mortgage broker. For over 20 years, the business has been helping clients in Phoenix acquire and refinance mortgages. The loan officers at this firm are experienced in assisting clients in obtaining rate-and-term, cash-out, and cash-in refinancing options. They guide clients throughout the mortgage refinancing process, from qualifying for a refinance to the final closing of the loan. AZ Mortgage Broker partners with a network of lenders in order to provide clients with various loan packages.
Aaron Lending, LLC
Aaron Lending, LLC is a team of loan professionals offering mortgage refinancing services to Phoenix residents. The company helps clients borrow against home equity, convert mortgages between fixed and adjustable rates, reduce mortgage payments, and obtain low-interest rates. It also offers online mortgage refinancing calculations to help clients understand their refinancing options and how their alternatives change monthly mortgage payments. Clients can avail themselves of 10-year to 30-year, conventional, jumbo, home equity, VA, and commercial mortgages.
Road to Home Mortgage, LLC
Road to Home Mortgage, LLC, is a mortgage specialist with licenses to do business in Arizona, California, Oregon, and Nevada. the company provides a number of mortgage advisors able to assist clients who want to buy a new home or refinance an existing mortgage. As support to those who rendered service to the United States Armed Forces, the company provides VA home loans to veterans and service members. It is a member of AIME.
Nova Home Loans
NOVA Home Loans has been providing mortgage refinance services to clients in Phoenix since 1980. The loan officers from this company work closely with home buyers by matching them with a realtor and a loan coordinator in finding homes and processing documents. They specialize in mortgage and loan programs, such as FHA, VA, jumbo, reverse mortgage, fixed-rate, and USDA. Additionally, NOVA Home Loans also offers in-house insurance and financial services. The company has offices in California, Nevada, and Texas.
Agave Home Loans
Agave Home Loans is a mortgage brokerage firm serving residents of Phoenix and the surrounding areas. It offers a variety of refinance loan options, including conventional, FHA, non-qualifying mortgage, and VA loans. Its team of professionals has backgrounds in finance and hospitality. One of the company's co-owners, Marshall Gottlieb, worked in the restaurant and hospitality industry for seven years before starting his lending and real estate career. He also has a degree in finance with an emphasis on investments.
Desert Capitol Services
Desert Capitol Services provides residential loans to clients in Phoenix. The company offers mortgage refinancing options to help clients trim down their monthly payments on a condominium unit, townhouse, or family home. It assists clients throughout the loaning process—from understanding the various loan types to helping them determine and secure the home loan program that best suits their needs. The Desert Capitol Services' website has an interactive calculator that allows clients to have quick evaluation of possible financing options.
P1 Home Loans
P1 Home Loans offers a mortgage refinancing company servicing Phoenix residents. It provides refinancing solutions and options to various types of mortgages including manufactured homes, townhouses, condominiums, and single-family and multi-family homes. It accommodates clients looking to lower their interest rates, lower monthly payments, consolidate debt, make home improvements, or change the rate and terms of their mortgage. P1 Home Loans also offers fixed and adjustable-rate mortgages, FHA and VA loans, and balloon and reverse mortgages under its loan programs.
Brightside Mortgage, LLC
Brightside Mortgage LLC is a mortgage refinance company in Phoenix. With a team of experienced loan officials and a diverse selection of mortgage products, the company helps homeowners to consolidate debts, cash out on equity, or simply find a better interest rate. Applications and supporting documents can easily be submitted through the company's website. Brightside Mortgage issues classic home loans with fixed or adjustable interest rates. Customers with lower credit may be eligible for mortgages insured by the Federal Housing Administration. Jumbo loans are available for high-value properties exceeding local limits on conforming mortgages. In addition, the company provides government-insured USDA and VA loans with up to 100% financing.
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.