Expertise.com

Best Mortgage Refinance Companies in New Rochelle

2024

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Website
10 Rutland Rd., Scarsdale, NY 10583
  • Reverse Mortgages

Why choose this provider?

Faze One Funding is a mortgage broker that serves New Rochelle and the rest of New York. It assists clients seeking to refinance their current mortgages to secure funding from third-party providers. It offers FHA and 203k streamline refinance programs. It also originates other residential and commercial loans, including conforming, jumbo, VA, SBA, and reverse mortgages. Faze One Funding is a member of NRMLA. Its services extend to clients in New Jersey, Connecticut, and Florida.

License Verified:

License: 85748

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.
4.6

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

Website
81 Centre Avenue Suite 214, New Rochelle, NY 10801
  • New Construction
  • Reverse Mortgages

Why choose this provider?

Certus Capital LLC serves first-time homebuyers, real estate owners, and business owners in New Rochelle and its surrounding communities. It helps clients seeking to consolidate their debts, alter their loan terms, or withdraw cash from their home's equity by providing them with various refinancing options, including cash-out and rate-and-term. It also assists customers in the application process for FHA, VA, conventional, and USDA loans. The company's managing partner, Alexander Viafore III, has been working in the financial sector since 2000.

License Verified:

License: 17515

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.
4.9
Google
4.9 / 5 (93)

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

Website
700 White Plains Road Suite 334, Scarsdale, NY 10583
  • Reverse Mortgages

Why choose this provider?

Cityscape Mortgage Corp. helps borrowers in the area of New Rochelle achieve the right home loan and interest rates that meet their financial situation. Its loan officers average over 10 years of industry experience, offering multiple mortgage products for borrowers. The business has formed partnerships with more than a dozen lenders, which gives clients access to various loan programs. Cityscape Mortgage Corp. uses digital services to expedite clients' paperwork and make tracking loan progress, e-signing, and uploading documents easier.

License Verified:

License: 991388

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
4.8 / 5 (60)
Facebook
5.0 / 5 (15)
Yelp
3.0 / 5 (2)

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.
3.8
Responsiveness
Friendliness
Helpfulness
Detail
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Website
219 Paterson Street, Little Falls, NJ 07424
  • New Construction

Why choose this provider?

Howard Kleinberg is a branch manager at NJ Lenders Corp., helping New Rochelle residents finance their homes and remodeling projects. He assists borrowers in reducing their interest rates and consolidating their debts through refinancing. Howard offers conventional, 203k rehab, and FHA loans based on the needs of clients. In addition, he specializes in reverse mortgages by collaborating with social workers to help older people plan for their long-term care needs. Howard is also licensed to serve clients in New Jersey, Florida, and Connecticut.

License Verified:

License: 172341

Nationwide Multistate Licensing System and Registry

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

Website
120 Stevens Ave, Mt Vernon, NY 10550
  • New Construction
  • Reverse Mortgages

Why choose this provider?

Dalco Financial Services, Inc., has been serving clients in and around New Rochelle since 2002. It works with borrowers who wish to fund their active loans to consolidate debts, shorten loan terms, lower monthly payments, or cash out equity. The firm's specialists help clients shop for a refinance product that fits their needs. They also help first-time homebuyers secure a mortgage package to achieve their homeownership goals. Loan options offered include ARM, Hybrid ARM, and 30- or 15-year fixed rate mortgages.

License Verified:

License: 131071

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 (7)

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.
3.8
Responsiveness
Friendliness
Helpfulness
Detail
––

Website
1890 Palmer Ave Suite 302, Larchmont, NY 10538

Why choose this provider?

Scott Capital Group is a residential mortgage company that serves people in New Rochelle. It provides home mortgage refinancing options for homeowners who want to switch from adjustable to fixed rates and have lower monthly payments. It also assists in getting cash out of equity to use for home remodeling, debt consolidation, and paying for college. Additionally, the Scott Capital Group team offers purchase and specialized programs, including conventional, foreign national, non-QM, USDA, and VA loans.

License Verified:

License: 876527

Nationwide Multistate Licensing System and Registry

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.
2.8
Responsiveness
Friendliness
Helpfulness
Detail
––

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.
  • Do individuals pay closing costs with VA cash-out refinance in New Rochelle?

    Yes, borrowers have to pay closing costs with VA cash-out refinance. These include lender's title insurance fees, which are between $500 to $1,500; origination bills, which cost $1,000 for every $100,000 borrowed; and VA funding expenses, which can be $3,600 or $2,300 per $100,000 borrowed. However, several borrowers in New Rochelle are exempted from paying, including those receiving VA compensation for a service-connected disability and surviving spouses with Dependency and Indemnity Compensation.

  • How can a borrower in New Rochelle qualify for a cash-out refinance?

    In New Rochelle, borrowers must have over 20% equity in their property to be eligible for a cash-out refinance. For instance, individuals with a property worth $350,000 must have paid off $70,000. Borrowers can cash out up to 80% of their home equity to finance their kitchen and bathroom remodeling, home additions, or the property's interior or exterior improvements. They may also opt for cash-out refinance to seek a lower monthly payment, change their loan terms, or consolidate debts.

  • How often can a borrower refinance their mortgages in New Rochelle?

    There is no limitation on how often an individual can refinance their mortgages. However, most lenders set a timeframe for how soon a borrower can refinance; for example, those with government-backed programs, like USDA, FHA, and VA, have to wait six to seven months to refinance. On the other hand, residents of New Rochelle who recovered their closing expenses within 30 months can readily refinance their mortgages.

  • Who can apply for the New Rochelle First-Time Home Buyer Down Payment Assistance Program?

    The First-Time Home Buyer Down Payment Assistance Program is exclusively for first-time homebuyers (except for veterans with a DD-214) who have at least $40,000 annual household income and have financial resources to pay for mortgages. Eligible participants must also submit pay stubs and tax returns and complete a mortgage counseling session from a HUD-certified not-for-profit housing agency. The down payment assistance program only finances primary residences in New Rochelle, including cooperative apartments, single-family homes, and condominiums.

  • Does refinancing make the home lose equity after refinancing in New Rochelle?

    In New Rochelle, refinancing mortgages does not directly affect the borrower's home equity. However, the equity can change if an individual decides to pay the closing costs of refinancing into the new mortgage, as they increase their mortgage balance and decrease their home equity. For instance, if a borrower has a closing cost of $5,000 and wants to roll out the fee into the new mortgage, their equity will be reduced by $5,000.

  • 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.