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  Axos Bank Mortgage Refinance

Axos Bank Mortgage Refinance

in Mortgage Refinance from Axos Bank · NMLS ID #524995

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Axos Bank Mortgage Refinance

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in Mortgage Refinance from Axos Bank · NMLS ID #524995

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Highlights
Highlights
Loan Amount $50,000 - $250,000
Loan Term (Years) 10 - 30 years

Axos Bank Mortgage Refinance Review

Axos Bank Mortgage Refinance is offered by Axos Bank (NMLS #524995), a bank founded in 2000 and based in San Diego, CA. Axos Bank Mortgage Refinance is available in 50 states (and Washington, DC).

Key Takeaways

  • Mortgage programs available. Axos Bank Mortgage Refinance refinances FHA, VA, jumbo, conforming, and conventional mortgages.
  • Property type. Offers refinancing for both single and multi-family homes.
  • Only considers small to medium mortgage amounts. Axos Bank Mortgage Refinance has a maximum loan amount of just $250,000.
  • Interest Rate Types. Axos Bank Mortgage Refinance offers hybrid mortgages and fixed-rate mortgages.
  • Considers personal use and investment properties. Refinancing 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 refinance loan early.
  • High maximum LTV ratio. Axos Bank Mortgage Refinance has a maximum loan to value ratio of 97%, which is higher than average. Most lenders want you to have at least 20% equity.

Axos Bank Mortgage Refinance Pros and Cons:

Pros Cons
  • Available in all 50 states.
  • Charges an origination fee.
  • Charges prepayment fees.
  • No co-sign option.

What range of mortgage balances will Axos Bank Mortgage Refinance refinance?

Mortgage refinancing loans start at $50,000 and go up to $250,000

What is the maximum loan term for a mortgage refinance via Axos Bank Mortgage Refinance?

The term of a mortgage refinance will impact the cost of your monthly payments. Longer terms will typically reduce your monthly payments but it will also increase the interest you pay. Axos Bank Mortgage Refinance offers mortgages refinancing with terms ranging from 10 to 30 years.

What is the estimated funding time for a mortgage refinance with Axos Bank Mortgage Refinance?

Axos Bank Mortgage Refinance will typically fund mortgage refinances within 30 days of approval.

Does Axos Bank Mortgage Refinance charge a mortgage origination fee?

Yes, Axos Bank Mortgage Refinance will charge a loan origination fee starting at $0

What mortgage programs does Axos Bank Mortgage Refinance offer?

Axos Bank Mortgage Refinance 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%.
  • 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.
  • Conforming: Mortgages that meet the loan requirements of Fannie Mae and Freddie Mac. These have fixed rate terms of 10 to 30 years and adjustable rate terms ranging from 3 to 10 years. Down payments as low as 5%.
  • 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 Axos Bank Mortgage Refinance allow?

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

  • Primary home
  • Secondary homes and vacation properties
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Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Origination Fee ($) Starting at $0
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Intended Use
  • Investment
  • Primary Home
  • Secondary Home
Joint Loan Applications Accepted Co-borrower
Maximum LTV 97%
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Minimum Age 18
Property Type
  • Manufactured/Mobile Home
  • Multi-Family Home
  • Single Family Home
  • Townhome
Verification Documents Required
  • Government Issued Photo ID
  • Proof of Identity
  • Proof of Residence
  • Social Security Number
  • Driver License (or other photo ID)
APR 3.25% - 18%
Loan Term 10 - 30 years
Loan Amount $50,000 - $250,000

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