Expertise.com
Get Listed

Best Mortgage Refinance Companies in Parma

2023

We did the research for you!

  • Licensing
  • User Reviews
  • Mystery Shopping Calls
Mortgage Refinance Companies FAQs 〉

Last updated:

Website
14700 Detroit Ave. Suite 3, Lakewood, OH 44107
  • New Construction
  • Reverse Mortgages

Why choose this provider?

Premier Mortgage Consultants Ltd. is a direct lender catering to the refinancing goals of the Parma community. Its team assists borrowers who would like to modify existing mortgages by decreasing loan terms or reducing rates. The staff accommodates homeowners across state lines. Additionally, the company delivers refinancing programs such as HARP 2.0 and reverse mortgages. It has been operating since 2004 and serves North Carolina, Minnesota, and Tennessee. Premier Mortgage Consultants has been rated the Top 5 Most Competitive by The Wall Street Journal.

License Verified:

License: 71017

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 (15)

Website
2530 Medina Road, Suite 100, Medina, OH 44256
  • New Construction

Why choose this provider?

Crossroads Home Loans offers a selection of real estate solutions in the Parma area and nearby metros. Its team works with homeowners, real estate agents, attorneys, CPAs, mortgage broker firms, and credit unions. The company helps clients who want to purchase investment spaces develop refinancing strategies to lower their monthly payments and interest rates. It also processes different mortgage programs, including USDA, FHA, VA, conventional, and jumbo loans. Crossroads Home Loans has been in operation for over a decade.

License Verified:

License: 252654

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 (74)
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
Helpfulness
Detail

Website
72 N. Main Street, Suite 310, Hudson, OH 44236
  • New Construction

Why choose this provider?

Summit Home Lending is an independent mortgage broker that serves first-time buyers and borrowers in Parma. It provides customized mortgage and refinancing solutions to clients in order to lower interest rates and monthly payments, adjust the length of their mortgage, and take cash out of their home's equity. Some of its loan options include FHA, VA, HARP, USDA, adjustable rate mortgages, and home renovation loans. Summit Home Lending has more than 19 years of experience in the mortgage sector.

License Verified:

License: 1884721

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 (58)
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.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
20525 Center Ridge Rd Suite 138, Rocky River, OH 44116
  • Multi-Family Loans
  • New Construction

Why choose this provider?

Rockway Mortgage Co Inc assists customers in Parma in achieving the ideal home or property for investment. The company helps clients identify the loan option that fits their home purchasing or refinancing needs. It has loan advisors who assess the financial situation and calculate the buying potential of its clients based on standard lending guidelines. The business strives to be a lender of choice by educating and guiding clients throughout the process, from pre-approval to final closing.

License Verified:

License: 1732152

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 (146)
Facebook
5.0 / 5 (31)
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
Helpfulness
Detail

Website
8750 Brookpark Rd, Cleveland, OH 44129

Why choose this provider?

Linkedup Home Lending, LLC, assists homeowners in Parma with their refinancing needs. It offers owners of single- and multi-family residences, condominiums, townhouses, and manufactured homes refinancing from conventional, jumbo, FHA, USDA, and VA loans. Purchase loans from the five programs are also available. Additionally, it has interest-only and graduated payments programs, as well as FRMs and ARMs. Linkedup Home Lending helps its borrowers make informed choices through online calculators, including one that figures out tax benefits.

License Verified:

License: 1882674

Nationwide Multistate Licensing System and Registry

Website
1861 W25 Th Street, Cleveland, OH 44113
  • New Construction
  • Reverse Mortgages

Why choose this provider?

Social Mortgage serves residents of Parma who need to obtain new loans or refinance their current obligations into less onerous forms. The team has adjustable loans for those who need reduced interest over a short period, as well as conventional mortgages with terms that extend from 15 years to three decades. USDA programs are on hand for buyers of rural properties, and VA products are available for military members. Social Mortgage's crew has more than 45 years of collective lending sector experience.

License Verified:

License: 2122771

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 (64)

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
6200 Oak Tree Blvd., Suite 300, Independence, OH 44131
  • Multi-Family Loans
  • New Construction

Why choose this provider?

SIRVA Mortgage is a home lending company that lists the Parma metro as one of its service areas. Its loan officers guide borrowers in applying for programs such as VA interest rate reduction or FHA streamline loans. They search and design refinancing opportunities for clients planning to refinance occupied or vacation homes and investment properties. SIRVA Mortgage has been serving the community for over 25 years and is a member of MBA. The company also delivers relocation mortgage solutions and operates in 50 states.

License Verified:

License: 2240

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.
4.7
Facebook
4.7 / 5 (424)

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
494 Eastwood Rd., Hinckley, OH 44233
  • Reverse Mortgages

Why choose this provider?

Cleveland Lending Group caters to the home financing needs of clients throughout Parma and nearby areas. It assists homeowners who want to improve their cash flow by lowering their monthly payments, interest rates, or loan terms through refinancing. Its wide selection of loan products extends to FHA, VA, jumbo, and fixed-rate policies. Cleveland Lending Group also provides analysis tools on its website to help borrowers compare rates and select the best mortgage program for their individual needs.

License Verified:

License: 2085425

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

Website
24629 Detroit Rd, Suite C, Westlake, OH 44145
  • Reverse Mortgages

Why choose this provider?

Daniel Kazda is a First Centennial Mortgage loan officer who caters to prospective refinancers in the Parma metro. He guides individuals and families in refinancing their mortgages for interest rate improvements and cash-out opportunities that fund domestic initiatives like tuition fees and home renovations. He also has a selection of down payment assistance plans for novice homebuyers. Kazda developed his comprehensive knowledge of lending guidelines and refinancing procedures through his diverse work experience in the financial industry for more than a decade.

License Verified:

License: 992997

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.
4.0
Google
5.0 / 5 (4)
Facebook
0.0 / 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.
3.8
Responsiveness
Friendliness
Helpfulness
Detail
––

Website
3601 Green Rd Beachwood STE 310, Beachwood, OH 44122
  • Reverse Mortgages

Why choose this provider?

MGM Mortgage Co. is a mortgage purchase specialist serving Parma and the nearby areas. It brings together a team of mortgage experts to help clients understand their options in terms of financing their homes or prospective purchases by presenting a variety of loan programs, including fixed-rate and adjustable-rate mortgages. They also assist clients with mortgage refinancing so that they can pay off their homes at a lower interest rate. MGM Mortgage Co. has been in operation since 2001.

License Verified:

License: 262574

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 (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
Responsiveness
Friendliness
Helpfulness
Detail

Website
2211 Medina Rd, Medina, OH 44256
  • New Construction

Why choose this provider?

CHM Lending provides mortgage services to clients in Parma and the surrounding areas. It serves clients who wish to lower their monthly payments, consolidate their debts, reduce their interest rates, and cash-out equity for home improvements by offering refinancing solutions. The company is available to refinance clients' VA, FHA, and conventional loans. It also carries construction loan programs for clients wishing to build their homes without exceeding their budget. CHM Lending has been operating since 1992.

License Verified:

License: 243256

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
Facebook
4.9 / 5 (35)
Yelp
5.0 / 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.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Back to top

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.

  • What debt-to-income ratio is required for mortgage refinancing in Parma?

    The ideal debt-to-income ratio needed in Parma for conventional mortgage refinancing is no more than 40%. Your DTI measures how much you spend on your income to pay for your debts, such as credit cards, student loans, car payments, mortgages, and child support. These parameters are used to determine if you are financially capable of paying off your refinancing loan.

  • Why do lenders charge prepayment penalties for mortgage refinancing in Parma?

    Lenders charge prepayment fees to cover the expenses of loan origination and the interest they were supposed to earn from the mortgage. These closing costs would safeguard the lenders' and investors' initial capital outlay and projected income. Prepayment penalties can vary depending on the lenders in Parma.

  • Do you need to have an equity in your home to apply for a mortgage refinancing in Parma?

    Yes. Lenders in Parma may require borrowers to have at least a 90% loan-to-value ratio before applying for mortgage refinancing. This indicates that the value of your home is roughly 10% higher than the balance of your mortgage. Ideally, the market value of your home or real estate property should have increased since the date of the acquisition.

  • Is it possible to lock in the interest rate on a refinance loan in Parma?

    Yes. Lenders in Parma offer a mortgage lock-in rate. It is an agreement between the borrower and the lender that the current or prevailing interest rate will be fixed for the duration of the loan. Thus, regardless of market behavior, the interest rates will remain constant throughout the term of the mortgage.

  • What is the difference between modifying a loan and mortgage refinancing in Parma?

    In Parma, a loan modification usually involves extending the terms of your mortgage and paying additional interest rates. This is granted to a borrower who is in financial trouble and can't pay the loan according to its original terms. Meanwhile, mortgage refinancing is changing your loan's interest rates and terms. In addition, you may cash out from the equity of your home.

  • 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.

Back to top