SuperMoney
  Residential Mortgage Services Purchase Mortgage
Residential Mortgage Services Purchase Mortgage
in Home Loans from Residential Mortgage Services · NMLS ID #1760
Unaffiliated

Residential Mortgage Services Purchase Mortgage

Unaffiliated
in Home Loans from Residential Mortgage Services · NMLS ID #1760
Not enough votes for recommendation

Not enough votes for recommendation

Explore a similar product
Try this top product in Home Loans.
New American Funding Home Mortgage
New American Funding Home Mortgage 44 reviews
Highlights
Loan Amount Up to $1,000,000
Loan Term (Years) N/A
Credit Score Range N/A
No Origination Fee N/A

Residential Mortgage Services Purchase Mortgage Review

Residential Mortgage Services Purchase Mortgage is offered by Residential Mortgage Services (NMLS #1760), a direct lender founded in 1991 and based in South Portland, ME. Residential Mortgage Services Purchase Mortgage is available in 15 states (and Washington, DC).

Key Takeaways

  • 3 different mortgage programs offered. Residential Mortgage Services Purchase Mortgage offers FHA, 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.
  • Primary and secondary homes considered. Investment homes, such as rental properties, do not qualify for financing. However, Residential Mortgage Services Purchase Mortgage 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.

Residential Mortgage Services Purchase Mortgage Pros & Cons

Pros Cons
  • Charges an origination fee.
  • Charges prepayment fees.
  • Only available in 15 states.

RMS mortgage FAQ

How much can you borrow via Residential Mortgage Services?

RMS mortgage allows borrowers to apply for loan amounts of up to $1,000,000. 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 mortgage rates does Residential Mortgage Services 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.

RMS mortgage offers home loans with APRs starting at 3.9% .

Do they charge mortgage origination fees?

Yes, RMS mortgage may charge a loan origination fee.

What mortgage programs are available?

Besides conventional mortgages, RMS 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%.

What property usage types does RMS mortgage allow?

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

  • Primary home

What is the customer service phone number?

The customer service number for Residential Mortgage Services Purchase Mortgage is (800) 640-0753.

What is the support contact email?

The support contact email for this business credit card is info@rmsmortgage.com.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
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 8:00am - 6:00pm
  • Tuesday 8:00am - 6:00pm
  • Wednesday 8:00am - 6:00pm
  • Thursday 8:00am - 6:00pm
  • Friday 8:00am - 6:00pm
  • Saturday Closed

Other Services by Residential Mortgage Services

Availability

  Available in 15 states and Washington, D.C.
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Massachusetts
  • Maryland
  • Maine
  • North Carolina
  • New Hampshire
  • New Jersey
  • Ohio
  • Pennsylvania
  • Rhode Island
  • Virginia
  • Vermont
  • West Virginia

Feature Breakdown

Intended Use Primary Home
Primary Residence
APR Starting at 3.9%
Loan Amount Up to $1,000,000
Mortgage Programs
  • FHA
  • USDA
  • VA

Be the first to rate

 

Would you recommend Residential Mortgage Services Purchase Mortgage to your friends?

Before we publish your vote:

Please explain your vote by sharing your experience.

Writing a review increases the credibility of your vote and helps your fellow users make a better-informed decision.

Please write a review to submit your vote
(will require moderator approval)

Other Home Loans