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Last Updated: 04/18/2025

NOVA Home Loans Purchase Mortgage

in Home Mortgage Loans from NOVA Home Loans

Last Updated: 04/18/2025

NOVA Home Loans Purchase Mortgage logo
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Credit Score Range

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Amount Range

$100,000 - $1,500,000

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NOVA Home Loans Purchase Mortgage Review

NOVA Home Loans Purchase Mortgage is offered by NOVA Home Loans (NMLS #3087), a direct lender founded in 1980 and based in Tucson, AZ. Nova Home Loans are available in 12 states.

Key Takeaways

  • Wide selection of mortgage programs offered. NOVA Home Loans Purchase Mortgage offers FHA, FHA 203k, 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.
  • Non-standard interest rates available. NOVA Home Loans Purchase Mortgage only offers hybrid mortgages.
  • Only primary residences considered. NOVA Home Loans Purchase Mortgage does not offer financing for vacation homes or investment properties.
  • Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.

NOVA Home Loans Purchase Mortgage Pros & Cons

Nova Home Loans FAQ

How much can you borrow via NOVA Home Loans?

Nova 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.

What mortgage rates does NOVA Home Loans 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.

Do they charge mortgage origination fees?

Yes, Nova Home Loans may charge a loan origination fee .

What mortgage programs are available?

Besides conventional mortgages, Nova Home Loans offers the following mortgage types:
  • 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.

What property usage types does Nova Home Loans allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Nova Home Loans allows the following property usage types:
  • Primary home

What is the customer service phone number?

The customer service number for NOVA Home Loans Purchase Mortgage is (800) 955-9125.

What is the support contact email?

The support contact email for is resolution@novahomeloans.com.

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Contact

Headquarters

6245 E. Broadway Boulevard,
Suite 400
Tucson, AZ 85711
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