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2024

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Best Mortgage Refinance Companies in Lubbock

Our Recommended Top 6

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 Lubbock 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.

120

Reviewed

74

Curated

6

Top Picks

Learn about our selection process.

Providers

featured provider = Featured Provider

Website
5703 114th Street, Lubbock, TX 79424
  • Reverse Mortgages
  • NMLS #: 39166

Why choose this provider?

City First Mortgage Services, LLC is a mortgage brokerage firm serving Lubbock and the surrounding communities for more than 20 years. Its credit advisors are locally-placed and are knowledgeable in underwriting, inspections, and contract and mortgage law. City First Mortgage Services assists offers financial options to clients looking to boost their retirement income, make major purchases, reduce or consolidate debt, and build a cash reserve for emergencies. Some of its services include adjustable-rate mortgages, fixed-rate mortgages, Hybrid ARMs, 2/1 but down mortgages, and reverse mortgages.

License Verified:

License: 3117

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 (4)
Facebook
5.0 / 5 (3)

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
3223 South Loop 289, Lubbock, TX 79423
  • Reverse Mortgages
  • NMLS #: 39166

Why choose this provider?

First Source Capital Mortgage, Inc., is a refinance firm serving the community in Lubbock and nearby areas. It was founded during a challenging time for commercial real estate owners and developers and has been in continuous operation since 1993. It offers an array of loan options including residential mortgage, multifamily and commercial real estate, country home mortgage, farm and ranch, and recreational land loans. Its team of loan officers has decades of experience in various types of properties.

License Verified:

License: 217672

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 (8)
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.
3.8
Responsiveness
Friendliness
Helpfulness
Detail
––

Website
2034 82nd Street, Lubbock, TX 79423
  • Reverse Mortgages
  • NMLS #: 39166

Why choose this provider?

Security Mortgage Lubbock is a mortgage refinance company that serves clients in Lubbock. The company offers several mortgage loan options for homebuyers and homeowners who want to refinance their mortgages, including fixed-rate loans, adjustable-rate loans, FHA loans, and VA loans. It also maintains a working relationship with various lenders to help clients get the loan programs that suit their needs. Security Mortgage Lubbock is also familiar with the home buying and mortgage processes that cover downpayment and closing costs.

License Verified:

License: 844496

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 (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
––

Website
5120 29th Drive, Lubbock, TX 79407
  • Reverse Mortgages
  • NMLS #: 39166

Why choose this provider?

Fil-American Mortgage Services delivers mortgage refinance solutions to residents in Lubbock. Its team of home loan professionals aims to help its clients achieve the home of their dreams. They handle loans for home purchase, home equity, and home refinance concerning single and multi-family homes, condominiums, townhouses, and manufactured homes. Mortgage rate options include fixed-rate, adjustable ARMS, and graduated payments. Fil-American Mortgage gives advice on paying discounts to lower interest rates and any viable option to reduce monthly mortgage payments.

License Verified:

License: 899535

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.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
12419 Quaker Avenue, Lubbock, TX 79424
  • Reverse Mortgages
  • NMLS #: 39166

Why choose this provider?

Benchmark Mortgage - Lubbock is a home loan lender helping clients in the great West Texas area. The locally managed mortgage branch offers an array of loan products, including fixed and adjustable-rate mortgages, VA, FHA, and USDA loans. It also provides jumbo loans, conventional loans, refinancing options, and renovation loans. Additionally, it supports local organizations, such as Meals on Wheels and Red Day Clean Up, and it is one of the winners of the 2020 Best of Lubbock award by AJ Media - Lubbock Avalanche-Journal Advertising.

License Verified:

License: 2143

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 (259)
Facebook
5.0 / 5 (6)
Yelp
4.0 / 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

Website
6604 Frankford Avenue, Lubbock, TX 79424
  • Reverse Mortgages
  • NMLS #: 39166

Why choose this provider?

Spirit Mortgage is a locally owned mortgage refinance company that serves clients in Lubbock. The company offers a variety of loan programs for clients, including fixed-rate mortgage loans, adjustable-rate mortgage loans, FHA loans, VA home loans, and USDA home loans. Its team of mortgage loan officers has always been focused on serving the financial needs of West Texas communities. Spirit Mortgage traces its origins back to 1907 when founder Ray M. Bain established The First State Bank of Dimmitt.

License Verified:

License: 405716

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.
4.3
Facebook
4.3 / 5 (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.
3.8
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.
  • What are the fess associated with mortgage refinancing in Lubbock?

    The typical fees Lubbock homeowners may have to pay during a mortgage refinance include the application fee, which varies between $250 and $500; an origination fee that equates to 1% of the loan's value; and an appraisal fee that ranges from $300 to $600. Skilled loan officers play a pivotal role in enhancing homeowners' financial prospects by assessing affordability and aiding borrowers in evaluating the financial viability of refinancing based on their individual circumstances.

  • At what point should residents of Lubbock consider refinancing their current mortgage?

    Lubbock homeowners often find it advantageous to consider refinancing when mortgage rates are at least 2% lower than their existing loan rates. However, even a more modest 1% difference in interest rates could present a viable opportunity. Such a reduction has the potential to lower borrowers' monthly mortgage payments, with actual savings influenced by factors like income, loan amount, and fluctuations in interest rates.

  • Which cash-out refinancing regulations should homeowners in Lubbock be mindful of?

    In accordance with Texas regulations, lenders are restricted from imposing closing costs that exceed 2% of the loan amount for homeowners in Lubbock, but this limitation does not extend to third-party closing expenses, such as attorney fees, property appraisals, and title insurance. The newly acquired loan amount must not exceed 80% of the home's appraised value, and the option for a cash-out refinance is accessible to homeowners only if they've maintained their existing mortgage for a minimum of six months.

  • What are the mortgage and refinance rates in Lubbock?

    In Lubbock, the mortgage rates stand at 7.051% for a 30-year fixed loan, 6.132% for a 15-year fixed loan, and 7.815% for a 5-year adjustable-rate mortgage. Mortgage rates can vary widely based on a variety of factors, including the lender, the borrower’s credit score, the type of loan, the loan amount, and prevailing market conditions. To obtain the most recent information on refinancing rates, it is advisable to directly reach out to local financial institutions.

  • What benefits does refinancing an existing mortgage in Lubbock with FHA or VA loans offer?

    The FHA and VA loans are backed by the Federal Housing Administration and the Department of Veterans Affairs, respectively. While these agencies do not directly originate loans, they provide backing to approved Lubbock lenders in case of mortgage defaults. In contrast to conventional loans, FHA and VA loans enable borrowers to allocate a greater portion of their monthly earnings to debt payments.

  • 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.