Loan officers that work for the best mortgage lenders for refinancing

Best Mortgage Lenders For Refinancing

So who are the best mortgage lenders for refinancing?

To determine that we need to establish what is important to a homeowner when he or she looks to refinance their current mortgage. For some people, it’s all about the mortgage rate; for others, it’s more about the service, and then there are others who want both a great mortgage rate and great customer service.

Everyone is different in terms of what’s important to them, but we can provide some important guidelines to help you find the best mortgage lenders.

Keys To Finding The Best Mortgage Lenders

Here are the keys to finding a company to work with on your next refinance;

  • Independent research
  • Ask questions, and get answers
  • Follow industry-pro tips for an easy transaction

Below, I’ll discuss each importance in detail, which will help you find the best lenders to work with.

Independent research

Here are some independent research suggestions you can use to help you find the best mortgage lenders for refinancing.

Credible Online Tools

Keep in mind that you can do a lot of independent research with the Better Business Bureau (BBB), the Business Consumers Alliance (BCA), Zillow, Yelp, the Nationwide Mortgage Licensing System (NMLS), and your state licensing board (like the California Department of Real Estate). Finding the best mortgage lenders to work with takes time and effort.

Spending fifteen to thirty minutes online doing your own research could really make a difference in finding the best mortgage lenders. Look for the top-rated companies and avoid those with a significant amount of poor reviews.

Stay Away From Craigslist

When looking for the best mortgage lenders for refinancing, I suggest you stay away from Craigslist or any other website that doesn’t verify reviews. The risks are too great, and there are other sources you can use.

Ask A Family Member Or Friend

The second part of your independent research is to ask a family member or friend for a referral. If a family member or friend has had an experience with a lender you are considering (good or bad) their experience will be helpful in your determination of which lender to work with.

Do You have a question or need a quote?

Contact Kevin

Low rates, fast closings, and exceptional service.

Five important questions to ask

Here are five important questions I suggest homeowners ask before moving forward with a loan application.

Does the mortgage company have a top rating with the Better Business Bureau (BBB), a top rating with the Business Consumers Alliance (BCA), or a similar consumer-focused industry group?

As mentioned using a top-rated company is really one of the most important steps in the process of finding the best mortgage lenders. Companies that have a solid reputation that’s independently verifiable are out there; you just need to spend a little time looking for them.

Does the loan officer have a long, well-established track record in the mortgage industry that you can independently verify with the Nationwide Mortgage Licensing System (NMLS) and other websites like Yelp and Zillow?

Like any other company, it’s normal to see new people hired, but when it comes to your mortgage, you’ll want to stick with a loan officer who has the experience and knowledge to ensure you’re able to lock in a low rate.

Does the mortgage company offer a wide variety of programs, including both fixed-rate mortgages and adjustable-rate mortgages?

Sometimes, people change their minds, so it’s important that the lender you choose has multiple options available.

Does the loan officer take the time to clearly explain the quote and answer any questions you have?

I think a huge red flag is when a loan officer avoids answering questions in detail and/or fails to follow up in a timely manner. If you are working with a loan officer who is not clearly answering your questions or, worse yet, not even responding, then I suggest you move on and locate another person to work with.

Does the quote that’s provided include the total fees for the transaction?

Far too often, this happens: a borrower jumps at the opportunity to lock in terms when they hear, “It’s a no-point loan,” and they fail to ask the most important question: “What is the total amount for fees, everything included?”

The reason why that’s the most important question to ask (when it comes to understanding the fees you are paying) is that no-point loans can sometimes have thousands and thousands of dollars in fees. In some cases, a lender can lower the points and jack up the junk fees because many people are more concerned with points.

Additional considerations

Some additional considerations when searching for the best mortgage lenders.

There are other criteria to add to that list for different circumstances; like someone with bad credit will probably want to find a mortgage company for people with bad credit and a loan officer that is not only going to help them obtain a great mortgage but also provide some education on how to repair/rebuild the homeowner’s credit.

A homeowner looking to do a streamlined FHA refinance will probably want to find a loan officer who offers that loan program and has experience closing FHA loans.  How about someone who wants to refinance a rental property?

This person needs to find a mortgage company and a loan officer with extensive experience financing non-owner-occupied properties.

Industry pro tips for an easy transaction

There are two important parts to a refinance transaction; the loan officer and you.

Once you’ve found a great mortgage lender to work with, you’re ready to move forward. The loan officer’s ability to deliver relies heavily on the borrower’s participation.

Here are the things you can do to ensure a fast, efficient, and smooth loan process:

  • Be responsive and follow up within 24 hours to emails and phone messages
  • Turn in your documentation in a timely manner
  • When you turn in documentation, send in exactly what the loan officer asked for
  • Sign the necessary disclosures quickly
  • Avoid travel during the process
  • Do not let anyone run your credit during the mortgage process

These tips are really important. Being responsive is key.

One of the biggest delays in the mortgage process is a borrower taking too long to respond and/or borrowers not sending in their documentation in a timely manner.

And never, ever let anyone run your credit during the process. Obtaining new credit/debt is problematic if you do it while you’re in the process of obtaining a new mortgage.

Following these five simple suggestions will make your transaction much more enjoyable, much more efficient and you’ll be able to close quickly.

Do You have a question or need a quote?

Contact Kevin

Low rates, fast closings, and exceptional service.

Bottom line on the best mortgage lenders for refinancing

Whatever your situation, take the time to do some research to ensure you are working with a reputable mortgage company.  Finding the best mortgage lenders doesn’t have to be difficult.

If you live or your moving to California, we would love the opportunity to earn your business, and be your partner for your next refinance. You can contact me directly at 1-800-550-5538 or complete one of my website contact forms.

Our company, JB Mortgage Capital, Inc., has a top rating with the Better Business Bureau, a wide variety of loan programs to offer, and industry-low rates.

Loan Officer Kevin O'Connor

About The Author

Loan Officer Kevin O'Connor has over 17 years of experience as a Mortgage Loan Originator and is a trusted resource for mortgage education and information. He's the content creator of K.O. Home Loan Solutions and is licensed by the state of California and the Nationwide Mortgage Licensing System. He has a top rating with the Better Business Bureau, Google, Yelp, and Zillow. You can contact him at 1-800-550-5538. CA DRE #01499872 / NMLS #247447