Find Mortgage Refinance Companies Near You in Franklin, MA
Compare mortgage refinance companies in Franklin. Review contact information and insurance categorys before you decide.
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State Mortgage Licensing Authority of Massachusetts before hiring.
Showing 6 mortgage refinance companies in Franklin, MA
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A mortgage refinance company in Franklin, Massachusetts helps homeowners replace their existing home loan with a new one. Massachusetts law requires lenders to provide a Good Faith Estimate within three business days of application. Local companies understand Franklin market conditions and can guide you through state-specific disclosure rules.
What Does a Mortgage Refinance Company in Franklin Cost?
Typical costs for a mortgage refinance in Massachusetts include an origination fee of 0.5 to 1 percent of the loan amount, an appraisal fee of 400 to 700 dollars, and title insurance of 500 to 1,500 dollars. Closing costs often total 2 to 5 percent of the loan principal. These are general estimates and actual costs vary by lender, loan amount, and property. This information is general and not mortgage or financial advice.
* Cost estimates are general ranges based on publicly available data and compiled using automated research tools. Actual fees vary by agent and case complexity. This is not mortgage or financial advice — consult directly with an agent for fee specifics.
Frequently Asked Questions
What documents do I need to refinance a mortgage in Franklin?
You typically need pay stubs, tax returns, bank statements, and a recent mortgage statement. Massachusetts lenders also require a signed application and a property appraisal. The exact list depends on your loan type and lender.
How long does a mortgage refinance take in Massachusetts?
A standard refinance in Massachusetts usually takes 30 to 45 days from application to closing. Delays can occur if the appraisal is slow or if additional documents are requested. Your lender must provide a closing disclosure at least three business days before closing.
Are there any Massachusetts laws that affect refinancing?
Yes. Massachusetts has a three-day right of rescission for most refinances, meaning you can cancel the loan within three business days after signing. The state also limits prepayment penalties on certain loans. Always review your loan estimate and closing disclosure carefully.