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Best Mortgage Refinance Companies in Durham

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Christina Jasper logo
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License Verified:

License: 1745727

Nationwide Multistate Licensing System and Registry

Christina Jasper

555 Mangum Street, Durham, NC 27701
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  • Reverse Mortgages

Business Description

Christina Jasper is a mortgage specialist who offers services in Durham and nearby locations. She creates holistic and comprehensive refinancing solutions to help families and individuals achieve their dream real estate properties. She provides high-interest debt consolidation services and assists clients in filing loans for down payments. The agent processes VA, FHA, jumbo, and conventional loans and handles second home refinancing. Jasper also furnishes loan programs for clients who want to purchase cars. She works as a branch manager at Benchmark Mortgage.

License Verified:

License: 1745727

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 (68)
Facebook
5.0 / 5 (5)

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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Frank Rexford logo
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License Verified:

License: 119234

Nationwide Multistate Licensing System and Registry

Frank Rexford

1414 Raleigh Road, Chapel Hill, NC 27517
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  • Reverse Mortgages
  • NMLS #: 39166

Business Description

Frank Rexford is a senior mortgage banker representing Corporate Investors Mortgage Group in Durham. He has been in the real estate finance industry for over 14 years and has cultivated extensive technical knowledge in mortgage refinancing strategies for clients living in North Carolina. He helps clients choose the best loan option for refinancing based on their needs. His firm offers solutions for reducing monthly mortgage payments, reducing mortgage interest rates, and reducing mortgage terms.

License Verified:

License: 119234

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
On Q Financial - Durham NC logo
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License: 5645

Nationwide Multistate Licensing System and Registry

On Q Financial - Durham NC

5302 North Carolina 55, Durham, NC 27713
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  • Reverse Mortgages
  • NMLS #: 39166

Business Description

On Q Financial, Inc. provides home mortgage refinancing in Durham. The company develops custom refinance plans for its clients, whether the goal is to switch to a lower interest rate, adjust the mortgage term, cash out on home equity, or avoid private mortgage insurance. Customers can apply for pre-approval through the company's website. On Q Financial issues conventional mortgages with competitive interest rates and several maturity options. Jumbo mortgages are available for buyers refinancing a home with a higher value than traditional conforming loan limits in addition to government-backed mortgages, including FHA, VA, and USDA loans.

License Verified:

License: 5645

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
5.0 / 5 (40)

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
Pinnacle Funding logo
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License Verified:

License: 107581

Nationwide Multistate Licensing System and Registry

Pinnacle Funding

905 West Main Street, Durham, NC 27701
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  • Reverse Mortgages
  • NMLS #: 39166

Business Description

Pinnacle Funding is a residential lending specialist in Durham that offers a variety of loan programs. It provides mortgage refinance solutions to clients and helps homeowners determine whether refinancing suits their financial circumstances, which include declining mortgage rates and financial opportunities brought by mortgage refinance loans. Customers also receive guidance on available loan options, such as FHA, conventional, VA, and USDA loans. Pinnacle Funding is committed to providing "quality customer service" and has a platform for online applications and calculators.

License Verified:

License: 107581

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.
4.3
Google
5.0 / 5 (26)
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
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Detail
Victorian Finance Durham - Cole Mill logo
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License Verified:

License: 50635

Nationwide Multistate Licensing System and Registry

Victorian Finance Durham - Cole Mill

1208 Cole Mill Rd., Suite 101, Durham, NC 27705
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  • Multi-Family Loans

Business Description

Victorian Finance Durham - Cole Mill serves individuals and families throughout the metro and its neighboring areas. The agency assists clients with mortgage refinancing for various purposes, whether to reduce monthly payments, cash out some equity, or consolidate existing debts. Loan options include fixed-rate and adjustable-rate mortgage, FHA, VA, renovation, and USDA home loans. Victorian Finance has been in the industry since 2003 and also caters to the needs of clients who are looking into purchasing their first homes.

License Verified:

License: 50635

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 (468)
Yelp
3.5 / 5 (19)

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.
4.0
Responsiveness
Friendliness
Helpfulness
Detail
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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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