2024
Last updated:
Our Recommended Top 14
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Our goal is to connect people with the best local professionals. We scored Charlotte 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.
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Providers
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Featured Provider
License: 102837
Why choose this provider?
Fairway Independent Mortgage Corporation is an approved lender founded in 1996, providing home loans in Charlotte. It offers mortgage refinancing services and clients can opt for cash-out refinance, adjustable-rate mortgage, or fixed-rate mortgage. Its loan programs also include reverse mortgage, and conventional, jumbo, USDA, and FHA loans. The lender also caters to first-time homebuyers, eligible veterans, and those wanting to renovate their homes throughout North and South Carolina. Fairway Independent Mortgage Corporation has reached $17.5 billion funded mark in 2016.
- Reverse Mortgages
License: 1190352
Why choose this provider?
Mecklenburg Mortgage offers services to clients in Charlotte. It provides mortgage refinancing solutions for individuals who are planning to change their loan terms, change their rate type, lower interest rate, or cash out. It helps clients qualify for a refinance loan, examining the payment history of their current home, their property's current value, and their credit score and credit history. Jeff Muth, the president of Mecklenburg Mortgage, has been a mortgage professional in Charlotte since 2003.
- New Construction
License: 184302
Why choose this provider?
DHL Mortgage caters to the needs of clients in Charlotte and its neighboring metropolitan areas. Its team of professionals offers a wide array of lending programs, including refinance and reverse mortgages, as well as home equity loans. The firm also provides FHA, VA, jumbo, construction, and investor loans. In addition, it handles conventional fixed-rate and adjustable-rate mortgages. The company’s managing partner, Benjamin Larrick, has more than a decade’s worth of experience in the mortgage industry.
- New Construction
License: 2322797
Expertise.com Rating
Review Sources
- 5.0 (9)
Why choose this provider?
Grow Mortgage offers services to individuals in Charlotte, providing refinancing solutions to people looking to change their current loan program. It offers conventional mortgages for individuals planning to purchase an investment property, a primary residence, or a vacation home. It also provides FHA, VA, and non-QM loans. The company assists clients throughout the homebuying process, including pre-approval, searching for a property, and negotiating an offer. Reid Mckee, a senior mortgage planner with Grow Mortgage, has been a loan officer since 2016.
- Reverse Mortgages
License: 1661781
Why choose this provider?
Loan Pronto serves clients with mortgage needs in Charlotte. Its team of lending professionals assists customers in refinancing their mortgages in order to obtain lower interest rates and shorter terms. They also help with combining multiple mortgages for easier repayments and converting current loan programs from adjustable to fixed rates. The company aims to provide a timely closing by enabling borrowers to sign necessary documents from the comfort of their own devices. Loan Pronto offers various refinancing programs, such as FHA Streamline, IRRRL, and HARP.
- New Construction
License: 1838270
Why choose this provider?
NoSo Funding assists Charlotte clients in refinancing their existing mortgages with the help of a new mortgage. The company's home refinancing process begins with data collection via the refinance analysis request, followed by providing clients with options, comparing mortgage interest rates, and allowing the client to choose which works best. Ricky Young, the owner of NoSo Funding, is a loan officer with experience in assisting people who are buying, selling, refinancing, or building their dream homes.
- Reverse Mortgages
License: 2020757
Why choose this provider?
Rosegate caters to clients in the Charlotte metro and the surrounding areas. It assists customers who own condominiums, multi-unit homes, single-family residences, and townhouses and are looking to refinance their mortgages. Its refinancing options allow clients to lower their rates and monthly payments or get a cash-out for debt consolidation or home renovation purposes. Its other loan products include conventional, FHA, jumbo, and VA loans. Rosegate brings over 30 years of experience in the industry.
- New Construction
- Reverse Mortgages
License: 842906
Why choose this provider?
Peak Financial Group has been serving the lending needs of real estate professionals, small business owners, individual homebuyers, and builders in Charlotte and its surrounding areas since 2011. The company helps clients manage existing mortgages and cash flow through refinancing. It assists with funding home improvements, paying off debts, consolidating mortgages, covering unexpected expenses, purchasing investment properties, and eliminating PMI. The company is a family-owned and operated business. Its team of loan officers has more than 40 years of combined experience in the mortgage industry.
- New Construction
License: 40030
Why choose this provider?
Leverage Lending Group attends to the refinancing needs of individuals in and around the Charlotte area. Whether clients are refinancing to shorten mortgage terms, cash out from home equity, or reduce interest rates, the brokerage provides various options such as super jumbo, conforming, and FHA loans. Adjustable- and fixed-rate mortgages are also available. Company president Angelo Datseris is a Certified Residential Mortgage Specialist and Association of Independent Mortgage Experts member who has been working in the industry since 2003.
- Reverse Mortgages
License: 2126883
Why choose this provider?
MVR Mortgage Company LLC is a brokerage based in Charlotte. It shares its expertise on mortgage programs and market conditions with homeowners looking at refinancing to obtain reduced interest rates, change mortgage length, or take out home equity. It helps customers compare and choose from 15-year and 30-year fixed-rate, adjustable-rate, VA, FHA, or jumbo loans. Additionally, MVR Mortgage Company provides public access to decision-making aids on its website, including refinancing analysis, payment calculator, and valuation estimate tools.
- Reverse Mortgages
- Refinance
- Purchase
License: 1831391
Why choose this provider?
PrimeLine Capital offers comprehensive assistance to Charlotte-based individuals and families regarding applications for loans and refinancing. Through the agency's partnerships with multiple mortgage companies across the nation, its staff provides clients with a diverse selection of financial programs. It caters to first-time homebuyers and those who seek conventional, jumbo, FHA, and VA loans. PrimeLine Capital is headed by Fernando Escaffi, who utilizes the finance-related knowledge he gained during his tenures at Wyndham Capital Mortgage and Red Ventures.
- Reverse Mortgages
License: 998768
Why choose this provider?
QC Lending is a mortgage company that works with over 20 lenders to serve individuals and families in Charlotte. It offers refinancing services to homeowners who want to adjust their existing monthly mortgage payments based on current interest rates. Its loan officers also help prospective buyers find suitable properties to use as vacation homes, residences, or investment opportunities. The company has over 120 years of experience in the industry and serves 12 states across the country.
License: 2948
Why choose this provider?
Wyndham Capital is a mortgage lending company that has been serving clients in Charlotte since 2001. It provides various mortgage types, including conventional, jumbo, FHA, adjustable-rate, VA, and USDA. It assists those looking to purchase single-family homes, mobile homes, townhouses, and condos. The company also offers refinancing services for lower monthly payments, better terms, or equity cash-outs. Wyndham Capital is headed by Jeff Douglas, who has been in the mortgage industry for over 25 years.
- Multi-Family Loans
- New Construction
- Reverse Mortgages
License: 1236169
Why choose this provider?
Lendscout is a residential mortgage company that serves homebuyers in Charlotte. It guides clients through the loan refinancing steps that include introduction and application, gaining approval, formalizing of loan, preparation of final documents, and signing of paperwork. The staff also offers home mortgage loans and veteran affairs loans. Lendscout is a team of home finance specialists with a combined experience of 45 years in the mortgage lending industry. It contributes to local businesses like Piedmont Culinary Guild.
- New Construction
- Reverse Mortgages
Compare our Top Mortgage Refinance Companies
Name | Expertise Rating | Address | Promotions | Learn more |
---|---|---|---|---|
Fairway Independent Mortgage Corporation - Charlotte | 8832 Blakeney Professional Dr., Charlotte, NC28277 | View More | ||
Mecklenburg Mortgage | 828 East Boulevard, Suite 301, Charlotte, NC28203 | View More | ||
DHL Mortgage | 529 W Summit Ave. #2A, Charlotte, NC28203 | View More | ||
Grow Mortgage | 201 S Tyron St Ste 1450, Charlotte, NC28202 | View More | ||
Loan Pronto | 800 Westmere Avenue, Suite 300, Charlotte, NC28208 | View More | ||
NoSo Funding | 10700 Sikes Place Suit 310, Charlotte, NC28277 | View More | ||
Rosegate | 13860 Ballantyne Corporate Place, Suite 400, Charlotte, NC28277 | View More | ||
Peak Financial Group | 2125 Southend Drive, Suite 451, Charlotte, NC28203 | View More | ||
Leverage Lending Group | 216 N McDowell, Charlotte, NC28204 | View More | ||
MVR Mortgage Company LLC | 2120 Crown Centre Dr, Charlotte, NC28227 | View More | ||
PrimeLine Capital | 200 S. College St. Suite 1810, Charlotte, NC28202 | View More | ||
QC Lending | 1111 Hawthorne Lane 2nd Floor, Charlotte, NC28205 | View More | ||
Wyndham Capital | 4064 Colony Rd. Morrocroft Floor 2, Charlotte, NC28211 | View More | ||
LendScout | 150 Providence Rd Suite 300, Charlotte, NC28207 | View More |
FAQs
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 requirements to obtain an investment property loan in Charlotte?
Investors planning to apply for a property loan in Charlotte must have a debt-to-income ratio of 36% or less and a credit score of at least 620. An investment property loan requires a 25% down payment for multi-family complexes and a 15% to 20% down payment for single-family residences. The investors must also present an estimate of the cost of necessary repairs in order to determine the home's after-repair value and have enough money to cover the mortgages for six months.
How much is the closing cost of residential properties in Charlotte?
The average closing cost for a residential property in Charlotte is $2,802.91. The closing cost, on the other hand, varies depending on the home's purchase price, loan size, applicable concessions, and the homebuyer's credit profile. Closing costs include the lender's title policy, appraisal, home inspection, transfer tax, and settlement fees. Individuals in Charlotte, on the other hand, pay an average of $542.20 in closing taxes.
Who are qualified to apply for Single Family Direct Home Loans in Charlotte?
Families with one to five members must have an income limit of $34,900 to $86,150 to apply for Single Family Direct Home Loans in Charlotte, while families with six to eight members cannot earn more than $57,850 to $105,300. Applicants must have the legal capacity to repay a loan, agree that the acquired property will be their primary residence, and have no sanitary housing. Direct home loan properties in Charlotte are not for commercial use.
How does an appraisal affect mortgages in Charlotte?
In Charlotte, an appraisal is required for mortgage transactions because it determines the property value and assesses the overall condition of the home. An appraisal may affect the loan-to-value (LTV) ratio, which is calculated by dividing the loan amount by the appraised value; thus, if an individual has a lower LTV, such as 50% or 70%, their interest payments may be reduced. An appraisal in Charlotte is based on the property's amenities or characteristics as well as the outcome of the home inspection.
What mortgage programs are available in Charlotte for people purchasing a property that requires repairs?
Fannie Mae HomeStyle renovation and FHA 203k are mortgage options for people looking to buy a property in Charlotte that needs an upgrade or renovation. These mortgage programs allow borrowers to improve their homes before moving in and can save loan approval by increasing the value of these neglected properties. The loan limit for an FHA 203k is $472,030 for single-family homes and $907,900 for four units, while Fannie Mae HomeStyle renovation can be used for garages and swimming pools in Charlotte.
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.
How does mortgage refinance work?
The mortgage refinance process begins with choosing a broker and filling out loan application information. The process continues through underwriting and closing. The new mortgage is then used to pay off and close your original mortgage loan. This leaves you with a new loan and mortgage payment to manage each month.
When should you refinance a mortgage?
If your credit score has improved or mortgage interest rates have dropped, refinancing can potentially save you money. Other reasons to refinance your mortgage include getting a fixed rate instead of an adjustable one or getting a shorter loan term. An increase in your home’s value that can let you access more equity is another reason to refinance.
How much does it cost to refinance a mortgage?
The average cost to refinance a mortgage is $5,000. This amount varies, based on the state and county where the property is located and the loan amount. Common fees incurred when refinancing a mortgage include:
- Appraisal fee
- Broker’s fee
- Credit check fee
- Loan application fee
- Recording fee
- Title search and insurance fee
How soon can you refinance a mortgage?
Some lenders make borrowers wait a minimum of six months before accepting a new mortgage refinancing application. However, when that happens, borrowers can check with other lenders to find one that doesn’t require a wait before refinancing. A mortgage refinance broker can guide you to lenders that allow immediate refinancing.
How long does it take to refinance a mortgage?
The average amount of time it takes to refinance a mortgage is 45 days. In some cases, it may be possible to get it done faster. There also may be times when it takes longer to get a mortgage refinanced.
What is the average closing cost to refinance a mortgage?
The average closing cost when refinancing a mortgage is $4,345. Closing costs may be much higher or lower depending on the amount of money borrowed. If you see an ad that says there are no closing costs, the costs are factored in elsewhere in the terms of the loan.
How often can you refinance a mortgage?
You can refinance a mortgage as often as you like, however, if you refinance frequently, it can cost more in fees than you save on interest. Some reasons for refinancing repeatedly include a sharp drop in interest rates or going through a life event, such as a divorce.
When is it worth it to refinance a mortgage?
It’s worth it to refinance when interest rates drop and refinancing will save you money. It also may be worth refinancing if you need to access some of your home’s equity to cover other expenses. Refinancing may be worthwhile if you're switching from a variable to a fixed rate mortgage.
Can you refinance a mortgage with no closing costs?
You can refinance a mortgage without paying closing costs at the time. However, those costs are still owed and are factored in elsewhere in the financing. Lenders either add the costs to the principal owed or increase the interest rate on your refinanced mortgage loan.
Can you refinance a home equity loan into a mortgage?
You can refinance a home equity loan into a mortgage in some situations. You have to have excellent credit to do this. Additionally, you must have enough equity in your home to qualify for a new mortgage that pays off the existing mortgage and your home equity loan.
Can you refinance a mortgage without a job?
In some situations, you can refinance your mortgage if you don't have a job. It depends on the lender, because some will allow it and others won’t. A qualified mortgage refinance broker can help connect you with lenders that consider your situation. You have to submit documentation about your unemployment and the income you have.
Can you refinance a mortgage with bad credit?
It’s possible to refinance a mortgage if you have bad credit. If your payment record with your current lender is good, you can discuss refinancing with that lender. You may also be able to refinance a mortgage by going through a government-backed lender, such as the USDA or FHA.
Can you refinance a second mortgage?
It’s possible to refinance a second mortgage. If your credit score improves or interest rates drop, refinancing a second mortgage may save you money. Either of these situations can provide a way for you to get a lower interest rate. Refinancing a second mortgage can also sometimes shorten your loan repayment period.
Can you refinance a first mortgage and not a second?
You can refinance your first mortgage and not the second one, but it can be difficult. You have to get the lender of your second mortgage to agree to the refinancing. The process is called resubordination, and some home equity lenders won’t agree. Additionally, lenders typically charge extra fees to resubordinate a loan.
How often should you refinance your mortgage?
There is no recommended frequency for refinancing a mortgage. How often you should refinance is determined by when it will save you money. If you can get better terms on your mortgage by refinancing, then it’s a good time to take action.
What should you expect when refinancing a mortgage?
When refinancing a mortgage, expect to answer a lot of questions and provide documentation to back up your answers. You'll may also pay fees and closing costs of around $5,000. Additionally, expect to start over in terms of building home equity, because refinancing takes the amortization process back to the beginning.
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