Expertise.com

2024

Last updated:

Best Mortgage Refinance Companies in Santa Fe

Our Recommended Top 7

We did the research for you!

  • Licensing
  • User Reviews
  • Mystery Shopping Calls

Our goal is to connect people with the best local professionals. We scored Santa Fe Mortgage Refinance Companies on more than 25 variables across five categories, and analyzed the results to give you a hand-picked list of the best.

50Reviewed

32Curated

7Top Picks

Learn about our selection process.

Providers

featured provider = Featured Provider

01 Ridge Court, Placitas, NM 87043
WebsiteLicense: 197547

Expertise.com Rating

Why choose this provider?

PSD caters to clients in the Santa Fe metro who seek mortgage programs and refinancing to obtain less burdensome rates. The crew delivers traditional fixed-rate loans with terms ranging from a decade to three, as well as adjustable-rate alternatives. Reverse mortgages are available to address the needs of aging members of the community. The company also provides government-backed programs under Veterans Affairs and the FHA. PSD is a member of the Association of Independent Mortgage Experts.

  • Commercial Loans

417 E. Palace, Suite C, Santa Fe, NM 87501
WebsiteLicense: 267928

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Review Sources

Google
5.0 (1)

Why choose this provider?

Mortgage Partners Santa Fe caters to clients in the metro. The firm works with various lenders to offer mortgage refinancing options, including VA, USDA, FHA, jumbo, and construction loans. It also offers conventional loan programs like Fannie Mae and Freddie Mac, with terms ranging from 15 to 30 years. The company comprises loan officers with over 45 years of collective experience in the industry, providing market information to help clients make informed decisions about home financing.

  • New Construction
  • Reverse Mortgages

459 Cerrillos Rd, Santa Fe, NM 87501
WebsiteLicense: 194320

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Review Sources

Google
5.0 (3)

Why choose this provider?

Santa Fe Mortgage serves residential property owners in the metro. It assists with refinancing to reduce interest rates, get cash out, consolidate two mortgages, or eliminate mortgage insurance. It also helps homeowners switch to a fixed-rate mortgage to stabilize their monthly payments. Since its establishment in 1993, Santa Fe Mortgage has maintained a small lending operation in order to give clients hands-on support while still providing loan rates comparable to large banks. The company also offers VA and FHA loans.

  • New Construction

317 Paseo de Peralta, Santa Fe, NM 87501
WebsiteLicense: 1560222

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Review Sources

Google
5.0 (3)
Yelp
5.0 (1)

Why choose this provider?

Dash Hamblin is a mortgage professional serving clients in Santa Fe and nearby areas. He offers refinancing services for borrowers with existing properties. He provides different loan options, including conventional, jumbo, rehab, VA, FHA, and USDA loans. He also carries Bell’s borrower-financed construction lending program that allows clients to build a new construction home with standard and custom blueprints. Hamblin has been in the industry since 2017 with experience as a loan broker and residential loan officer.

  • New Construction

150 Washington St, Suite 201, Santa Fe, NM 87501
WebsiteLicense: 204403

Why choose this provider?

Anasazi Mortgage serves clients throughout the Santa Fe area. The company helps homeowners lower their interest rates through assistance with the mortgage refinancing process. It also deals with clients seeking to refinance their loans to fund home improvement projects or family vacations. It offers other solutions like the reverse mortgage, an FHA-guaranteed program that allows senior homeowners to supplement their fixed incomes with funds from their home equity. The company's website contains information on current housing market trends.

  • Reverse Mortgages

1301 Siler Road, Bldg. D, Santa Fe, NM 87507
WebsiteLicense: 188231

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Review Sources

Facebook
4.5 (53)
Google
3.8 (40)
Yelp
4.0 (6)

Why choose this provider?

Homewise has been supporting the homeownership dreams of the community since 1986. Through financial coaching, the company delivers an educational approach to aid Santa Fe loan borrowers in determining if applying for refinancing suits their needs. Its team analyzes current mortgage and provide recommendations for goals such as credit score improvement, debt reduction, and loan term change. Homewise is the recipient of the 2016 New Mexico Mortgage Finance Authority Summit Award and the 2008 EPA Water Efficiency Leader Award.

  • Reverse Mortgages

128 Grant Avenue Office Suite #216 & 217, Santa Fe, NM 87501
WebsiteLicense: 249283

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Review Sources

Facebook
5.0 (2)

Why choose this provider?

Luke Rodriguez is a mortgage professional under Guaranteed Rate who looks for products that best serve the refinancing needs of Santa Fe homeowners. He walks mortgage borrowers through the refinancing process, starting from benefit analysis to application and closing. Additionally, Rodriguez responds to mortgage queries long after funding and provides educational resources and digital calculators. The agent was born and raised in Santa Fe and has been in the loan origination industry for over 26 years. He offers also programs such as HELOC, cash-out refinance, and personal loans.

  • New Construction

FAQs

  • 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.
  • What are other documents that Santa Fe borrowers can submit in case they want to apply for refinancing but are currently unemployed?

    Santa Fe mortgage lenders prefer consistent income applicants, although the following are acceptable:

    • K-1s for all partnerships and S-Corporations for the last two years, completed and signed Federal Partnership (1065) and/or Corporate Income Tax Returns, or full tax returns with year-to-date Profit and Loss statements for self-employed, commission, bonus, interest, or dividend-earning, or rental income clients.
    • For individuals who plan to use alimony or child support, divorce decree/court order specifying amount and proof of receipt for last year.
    • Agency or organization award letter for Social Security, Disability, or VA recipients Depending on your position and credit report, you may need to supply additional proof.
  • When is a good time to apply for mortgage refinancing in Santa Fe?

    Refinancing is recommended when mortgage rates are 2% lower than your current loan rate. Even a small interest rate difference of 1% or less can still make it a viable option. Additionally, your savings are influenced by your income, budget, loan amount, and changes in interest rates. Consult with a mortgage officer in Sante Fe who can assist you in calculating your options.

  • How does a debt consolidation mortgage refinance work in Santa Fe?

    Debt consolidation refinancing is when you borrow a larger amount than your current home loan by refinancing and using your home equity to help you pay off high-interest debts like credit cards, medical bills, and student loans. As with home purchases, lenders in Santa Fe look into your credit score, debt-to-income ratio, and job history. They also conduct home appraisals to make sure your home in Waco is valued higher than the amount you want to borrow and that you will still have equity left after using the cash to pay off your debt.

  • Aside from debt consolidation, what are other common reasons to apply for mortgage refinancing in Santa Fe?

    Below are other typical considerations for pursuing mortgage refinancing in Santa Fe:

    • Transitioning from an ARM to a fixed-rate mortgage
    • Combining a mortgage and a home equity line of credit or two mortgages
    • Getting rid of mortgage insurance for private loans.
    • Switching from a 30-year to a 15- or 10-year mortgage
  • What is the average refinancing closing cost in Santa Fe?

    The average closing cost for refinancing in Santa Fe and the rest of New Mexico is $2,693. Note that closing costs for refinancing are not limited to a single fee; instead, they encompass various expenses. A significant portion of the funds you provide at closing is allocated towards covering your mortgage lender's fees, as well as any services utilized during the underwriting and closing stages of your loan. Likewise, a portion of your expenses may also be allocated towards taxes.

  • 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.