Expertise.com

2024

Last updated:

Best Mortgage Refinance Companies in Scranton

Our Recommended Top 4

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 Scranton 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.

44Reviewed

28Curated

4Top Picks

Learn about our selection process.

Providers

featured provider = Featured Provider

Website
203 E Drinker Street, 2nd Fl., Dunmore, PA 18512
  • New Construction

Why choose this provider?

Mid Atlantic Funding offers refinancing options to Scranton homeowners. It employs an online analysis tool to assist borrowers in comparing rates and determining the best options for lowering monthly payments or obtaining cash from equity through refinancing. FHA, VA, jumbo, USDA, fixed and adjustable-rate loans, as well as HARP and reverse mortgages, are also part of its services. Mid Atlantic Funding has a team of officers with a combined 20 years of experience. Its communication lines are open 24/7.

License Verified:

License: 116796

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
Google
4.8 / 5 (33)
Facebook
4.7 / 5 (29)
Yelp
1.0 / 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
250 Josephine Street, Peckville, PA 18452
  • New Construction

Why choose this provider?

Detailed Mortgage Solutions provides customized quotes and loan options for borrowers in Scranton. Its loan officers offer several fixed and adjustable loans for home purchases and refinance. Other options available include FHA, VA, jumbo, USDA, 203K, and reverse mortgage. This company also grants access to various decision-making tools, such as a payment calculator, refinance analysis, home value estimate, home insurance quote, and pre-approved letter. Detailed Mortgage Solutions is owned by Tammy Serafini, a loan originator and mortgage advisor.

License Verified:

License: 1769900

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 (53)
Google
5.0 / 5 (37)

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
329 Penn Avenue, Suite 200, Scranton, PA 18503
  • New Construction
  • Reverse Mortgages

Why choose this provider?

Kapital Mortgage offers loan options to those who seek to refinance their mortgages throughout the Scranton metro. Its staff uses its collaborations with multiple local lenders to gain access to a variety of comprehensive financial programs with improved wholesale rates and terms. It follows marketing trends, assesses property values, and monitors local interest changes for reports that guide applicants in their decision-making processes. It also verifies each client's eligibility for specific plans by analyzing their total assets, existing loans, and outstanding debts.

License Verified:

License: 972944

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
4.9 / 5 (39)
Facebook
5.0 / 5 (12)
Yelp
1.0 / 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
214 Sahara Dr, Kingston, PA 18704
  • Reverse Mortgages

Why choose this provider?

The John E. Young Mortgage LLC serves locals in Scranton who wish to refinance their current debts or obtain loans for new purchases. It has options fit for buyers looking into single-family buildings and condominium units. The company also maintains listings of homes up for sale. John E. Young has been involved in the lending sector for over two decades, and he obtains more than 85% of his business from referrals. He focuses on products backed by the FHA and VA.

License Verified:

License: 145188

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
4.8 / 5 (36)
Facebook
5.0 / 5 (31)

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

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 can a second mortgage do for Scranton residents?

    A second mortgage can function in the same way as a credit card and allow Scranton residents to get approved for borrowing a certain amount. They may use this money for personal purposes. The entire amount that has been approved need not be spent; the borrower is only required to pay for the amount that they actually used.

  • How is a Scranton resident’s credit rating determined?

    A Scranton resident’s credit rating is determined by taking into account two key factors — the FICO score and the DTI ratio. The FICO score is calculated through a formula that uses relevant items in the borrower’s credit history and comes up with a score between 300 and 850. The DTI is the debt-to-income ratio, which is the income left after the borrower has settled all their minimum loan payments per month.

  • Can Scranton borrowers get a Freddie Mac refinance?

    Yes, a Scranton borrower can obtain Freddie Mac refinancing, which is known as a Freddie Mac Enhanced Relief Refinance. This mortgage type provides an opportunity to a borrower with a current Freddie Mac mortgage who pays on time but could not take advantage of Freddie Mac’s standard no cash-out refinancing since the new mortgage exceeds their maximum loan-to-value limits.

  • What does it mean for a Scranton resident if they are offered a 2/1 buy down mortgage?

    A 2/1 buy down mortgage lets Scranton borrowers qualify for interest below existing market rates to allow them to borrow more. The rate rises by 1% at the close of the first and second years. Afterward, it stays fixed until the loan ends. Borrowers usually refinance after the second year for ideal long-term interest rates. Even so, keeping their original loan for at least three years lets them maintain a rate along original market conditions.

  • What does assumability mean for Scranton refinance borrowers?

    An assumable Scranton mortgage allows homeowners to transfer their loan to a new buyer. This process generally entails a need to check on the new borrower’s credit, and there may be a fee charged by lenders to complete the assumption. An exception could apply to mortgages with due-on-sale clauses; they may not be qualified for an assumption.

  • 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.