Where does Embrace Home Loans do business?
Embrace Home Loans is a direct lender based in Newport, RI. The company was founded in 1983 and offers mortgages to borrowers in 45 states (and Washington, DC).
How much can you borrow via Embrace Home Loans?
Embrace Home Loans 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.
Does Embrace Home Loans charge a mortgage origination fee?
Yes, Embrace Home Loans may charge a loan origination fee.
What mortgage programs does Embrace Home Loans offer?
Embrace Home 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%.
- HARP: A mortgage refinance program for home loans owned or backed by Fannie Mae or Freddie Mac. No minimum credit score or value appraisal required.
- USDA: A zero down payment mortgage loan with low rates for suburban and rural homebuyers.
- VA: 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.
What property usage types does Embrace Home Loans allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Embrace Home Loans allows the following property usage types:
- Primary home
Other Services by Embrace Home Loans
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia