Best in Mortgage Refinancing in 2019
One major mistake in mortgage refinancing is choosing the wrong company. Instead of enjoying the great benefits of a refinance, you are stuck with more closing costs, hidden fees, and high interest rates.
As such, picking the right lender is important. You will only achieve your refinancing goals with the right provider. Check out the suggestions below and go for the one that meets your needs best.
- Carrington Mortgage Services
Personal care and attention makes Carrington a good provider for mortgage refinancing. The process starts with you identifying your refinancing goal: to lower interest rates, lower payments or consolidate debt, remodel your home, or get cash out. From here, in-depth advice is provided to achieve this personal goal, and in every step of the way, you will have a Carrington professional guiding you throughout the process.
- Bank of America
If you prefer convenience over a personal touch, go with Bank of America. You can complete your mortgage refinancing application online. It is easy, convenient, and comprehensive. Simply upload the documents, e-sign them, and you are done. Bank of America also offers a wide range of refinancing products like fixed rate loans, ARMs, jumbo loans, FHA loans, and VA loans. Further, if you bank with them and are a member of Preferred Rewards, you may also be eligible to receive a $200 to $600 reduction of mortgage origination fee.
Compared to its competitors, SoFi proves to be more lenient as it goes beyond the traditional credit score and base your qualification on high-tech algorithms using a variety of criteria. They are popular with student loans but are increasingly taking market share in mortgage refinancing. You can also check your pre-qualification in two minutes without affectng your credit score and get an additional 0.125% rate discount on your mortgage refinance if you already have an existing SoFi loan.
The mortgage refinancing process is completely digital with Lenda. The user experience is easy, quick, and convenient. You also have plenty of options in terms of how to use your refinance. Choices include to cash out on home equity, lower your rate or shortern your term, switch to a fixed rate mortgage, remove private mortgage insurance, get a different home loan, or buy out a co-owner. Lenda’s suggestion engine is also very useful in exploring your refinance options and how you can possibly qualify for a lower rate.
- Rocket Mortgage
Rocket Mortgage is customer-centric and completely online. You can apply online and link all your financials and property information so that you do not have to manually gather and upload all of the documentation. Also, not only can you browse your refinance options conveniently, you can even customize them! This mortgage refinancing provider is definitely a good choice if you are looking for convenience and flexibility.