Expertise.com

2024

Last updated:

Best Mortgage Refinance Companies in Amherst

Our Recommended Top 5

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 Amherst 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.

70Reviewed

44Curated

5Top Picks

Learn about our selection process.

Providers

featured provider = Featured Provider

27 North Long, Buffalo, NY 14221
WebsiteLicense: 46252

Expertise.com Rating

Review Sources

Google
4.1 (17)
Facebook
4.4 (13)

Why choose this provider?

Banas Mortgage Co., Ltd., serves clients in and around Amherst. The company offers mortgage refinance programs that allow homeowners to lower interest rates, shorten loan terms, consolidate debt, or obtain emergency cash from their home equity. Its mortgage specialists provide alternatives to traditional banking solutions by representing various lenders and offering clients a variety of refinancing options. The company—which has been serving clients for over three decades—also offers specialized residential home loans to doctors and dentists with specific medical designations.

  • New Construction

3460 Seneca St., West Seneca, NY 14224
WebsiteLicense: 1586

Expertise.com Rating

Review Sources

Google
4.8 (90)
Facebook
4.9 (47)
Yelp
5.0 (1)

Why choose this provider?

Nickel City Funding, Inc. attends to the loan needs of clients in Amherst and its surrounding communities. The company provides home purchasing, refinancing, and loaning services. Its team handles loan refinancing matters for properties such as single-family, multi-family, townhouses, and condominiums. It also offers a variety of mortgage loan choices, including conventional, FHA, VA, and USDA loans. The company has been assisting clients with their mortgage concerns for more than 15 years.

  • New Construction
  • Reverse Mortgages

4498 Main St # 8, Amherst, NY 14226
WebsiteLicense: 12021

Expertise.com Rating

Review Sources

Facebook
5.0 (51)
Google
5.0 (24)
Yelp
5.0 (1)

Why choose this provider?

L.W. Integrity Funding, LLC, serves the locals of Amherst and the surrounding areas. It offers mortgage refinancing programs for first-time home buyers, assists them in exploring all available options that fit their goals for the future, and helps them understand the current market. Other services it offers include pre-approval purchase, conventional mortgages, FHA, VA, and USDA loans. The mother-and-daughter team of Bobbie Lindner and Jeanne Wiles established the company in 2005, although they have been working together since 1998.

  • Reverse Mortgages

5385 Main Street Ste 1, Williamsville, NY 14221
WebsiteLicense: 1857261

Expertise.com Rating

Why choose this provider?

Supreme Lending is a mortgage lender serving clients in and around Amherst. The company offers various loan options for homeowners considering a mortgage refinance. Its cash-out refinance, FHA 203(k), HomeStyle Renovation, and rate-term refinance programs aim to empower those seeking to replace their existing mortgages with another loan, reduce their interest rates, payments, and loan terms, or improve their properties. The company handles the processing and underwriting of mortgages in-house. Supreme Lending has been in the business for over two decades.

  • New Construction

Amherst, NY
WebsiteLicense: 55185

Expertise.com Rating

Review Sources

Facebook
4.7 (149)

Why choose this provider?

Maple Tree Funding is a locally owned and operated mortgage brokerage firm that assists clients throughout their homeownership journey in Amherst and the surrounding communities. Since 2003, its team of brokers has been offering various mortgage refinance programs that help those with existing mortgages get better rates or terms and cash out for home improvements. Conventional, FHA, VA, USDA, and jumbo loans are also available for customers looking to purchase a home for the first time.

  • Commercial Loans

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.
  • Should down payment assistance borrowers in Amherst refinance their homes?

    Those in Amherst who bought their homes through the State of New York Mortgage Agency’s Down Payment Assistance Loan program are advised not to refinance until after 10 years. This is because the loan is fully forgiven if one stays in the home for that time period without refinancing, moving, or selling the home.

  • Does the state offer refinance programs for Amherst homeowners?

    The State of New York Mortgage Agency offers the Conventional Plus Program to low-income homeowners in Amherst who wish to refinance their mortgages. The program is a 30-year loan with lower interest rates and down payment help that can also be used to pay closing costs. To qualify, one’s income must be less than 80% of the Amherst median income.

  • What are the benefits of an Amherst FHA loan refinance?

    One of the benefits of refinancing an FHA-backed loan in Amherst is that lenders are permitted to forgive all debt above 90% of the home's current appraised value. The FHA loan program is for borrowers with low credit scores and moderate to high debt-to-income ratios. While there are no minimum credit score requirements, lenders may enforce their own guidelines.

  • Do Amherst refinancers have to pay a state mortgage tax?

    While New York State levies a mortgage tax of approximately 1% of the amount borrowed when a mortgage is recorded, refinancers in Amherst may be permitted to pay little or no tax on their new mortgage if they record a Consolidation Extension and Modification Agreement. This is because the agreement gives the borrower credit for the mortgage tax previously paid.

  • 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.