in Home Purchase Mortgages from Loanpal
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|Community Rating||Mostly recommended|
|Loan Amount||Up to $3,000,000|
|APR||Starting at 4%|
|Loan Term (Years)||N/A|
Where does Loanpal do business?
Loanpal is a direct lender based in Roseville, CA. The company was founded in 2003 and offers mortgages to borrowers in 22 states (and Washington, DC).
How much can you borrow via Loanpal?
Loanpal 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.
What range of rates does Loanpal offer?
Loanpal offers home loans with APRs starting at 4% .
Does Loanpal charge a mortgage origination fee?
Yes, Loanpal may charge a loan origination fee.
What mortgage programs does Loanpal offer?
Loanpal 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%.
- FHA 203k: An FHA mortgage you can also use to finance home improvements.
- 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 Loanpal allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Loanpal allows the following property usage types:
- Primary home
- Washington, DC
- New Jersey
- New Mexico
- North Carolina
- South Carolina