Refinancing your mortgage is a smart financial decision that can potentially save you thousands of dollars over the life of your loan. However, navigating the refinancing process can be daunting, especially in a bustling city like Phoenix, where numerous lenders and brokers compete for your business. To help you make an informed decision, we’ve meticulously researched and compiled a list of the top mortgage refinance companies in Phoenix. Whether you’re looking to lower your interest rate, tap into your home’s equity, or switch to a more favorable loan term, our guide will provide you with the information you need to find the best fit for your unique circumstances.
Top Mortgage Refinance Companies in Phoenix
Desert Capitol Services LLC
- Address: 20860 N. Tatum Blvd. Ste. 275, Phoenix, AZ 85050
- License: 183095
- Specialty: Residential loans, mortgage refinancing options
Why Choose Them: Desert Capitol Services LLC is a trusted name in Phoenix, offering a wide range of mortgage refinancing options tailored to meet the needs of homeowners. Their team of experienced professionals guides clients through the entire refinancing process, from understanding loan types to securing the best home loan program. With an interactive calculator on their website, clients can quickly evaluate potential financing options and make informed decisions.
Handshake Home Loans
- Address: 16260 North 71st Street, Scottsdale, AZ 85254
- License: 1766673
- Specialty: Conventional loans, FHA loans, jumbo loans, VA loans
Why Choose Them: Handshake Home Loans is a reputable mortgage broker that caters to residential investors and borrowers in the Phoenix area. Led by chairman Joey Raymond, the company excels in helping homeowners reduce their interest rates and monthly mortgage payments through tailored refinancing packages. With a diverse range of loan products, including conventional, FHA, jumbo, and VA loans, Handshake Home Loans provides personalized solutions to meet each client’s unique financial goals.
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Agave Home Loans
- Address: 3230 E Broadway Rd Ste B220, Phoenix, AZ 85040
- License: 1951574
- Specialty: Conventional, FHA, non-qualifying mortgage, and VA loans
Why Choose Them: Agave Home Loans is a trusted mortgage brokerage firm serving Phoenix and the surrounding areas. With a team of professionals boasting diverse backgrounds in finance and hospitality, the company offers a variety of refinance loan options to suit different needs. Co-owner Marshall Gottlieb brings his expertise in finance and investments, ensuring clients receive personalized guidance throughout the refinancing process.
Road to Home Mortgage, LLC
- Address: 11811 N Tatum Blvd suite 3031-4b, Phoenix, AZ 85028
- License: 1752943
- Specialty: VA home loans, mortgage advisors
Why Choose Them: Road to Home Mortgage, LLC is a mortgage specialist with licenses to operate in Arizona, California, Oregon, and Nevada. The company’s team of knowledgeable mortgage advisors provides comprehensive assistance to clients looking to buy a new home or refinance an existing mortgage. Additionally, Road to Home Mortgage, LLC is dedicated to supporting veterans and service members by offering VA home loans, making the refinancing process more accessible to those who have served our nation.
AZ Mortgage Broker
- Address: 11021 North 38th Place, Phoenix, AZ 85028
- License: 80917
- Specialty: Rate-and-term, cash-out, and cash-in refinancing
Why Choose Them: With over 20 years of experience in the Phoenix market, AZ Mortgage Broker is an independent mortgage broker dedicated to helping clients acquire and refinance mortgages. Their loan officers are well-versed in guiding clients through various refinancing options, including rate-and-term, cash-out, and cash-in refinancing. By partnering with a network of lenders, AZ Mortgage Broker ensures clients have access to a diverse range of loan packages, increasing their chances of finding the perfect fit.
Jimmy Vercellino
- Address: 5050 North 40th Street, Phoenix, AZ 85018
- License: 184169
- Specialty: Conventional, jumbo, VA, and FHA loans
Why Choose Them: Jimmy Vercellino is a highly regarded mortgage originator in Phoenix, offering a comprehensive range of residential mortgage solutions. His team at Goldwater Bank Mortgage Division specializes in assisting clients who wish to lower their mortgage interest rates through refinancing. With a focus on securing interest rates that align with clients’ financial goals, Vercellino and his team work diligently to ensure a smooth and efficient refinancing process.
Brightside Mortgage, LLC
- Address: 20860 North Tatum Boulevard, Phoenix, AZ 85050
- License: 1711912
- Specialty: Debt consolidation, equity cash-out, fixed and adjustable rates
Why Choose Them: Brightside Mortgage, LLC is a reputable mortgage refinance company in Phoenix, offering a diverse selection of mortgage products. With a team of experienced loan officials, the company helps homeowners consolidate debts, cash out on equity, or find better interest rates through refinancing. The user-friendly website allows for easy submission of applications and supporting documents, streamlining the refinancing process.
Copperstate Home Loans, LLC
- Address: 2432 W. Peoria Ave, Suite 1121, Phoenix, AZ 85029
- License: 1982090
- Specialty: Fixed-rate, adjustable-rate, conforming, jumbo, and super jumbo mortgages
Why Choose Them: Copperstate Home Loans, LLC is a respected mortgage broker serving the residents of Phoenix. With a focus on home refinancing, the company offers a range of loan options, including fixed-rate, adjustable-rate, conforming, jumbo, and super jumbo mortgages. Additionally, Copperstate Home Loans, LLC carries FHA, USDA, and VA loans, ensuring a comprehensive selection to meet diverse borrower needs.
PHX Lending
- Address: 10429 South 51st Street Suite 275, Phoenix, AZ 85044
- License: 198008
- Specialty: Cash-out loans, conventional, FHA, VA, jumbo, HELOC, and non-QM
Why Choose Them: PHX Lending is a prominent mortgage broker in Phoenix, specializing in assisting homeowners considering mortgage refinancing through cash-out loans. With access to over 20 wholesale lenders, the company offers competitive mortgage rates and a wide range of home loan and home equity products, including conventional, FHA, VA, jumbo, HELOC, and non-QM loans. Owner-broker Dan Munson, with over 13 years of experience and 4,000 funded mortgage transactions, champions a personalized approach to mortgaging by working directly with clients.
Conclusion
Refinancing your mortgage can be a smart financial move, but navigating the process can be challenging, especially in a bustling city like Phoenix, where numerous lenders and brokers compete for your business. By carefully researching and selecting the right mortgage refinance company, you can ensure a smooth and efficient process while securing the best terms and rates for your unique situation.
Our comprehensive guide has provided you with a curated list of the top mortgage refinance companies in Phoenix, each with its own strengths and specialties. Whether you’re looking to lower your interest rate, tap into your home’s equity, or switch to a more favorable loan term, these companies have the expertise and resources to guide you through the refinancing process.
Remember, refinancing is a personal decision that should be based on your specific financial goals and circumstances. Take the time to evaluate your options, compare rates and fees, and choose the company that best aligns with your needs.
By following the tips and insights provided in this article, you’ll be well-equipped to make an informed decision and potentially save thousands of dollars over the life of your loan. Don’t hesitate to reach out to these top mortgage refinance companies in Phoenix and take the first step towards a more financially advantageous mortgage.
Frequently Asked Questions (FAQs)
What is the refinancing process like in Phoenix?
The refinancing process in Phoenix typically follows these steps:
- Consultation with a lender to determine if refinancing is the best option based on your current financial situation.
- Completion of a mortgage application by gathering and submitting the required documents.
- Appraisal of your property to determine its current market value.
- Underwriting process, where the lender reviews your application and supporting documents.
- Closing process, where you sign the new mortgage documents, and the old mortgage is paid off.
What is a no-cost refinance?
A no-cost refinance in Phoenix means that your lender will cover all upfront expenses and one-time closing costs, including appraisal, escrow, title, underwriting, and other refinancing-related fees. The lender achieves this by offering a lender credit, which you can obtain by accepting a slightly higher interest rate.
Why should I refinance my mortgage in Phoenix?
There are several reasons why you might consider refinancing your mortgage in Phoenix:
- Lower interest rates: If mortgage rates have dropped since you took out your current loan, refinancing can help you secure a lower interest rate, reducing your monthly payments and overall loan cost.
- Shorten the loan term: Refinancing from a 30-year mortgage to a 15-year or 20-year mortgage can help you pay off your loan faster and save on interest costs, albeit with higher monthly payments.
- Cash-out equity: If you’ve built up substantial home equity, a cash-out refinance allows you to tap into that equity and receive a lump sum of cash, which can be used for home improvements, debt consolidation, or other financial needs.
- Switch loan types: You may want to switch from an adjustable-rate mortgage (ARM) to a fixed-rate mortgage, or from a conventional loan to an FHA or VA loan, depending on your current situation and goals.
What documents do I need to refinance my mortgage in Phoenix?
To refinance your mortgage in Phoenix, you’ll typically need to provide the following documents:
- Proof of income (W-2 forms, pay stubs, tax returns)
- Employment verification
- Bank statements and asset documentation
- Credit report and credit score
- Current mortgage statement
- Home appraisal (arranged by the lender)
- Homeowner’s insurance policy
How much equity do I need to refinance in Phoenix?
While mortgage refinancing requirements can vary among lenders, most will require you to have at least 20% equity in your home to qualify for a conventional refinance. If you have less than 20% equity, you may still be eligible for an FHA or VA refinance, which typically requires less equity.
Can I refinance with bad credit in Phoenix?
It’s possible to refinance with bad credit in Phoenix, but your options may be more limited, and you may face higher interest rates or additional fees. Some lenders specialize in working with borrowers who have less-than-perfect credit, but they may require compensating factors, such as a higher income or more home equity.
How long does the refinancing process take in Phoenix?
The refinancing process in Phoenix can take anywhere from 30 to 60 days, depending on various factors, such as the lender’s workload, the complexity of your application, and the timeliness of the appraisal and underwriting processes. It’s advisable to plan for potential delays and be prepared to provide additional documentation if requested.
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