You probably found this page because you are looking for Tucson refinance or AZ refinance. Tucson refinancing is virtually the same as getting a new mortgage. The only difference is that you already have a mortgage, but are looking to get one with new terms. As such, when looking for a Tucson mortgage refinance, what you are really looking for is Tucson mortgage companies. You can get a solid list of lenders if you search for mortgage in the Tucson area using Yellowpages (be it online or in the hard copy). When you search for mortgage on the online Yellowpages, you’ll see that there are around 200 search results. If you browse through them you’ll notice that the same company is listed many times because it has multiple agents and/or locations. For example, the Chase bank is listed many many times. As such, when shopping for Tucson home loans, to get as much variety as possible, get quotes from different companies, not different listings.

What separates one company in the Yellowpages from another?

Home lenders can be separated into three general types:

Your local banks: When you deposit some money in your local bank, this money goes into a pool, which is then handed out to people in the form of mortgage loans. An example in the Tucson area are your local Chase banks. Because banks are local, they know the local regulations and can get your loan approved fast. If you are seeking to refinance with one of your local banks, the person who you be most likely speaking to is a loan officer.

Mortgage banks: Mortgage banks are like your local banks except for the fact that they do not offer banking services. Rather than getting money from deposits to make the mortgage loans, they get them from the secondary mortgage market. For a full list of mortgage banks or mortgage bankers in the Tucson area, head to azdfi.gov (which has a full list of (Arizona refinance companies). Once there, click the “List of Licensees” tab. Then, on the right hand side, click “mortgage bankers”, which will give you an excel list of all the mortgage bankers. To get the Tucson mortgage banks, you can use the sort function in excel, which allows you to sort the banks by city name. In the same list of mortgage bankers, there are links to your local Tucson banks and Tucson brokers, which I’ll go over in the next section. So, although you can get local results from the Yellowpages, you can separate by type of lender if you check out azdfi.gov. Some of the major mortgage bankers, which I saw on the Tucson list, were CitiFinancial, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, and Nationwide Advantage Mortgage Company.

Brokers: Brokers act as a middle-man by helping you get quotes from multiple lenders, rather than just one. Although they have high upfront fees than lenders which can give you a new home loan directly, they may be able to save you more money in the long haul because they can get interest rates from many lenders.

Is there a best type of lender to get quotes from? No. The key is to have as many options as possible when you are shopping for Tucson home loans. However, if you find it hard to be accepted for a new home loan in Tucson because of bad credit, brokers are highly recommended because they can talk to many lenders at the same time for you.

Related hubs:

Cincinnati Refinance: Cincinnati Mortgage Refinance Tips

Dallas Home Loans-Home Loans in Dallas Texas: Some Advice

Tampa Refinancing

Nashville Refinancing

Insurance for Unoccupied Houses: Unoccupied House Insurance

And, of course, I have this Tucson refinance hub!