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  Benchmark Mortgage Home Loans

Benchmark Mortgage Home Loans

in Home Purchase Mortgages from Benchmark Mortgage · NMLS ID #2143

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Benchmark Mortgage Home Loans

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in Home Purchase Mortgages from Benchmark Mortgage · NMLS ID #2143

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Highlights
Mortgage Programs
  • FHA
  • FHA 203k
  • VA
Loan Amount $100,000 - $1,500,000
Loan Term (Years) N/A

Benchmark Mortgage Home Loans Review

Benchmark Mortgage Home Loans is offered by Benchmark Mortgage (NMLS #2143), a direct lender founded in 1999 and based in Plano, TX. Benchmark Mortgage Home Loans is available in 43 states (and Washington, DC).

Key Takeaways
  • 3 different mortgage programs offered. Benchmark Mortgage Home Loans offers FHA, FHA 203k, VA, conforming, and conventional mortgages.
  • Specializes in multi-family properties. Only offers mortgages for multi-family properties, but not for single-family homes or manufactured homes.
  • Standard interest rates types. Benchmark Mortgage Home Loans offers and fixed-rate mortgages.
  • Primary and secondary homes considered. Investment homes, such as rental properties, do not qualify for financing. However, Benchmark Mortgage Home Loans does offer financing for primary and secondary homes (e.g. vacation properties).
  • Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
Benchmark Mortgage Home Loans Pros & Cons
Pros Cons
  • Available in 43 states.
  • Charges an origination fee.
  • Charges prepayment fees.
Benchmark Mortgage FAQ

How much can you borrow via Benchmark Mortgage?

Benchmark Mortgage allows borrowers to apply for loan amounts of up to $1,500,000. Note that the maximum loan amount you can borrow will also vary depending on the type of mortgage you choose, regardless of the lender you choose.

What mortgage rates does Benchmark Mortgage offer?

Mortgage rates change daily based on market conditions and vary significantly depending on the loan type and the length of the term. For instance, fixed rate mortgages will typically have a higher interest rate than mortgages with variable rates, and jumbo loans usually have higher mortgage rates than conforming conventional loans. Find the best interest rate available to you by getting quotes from three or more mortgage lenders before choosing a home loan.

Benchmark Mortgage offers home loans with APRs starting at 3.68% .

Does Benchmark Mortgage charge an application fee?

Do they charge mortgage origination fees?

Yes, Benchmark Mortgage may charge a loan origination fee.

What mortgage programs are available?

Benchmark Mortgage offers the following mortgage types:

  • Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
  • FHA loans: FHA loans are mortgages insured by the FHA. They offer competitive mortgage rates and have less stringent eligibility requirements. However, borrowers must pay a mortgage insurance premium. For instance, you can apply for an FHA loan with a credit score as low as 580. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
  • FHA 203k: An FHA mortgage you can also use to finance home improvements.
  • VA loans: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses. VA loans offer competitive mortgage rates, and don't have a minimum credit score. However, the mortgage lenders that offer them will typically require a credit score of at least 640.

What property usage types does Benchmark Mortgage allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Benchmark Mortgage allows the following property usage types: 

  • Primary home

What is the customer service phone number?

The customer service number for this business card is (877) 629-6996.

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Contact

Other Services by Benchmark Mortgage

Availability

  Available in 43 states and Washington, D.C.
  • Alabama
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Missouri
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Intended Use Primary Home
Primary Residence
APR Starting at 3.68%
Loan Amount $100,000 - $1,500,000
Interest Rate Types Offered N/A
Mortgage Programs
  • FHA
  • FHA 203k
  • VA
Terms 15, 20, 30

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