Skyline Home Loans Purchase Mortgage

Skyline Home Loans Purchase Mortgage Review

Skyline Home Loans Purchase Mortgage are offered by Skyline Home Loans (NMLS #1071), a direct lender founded in 1985 and based in Calabasas, CA. Skyline Home Loans Purchase Mortgage are available in 18 states across the USA.

Key Takeaways

• 4 different mortgage programs offered. Skyline Home Loans 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, Skyline Home Loans 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.

Skyline Home Loans Purchase Mortgage Pros & Cons

Skyline Home Loans FAQ

How much can you borrow via Skyline Home Loans?

Skyline Home Loans allows borrowers to apply for loan amounts of up to $5,000,000. 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 Skyline 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, Skyline Home Loans may charge a loan origination fee.

What mortgage programs are available?

Besides conventional mortgages, Skyline 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%.

What property usage types does Skyline Home Loans allow?

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

• Primary home

What is the customer service phone number?

The customer service number for Skyline Home Loans Purchase Mortgage is (877) 995-1700.

What is the support contact email?

The support contact email for is customerrelations@financeofamerica.com.