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  Ocwen Mortgage
Ocwen Mortgage
in Home Purchase Mortgages from Ocwen USVI Services LLC · NMLS ID #1849337
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Ocwen Mortgage

Unaffiliated
in Home Purchase Mortgages from Ocwen USVI Services LLC · NMLS ID #1849337
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Highlights
Loan Amount N/A
Loan Term (Years) 15 - 30 years
Credit Score Range Starting at 720
No Origination Fee N/A

Ocwen Mortgage Review

Ocwen Mortgage is offered by Ocwen USVI Services LLC (NMLS #1849337), a direct lender founded in 1988 and based in West Palm Beach, FL. Ocwen Mortgage is available in 16 states across the USA.

Key Takeaways
  • Instant online preapprovals. Find out how much you can borrow and what your interest rate will be.
  • 3 different mortgage programs offered. Ocwen Mortgage offers FHA, VA, jumbo, conforming, and conventional mortgages.
  • Financing for single-family and multi-family properties. However, Ocwen USVI Services LLC does not offer financing for manufactured homes.
  • Standard interest rates types. Ocwen Mortgage offers adjustable-rate mortgages and fixed-rate mortgages.
  • Considers personal use and investment properties. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
  • Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
  • Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for Ocwen Mortgage.
  • Good credit required. You will need a credit score of at least 720 to qualify.
Ocwen Mortgage Pros & Cons
Pros Cons
  • Offers financing for both single and multi-family homes.
  • Charges an origination fee.
  • Only considers applicants with good credit.
  • Charges prepayment fees.
  • Only available in 16 states.
Ocwen Mortgage FAQ

What is the maximum loan term you can get with Ocwen Mortgage?

Ocwen Mortgage 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 Ocwen USVI Services LLC 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, Ocwen Mortgage may charge a loan origination fee.

What mortgage programs are available?

Besides conventional mortgages, Ocwen Mortgage 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%.
  • Jumbo loans: Any mortgage with a loan amount above the conforming loan limits set by the Federal Housing Finance Agency ($548,250 as of 2021).
  • 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 Ocwen Mortgage allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Ocwen Mortgage allows the following property usage types: 

  • Primary home
  • Secondary homes and vacation properties
  • Investment properties and house flipping projects

What is the customer service phone number?

The customer service number for Ocwen Mortgage is (800) 746-2936.

What is the support contact email?

The support contact email for this business credit card is tprm@ocwen.com.

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

Hours of Operation

  • Sunday Closed
  • Monday 9:00am - 5:00pm
  • Tuesday 9:00am - 5:00pm
  • Wednesday 9:00am - 5:00pm
  • Thursday 9:00am - 5:00pm
  • Friday 9:00am - 5:00pm
  • Saturday Closed

About Ocwen Mortgage

Availability

  Available in 16 states
  • Alaska
  • California
  • Colorado
  • Delaware
  • Georgia
  • Illinois
  • Kansas
  • Massachusetts
  • Minnesota
  • Mississippi
  • Montana
  • New Hampshire
  • New Jersey
  • Ohio
  • Oregon
  • Rhode Island

Feature Breakdown

Credit Score Range 720 -
Employment Statuses Considered
  • Other
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
Intended Use
  • Primary Home
  • Secondary Home
  • Investment
Joint Loan Applications Accepted
  • Co-borrower
  • Cosigner
  • Individual Applications
Minimum Age 18
Minimum Down Payment Starting at 3.5%
Property Type
  • Single Family Home
  • Townhome
  • Multi-Family Home
Verification Documents Required
  • Driver License (or other photo ID)
  • Recent Pay Stubs
  • U.S. Tax Identification Number
  • Recent Bank Statements
  • Social Security Number
Investment
Primary Residence
Mortgage Features
  • Cash-Out Refinance
  • Instant Online Preapproval
Loan Term 15 - 30 years
Interest Rate Types Offered
  • Fixed-Rate Mortgage
  • Adjustable-Rate Mortgage (ARM)
Mortgage Programs
  • FHA
  • VA
  • Jumbo

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