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  HomeStreet Bank Home Loans

HomeStreet Bank Home Loans

in Home Purchase Mortgages from HomeStreet Bank · NMLS ID #417396

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HomeStreet Bank Home Loans

Unaffiliated

in Home Purchase Mortgages from HomeStreet Bank · NMLS ID #417396

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Highlights
Loan Amount $100,000 - $2,000,000
Loan Term (Years) 15 - 30 years

HomeStreet Bank Home Loans Review

HomeStreet Bank Home Loans is offered by HomeStreet Bank (NMLS #417396), a bank founded in 1921 and based in Seattle, WA. HomeStreet Bank Home Loans is available in 7 states across the USA.

Key Takeaways
  • 5 different mortgage programs offered. HomeStreet Bank Home Loans offers FHA, FHA 203k, HARP, USDA, 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. HomeStreet Bank Home Loans offers and fixed-rate mortgages.
  • Primary and secondary homes considered. Investment homes, such as rental properties, do not qualify for financing. However, HomeStreet Bank 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.
HomeStreet Bank Home Loans Pros & Cons
Pros Cons
  • Charges an origination fee.
  • Charges prepayment fees.
  • Only available in 7 states.
HomeStreet Bank Home Loans FAQ

How much can you borrow via HomeStreet Bank?

HomeStreet Bank Home Loans allows borrowers to apply for loan amounts of up to $2,000,000. 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 is the maximum loan term you can get with HomeStreet Bank Home Loans?

HomeStreet Bank Home Loans offers mortgages with terms ranging from 15 to 30 years. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What mortgage rates does HomeStreet Bank 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.

HomeStreet Bank Home Loans offers home loans with APRs starting at 4% and up to 10%.

Does HomeStreet Bank Home Loans charge an application fee?

Do they charge mortgage origination fees?

Yes, HomeStreet Bank Home Loans may charge a loan origination fee.

What mortgage programs are available?

HomeStreet Bank Home Loans 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.
  • USDA loans: A zero down payment mortgage loan with low mortgage rates for suburban and rural homebuyers. The USDA doesn't require a minimum credit score, but most mortgage lenders require a minimum credit score of 640.
  • 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 HomeStreet Bank Home Loans allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. HomeStreet Bank Home Loans allows the following property usage types: 

  • Primary home

What is the customer service phone number?

The customer service number for this business card is (800) 719-8080.

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Contact

Hours of Operation

  • Sunday Closed
  • Monday 7:00am - 6:00pm
  • Tuesday 7:00am - 6:00pm
  • Wednesday 7:00am - 6:00pm
  • Thursday 7:00am - 6:00pm
  • Friday 7:00am - 6:00pm
  • Saturday Closed

Other Services by HomeStreet Bank

Availability

  Available in 7 states
  • Arizona
  • California
  • Hawaii
  • Idaho
  • Oregon
  • Utah
  • Washington

Feature Breakdown

Intended Use Primary Home
Primary Residence
APR 4% - 10%
Loan Amount $100,000 - $2,000,000
Loan Term 15 - 30 years
Interest Rate Types Offered N/A
Mortgage Programs
  • FHA
  • FHA 203k
  • HARP
  • USDA
  • VA
Terms 15, 30

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