in Home Purchase Mortgages from Leader BankUnaffiliated
|Loan Amount||Up to $3,000,000|
|Loan Term (Years)||N/A|
Leader Bank Review
Where does Leader Bank do business?
Leader Bank is based in Arlington, MA. The company was founded in 2002 and offers mortgages to borrowers in 2 states.
How much can you borrow via Leader Bank?
Leader Bank allows borrowers to apply for loan amounts of up to $3,000,000. 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.
Does Leader Bank charge a mortgage origination fee?
Yes, Leader Bank may charge a loan origination fee.
What mortgage programs does Leader Bank offer?
Leader Bank 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 Leader Bank allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Leader Bank allows the following property usage types:
- Primary home