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Best Mortgage Refinance Companies in Paterson

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American Federal Mortgage logo

American Federal Mortgage

360 Route 24, Chester, NJ 07930
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  • New Construction

American Federal Mortgage delivers personalized loan programs to clients who are considering refinancing their current homes or buying new residences. The firm caters to customers in the Paterson metro area. Its team of professionals provides adjustable-rate, as well as 30-year and 15-year fixed-rate mortgages. The company also handles loan options such as jumbo, FHA, and VA. In addition, it offers a corporate incentive program. American Federal Mortgage has more than three decades of lending experience.

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Citizens Mortgage Corporation logo

Citizens Mortgage Corporation

26-01 Pellack Drive, Fair Lawn, NJ 07410
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  • Multi-Family Loans

Citizens Mortgage Corporation is a family-owned and family-operated company that has been serving customers in Paterson since 1987. It offers loan options for individuals looking to refinance their single-family and multifamily residences, manufactured homes, condominiums, or townhouses. These options include adjustable-rate and fixed-rate mortgages as well as USDA, FHA, and VA loans. Its experts have access to several lenders to provide borrowers with a mortgage product tailored to meet their unique needs. The company serves as a Mortgage Bankers Association of America member.

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Contour Mortgage New Jersey logo

Contour Mortgage New Jersey

2365 State Highway 33, Paterson, NJ 08691
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  • New Construction
  • Reverse Mortgages

Contour Mortgage New Jersey helps borrowers in Paterson and the surrounding areas take control of their home loans through refinancing. It offers various types of mortgage refinancing loans, including rate-and-term, fixed-rate, and adjustable-rate, as well as cash-out and HARP. The mortgage lender employs more than 450 processors and underwriters who assist clients across the country with their refinancing requirements, such as credit score, debt-to-income ratio, and existing home equity. Contour Mortgage has been in operation since 1993.

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North Capital Funding logo

North Capital Funding

535 Union Blvd, Totowa, NJ 07512
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  • Reverse Mortgages

North Capital Funding helps thousands of families realize their dream of home ownership through mortgage refinancing services in the Paterson metro. Its cash-out refinance options enable clients to reduce monthly mortgage payments and consolidate high-interest debt. It has various loan options, such as VA, FHA, USDA, and jumbo loans. Bernadette Lindsay, the founder of the firm, has been in the industry for over 30 years. She is part of the advisory board of the Paterson Salvation Army.

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Scott David Mantel logo

Scott David Mantel

1 International Blvd. Suite 1202, Mahwah, NJ 07495
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  • Reverse Mortgages

Scott David Mantel is a senior loan officer who operates under Nationwide Equities Corporation, a mortgage banking firm. He joined the company in 2005, serving Paterson investors looking to refinance and leverage existing properties for new acquisitions. Mantel offers a wide selection of loan programs, including streamlined refinances and reverse mortgages as well as conventional, VA, USDA, and jumbo loans, tailoring each program to fit the borrower's needs and requirements. He is a member of the National Reverse Mortgage Lenders Association.

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Time Mortgage logo

Time Mortgage

333 Sylvan Ave #310, Englewood Cliffs, NJ 07632
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  • New Construction

Time Mortgage caters to buyers and investors in Paterson and its nearby areas. Its loan officers help families and individuals refinance their loans, enabling them to achieve their dream residential properties. They assist clients in processing pre-approval letters and creating strategies to reduce their mortgage rates and monthly payments. They also provide different mortgage programs, including fixed-rate, adjustable-rate, interest-only, and foreign student loans. The company's founder has been in the industry for more than two decades.

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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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