Expertise.com
2024

Last updated:

Best Mortgage Refinance Companies in Pharr

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 Pharr 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.

45

Reviewed

28

Curated

4

Top Picks

Learn about our selection process.

Providers

featured provider = Featured Provider

Website
2023 S Border Ave, Weslaco, TX 78596
  • New Construction

Why choose this provider?

Arca Mortgage provides refinancing solutions for property owners in Pharr and the surrounding locations. The mortgage firm advises refinancing when rates are 2 percent lower than the current rate on a loan. Its team assists in converting a mortgage to a VA loan, which has no minimum credit score requirement, no down payment, flexible terms, and loan amounts that vary depending on where the borrower lives. Additional programs are USDA, conventional, and FHA loans. Arca Mortgage also offers loans for commercial and agricultural properties.

License Verified:

License: 2327889

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)

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
258 S Sam Houston Blvd, San Benito, TX 78586
  • Commercial Loans

Why choose this provider?

American Mortgage Loans comprises consultants specializing in residential mortgages. It helps borrowers in the Pharr metro, catering to the loan needs of both first-time and experienced buyers. The provider assists clients with refinancing and purchasing. It offers a variety of loan options, such as fixed-rate, adjustable-rate, FHA, and VA loans. One customer has commended the staff at American Mortgage Loans for constantly following up with the client, while another praised the company for answering their queries accurately and honestly.

License Verified:

License: 2050536

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 (11)
Facebook
5.0 / 5 (4)

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
McAllen, TX 78501
  • Reverse Mortgages

Why choose this provider?

Canopy Mortgage helps clients in Pharr who are looking to purchase properties or refinance their homes. Through mortgage refinancing, it enables clients to lower their monthly payments, attain shorter terms, and cash out to pay high-interest debts or to fund renovation projects. It helps borrowers achieve their financial and homeownership goals through its three-step process of loan eligibility assessment, approval, and deal closure. Canopy Mortgage's owner, Danny Nassar, has been in the mortgage industry for over a decade.

License Verified:

License: 1359687

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 (327)
Facebook
4.1 / 5 (30)

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
1210 E Tyler Ave, Harlingen, TX 78550
  • New Construction
  • Reverse Mortgages

Why choose this provider?

Vetted Notes, LLC, caters to clients across the Pharr metro and the neighboring cities. Its team serves individuals and families wishing to refinance their loans to obtain cash from their home's equity, allowing them to obtain funds for personal and home improvement expenses. The company also offers various loan options, such as FHA, VA, conforming, and jumbo, that suits clients' home-buying needs. Its team provides assistance to individuals wishing to purchase residential properties in rural communities.

License Verified:

License: 2009486

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 (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.
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.
  • Do lenders in Pharr approve refinancing for customers who have been self-employed for less than a year?

    Refinancing or securing a new home loan is unlikely to be approved by lenders in Pharr for individuals with less than one year of self-employment record. Generally, lenders require a minimum of one year of self-employment or a two-year history in a comparable field. In some cases, lenders might consider a year of related employment paired with a year of formal education or training as an acceptable work history.

  • What requirements do self-employed borrowers in Pharr need to submit to refinance a loan?

    Some of the documents that a lender might request from self-employed borrowers in Pharr are the following:

    • Emails or letters from the present clients, a CPA, and a recognized professional organization that can vouch for the membership.
    • State or business licenses.
    • Proof of insurance for the business.
    • Income authentication.
    • A Doing Business As.
    • Bank statements.
    • Personal tax returns, including W-2s if borrowers receive payments through a corporation.
    • Profit and loss statements.
  • Is it possible to pursue a cash-out refinance mortgage in Pharr after residing in the house for only six months?

    Generally, a borrower in Pharr is required to have owned the home for a minimum period of 12 months, but an exception may be applied if the individual has inherited the property. Another exception is if they've been granted ownership through one of the following situations: divorce, separation, or dissolution of a domestic partnership.

  • Do lenders in Pharr require a refinance letter as part of the application process?

    A refinance letter is not always mandatory in Pharr. However, providing a letter of explanation for a cash-out refinance can offer lenders valuable insight into the borrower's circumstances and requirements. There are instances wherein this letter can play a pivotal role in determining whether the application gets approved or denied by the mortgage lender.

  • How soon can borrowers be eligible to refinance a mortgage in Pharr?

    Generally, borrowers in Pharr need to maintain their mortgage loan for a minimum of six months before being eligible for refinancing. If borrowers intend to refinance with the same lender, it is common practice to wait about six months in accordance with established minimum requirements. This waiting period does not impede individuals from considering alternative refinancing programs with a different lender.

  • 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.