Expertise.com

Best Mortgage Refinance Companies in Norman

2024

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Website
2949 S Bryant Ave, Edmond, OK 73013
  • New Construction
  • Reverse Mortgages

Why choose this provider?

Financial Concepts Mortgage Edmond offers refinancing assistance to individuals and families throughout Norman and nearby areas. The locally owned mortgage bank assists clients throughout the entire process, from loan origination and processing to underwriting and closing. A wide variety of loan options are also available to homebuyers, such as Section 184, FHA, VA, USDA/RHS, conventional, and downpayment assistance loans. Financial Concepts Mortgage has more than 20 years of experience and serves clients in Texas, Arkansas, Kansas, and Alabama.

License Verified:

License: 1209546

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 (244)
Facebook
4.9 / 5 (138)

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
9400 S I 35 Service Road, Oklahoma City, OK 73160
  • New Construction

Why choose this provider?

Citywide Mortgage helps borrowers in the Norman metro who wish to get their debt under control through refinancing. Its team assists first-time homebuyers in navigating a tax credit program that would qualify them for a mortgage loan. The professionals have more than 85 years of combined experience. In addition, the residential company, which is dedicated to providing a smooth mortgage process, allows clients to submit loan applications online. Johnnell Jones, the company's vice president of operations, is a finance graduate.

License Verified:

License: 120886

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
5.0 / 5 (16)
Google
4.7 / 5 (14)

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
2401 Tee Circle, Ste 102B, Norman, OK 73069
  • New Construction

Why choose this provider?

Executive Lending Group is an independent mortgage brokerage firm serving Norman. The company helps borrowers find the right refinancing plan for their specific financial needs. Its mortgage specialists offer several programs that enable clients to reduce their monthly payments, consolidate debt, obtain cash, or build up equity faster. The firm also provides Reverse mortgages and government loan programs such as FHA and VA. The company—which is a division of 1st Capital Mortgage LLC, has been serving the local community for over 20 years.

License Verified:

License: 293964

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 (12)
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
501 SE 4th Street, Suite C, Moore, OK 73160
  • Multi-Family Loans

Why choose this provider?

Lincoln Lending is a home loan coach that serves the Norman metro. It provides a refinancing program to clients with existing mortgages to help them consolidate debts. Through its Home Loan Coaching Session, the team sits down with the homebuyer to educate them about the best loan option that addresses their specific needs. President Kelly Pensoneau specializes in HUD-184 Native American loans, which provide Native American tribal members with access to mortgage financing. Lincoln Lending is a member of the Moore Chamber of Commerce.

License Verified:

License: 1290090

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 (100)
Facebook
4.9 / 5 (47)
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

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.
  • Is there a limit on how many times you can refinance a VA loan in Norman?

    The number of times it is possible to refinance a VA loan in Norman, whether it's an IRRRL or a cash-out option, is unrestricted. There is a minimal waiting period, though, that one must adhere to before refinancing. Borrowers must wait at least 210 days after taking out the initial VA mortgage. Additionally, the borrower must have settled on at least six consecutive monthly.

  • Can borrowers with past-due payments still be eligible for a VA streamline refinance mortgage in Norman?

    It depends; if a borrower paid past the due within the last 12 months, they may not qualify. Only those who haven't had any late payments of more than 30 days in the previous year can be eligible for a VA streamline refinance mortgage in Norman. A borrower must also pay a VA funding fee and have a minimum credit score of 600.

  • Is an appraisal necessary in Norman when refinancing a loan?

    When refinancing an existing property in Norman, a house appraisal is needed. It helps find the property's fair value by considering factors like on-site evaluation, comparing sales of similar nearby properties, and current market trends affecting its value. This value aids mortgage lenders in determining the risk involved in issuing a loan to the borrower.

  • What are the expenses associated with replacing a loan in Norman?

    Some of the expenses associated with refinancing or replacing a loan in Norman include:

    • Origination fee: Lenders charge 0.5% to 1% of the loan for processing (admin, underwriting, or document fee).
    • Title insurance: Refinancing ends prior coverage; new coverage costs $1,000 to $3,000, guarding against errors.
    • Appraisal and inspection: For security, reappraisal and inspection add a few hundred dollars to costs.
    • Mortgage insurance: Past PMI might continue; costs vary by loan amount, equity, and risk.
  • Does refinancing a mortgage impact credit scores in Norman?

    When replacing an existing loan with a new loan of the same sort, refinancing typically has little effect on the credit score of borrowers in Norman. The interest rate or period of account payback, however, is not taken into account by credit ratings. If a borrower opens or closes a new account or applies for a new loan and the lender runs a hard inquiry, the borrower may see a change in their credit ratings.

  • 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.