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TIAA Bank

in Home Purchase Mortgages from TIAA Bank

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TIAA Bank

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in Home Purchase Mortgages from TIAA Bank

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Highlights
Highlights
Loan Amount Up to $300,000,000
APR 3.25% - 4.088%
Loan Term 15 - 30 years

TIAA Bank Review

Where does TIAA Bank do business?

TIAA Bank is based in New York, NY. The company was founded in 1918 and offers mortgages to borrowers in 22 states (and Washington, DC).

How much can you borrow via TIAA Bank?

TIAA Bank allows borrowers to apply for loan amounts of up to $300,000,000. 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 is the maximum loan term you can get with TIAA Bank?

TIAA Bank 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 range of rates does TIAA Bank offer?

TIAA Bank offers home loans with APRs starting at 3.25% and up to 4.088%.

Does TIAA Bank charge a mortgage origination fee?

Yes, TIAA Bank may charge a loan origination fee.

What mortgage programs does TIAA Bank offer?

TIAA Bank 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%.
  • HARP: A mortgage refinance program for home loans owned or backed by Fannie Mae or Freddie Mac. No minimum credit score or value appraisal required.
  • Jumbo: Any mortgage with a loan amount above the conforming loan limits set by Fannie Mae and Freddie Mac. As of 2018, the jumbo threshold is $453,100 in most of the United States.
  • 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 TIAA Bank allow?

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

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

Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming
  Available in 22 states and Washington, D.C.
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Florida
  • Georgia
  • Iowa
  • Maryland
  • Massachusetts
  • Missouri
  • Montana
  • New Jersey
  • New York
  • North Carolina
  • Ohio
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Dakota
  • Utah
  • Virginia
  • Washington

Feature Breakdown

Minimum Age 18
Credit Score Range 700 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Intended Use
  • Investment
  • Primary Home
  • Secondary Home
Property Type
  • Manufactured/Mobile Home
  • Multi-Family Home
  • Single Family Home
  • Townhome
Verification Documents Required
  • Government Issued Photo ID
  • Proof of Identity
  • Proof of Income
  • Recent Bank Statements
  • Recent Pay Stubs
  • Social Security Number
  • Driver License (or other photo ID)
Primary Residence  
Investment  
Loan Amount Up to $300M
Loan Term 15 - 30 years
APR 3.25% - 4.088%

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