Where does Brightwire Loans do business?
Brightwire Loans is a direct lender based in Lyndhurst, NJ. The company was founded in 2013 and offers mortgages to borrowers in 1 state.
How much can you borrow via Brightwire Loans?
Brightwire Loans allows borrowers to apply for loan amounts of up to $424,100. 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 is the estimated funding time for a home loan via Brightwire Loans?
Brightwire Loans will typically fund mortgages within 14 and 28 days of approval.
Does Brightwire Loans charge a mortgage origination fee?
Yes, Brightwire Loans may charge a loan origination fee.
What mortgage programs does Brightwire Loans offer?
Brightwire Loans offers the following mortgage types:
- Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
- FHA: Mortgages insured by the FHA, which usually have less stringent eligibility requirements, but borrowers must pay a mortgage insurance premium. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
What property usage types does Brightwire Loans allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Brightwire Loans allows the following property usage types:
- Primary home
- Secondary homes and vacation properties
- Investment properties and house flipping projects