Expertise.com

2024

Last updated:

Best Mortgage Refinance Companies in Sioux Falls

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 Sioux Falls 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.

84Reviewed

52Curated

4Top Picks

Learn about our selection process.

Providers

featured provider = Featured Provider

Website
3905 W 49th St, Sioux Falls, SD 57106
  • New Construction
  • Reverse Mortgages

Why choose this provider?

Kevin Carlson is a mortgage banker that caters to clients in and around Sioux Falls. He assists homeowners in consolidating debt, funding property upgrades, lowering interest rates, and shortening mortgage terms through the refinancing process. He is familiar with the FHA, VA, and USDA lending programs. Carlson has worked in the mortgage market for more than two decades. He has a YouTube channel with informative films on various topics, including South Dakota's property tax system and origination points.

License Verified:

License: 22004

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 (76)
Google
5.0 / 5 (73)
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
5010 S Minnesota Ave, Sioux Falls, SD 57108
  • New Construction

Why choose this provider?

Tailored Mortgage Group is a Sioux Falls-based independent brokerage that works with clients in and around the local area. It provides advice to individuals looking to refinance their properties. It has experience assisting owners of townhouses, condominiums, and manufactured homes. Its team also offers reverse mortgages to help senior homeowners obtain cash without the need to sell their property. Its owners, Mitch Wachter and Becky Amdahl, have more than two decades of collective experience in the mortgage industry.

License Verified:

License: 1827308

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 (76)
Facebook
5.0 / 5 (28)

Website
6330 S Western Ave, Suite 110, Sioux Falls, SD 57108
  • New Construction

Why choose this provider?

Rick Van Den Top is a Nexa Mortgage loan advisor who caters to individuals and families in Sioux Falls. He collaborates with applicants in analyzing various loaning and refinancing options that provide opportunities for new home purchases, debt payments, and reduced monthly payments. He follows up on specific requirements and updates concerning an applicant's credit score and financial capabilities in preparation for pre-qualifications and application submissions. His consultations involve assessments of changes in interest rates and property prices within the local mortgage market.

License Verified:

License: 35048

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
4.7 / 5 (26)
Facebook
5.0 / 5 (14)

Website
3800 W Technology Circle Suite 201, Sioux Falls, SD 57106
  • New Construction

Why choose this provider?

Fairway Independent Mortgage Corporation - The Heartland Branch is a company that helps homeowners in Sioux Falls get better options for their existing loans through refinancing. It helps consolidate debts, get lower rates or shorter terms, and obtain cash for a home improvement project or other investment opportunities. It also offers conventional, FHA, VA, USDA-Rural, and jumbo loans and reverse mortgages. The company's loan officers strive to make sure that clients get the right mortgages for their needs.

License Verified:

License: 400287

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 (91)

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.
  • How high are the average mortgage rates in Sioux Falls?

    Average mortgage rates in Sioux Falls and the rest of the state have been trending downwards since 2018 for 30-year fixed, 15-year fixed, 7/1 adjustable, and 5/1 adjustable mortgages. In addition, home values have increased by 13.8% since 2022, with the average home value in South Dakota being $306,532.

  • Can Sioux Falls physician mortgage loan borrowers refinance their homes?

    Those in Sioux Falls who bought their homes through a physician mortgage loan may still refinance their homes. Certain loan programs, including NEO's Physician Home Loans, carry benefits such as allowing borrowers to take out a cash-out refinance at a 95% loan-to-value ratio for up to $1 million. Physician mortgages are offered to medical practitioners, such as doctors, nurses, dentists, and veterinarians.

  • What are the benefits of a Sioux Falls VA streamline refinance?

    One of the benefits of refinancing one’s VA home loan in Sioux Falls is that there is no appraisal or credit underwriting package required. The closing costs of a VA streamline refinance, otherwise known as a VA interest rate reduction refinance loan, can also be folded into the new loan.

  • What are the fees associated with Sioux Falls mortgage refinancing?

    Homeowners in Sioux Falls who wish to refinance their mortgages will have to pay for the costs of the application, loan origination, appraisal, survey, title search and insurance, and attorney. They may also have to pay property taxes and Prepayment penalties. In 2021, the average closing cost in South Dakota was $2,388.

  • What are the documents required for a Sioux Falls refinance?

    Those in Sioux Falls who wish to refinance their homes will need to submit a copy of their homeowner’s declaration page, their most current mortgage loan statement, debt documentation, pay stubs for the past few months, and tax information from the past two years. Those who are self-employed may submit their profit and loss statements and 1099-MISC information.

  • 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.