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  Bay Equity Mortgage Refinance

Bay Equity Mortgage Refinance

in Mortgage Refinance from Bay Equity · NMLS ID #76988

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Bay Equity Mortgage Refinance

Unaffiliated

in Mortgage Refinance from Bay Equity · NMLS ID #76988

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Highlights
Highlights
Loan Amount Up to $5,000,000
Loan Term (Years) 10 - 30 years

Bay Equity Mortgage Refinance Review

Bay Equity Mortgage Refinance is offered by Bay Equity (NMLS #76988), a direct lender founded in 2007 and based in Sausalito, CA. Bay Equity Mortgage Refinance is available in 31 states across the USA.

Key Takeaways
  • 6 different mortgage programs offered. Bay Equity Mortgage Refinance refinances FHA, FHA 203k, HARP, HomePath, 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.
  • Non-standard interest rates available. Bay Equity 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.
Bay Equity Mortgage Refinance Pros & Cons
Pros Cons
  • Available in 31 states.
  • Charges an origination fee.
  • Charges prepayment fees.
  • No co-sign option.
Bay Equity Mortgage Refinance FAQ

What is the maximum loan term for a mortgage refinance via Bay Equity 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. Bay Equity Mortgage Refinance offers mortgages refinancing with terms ranging from 10 to 30 years.

Does Bay Equity Mortgage Refinance charge a mortgage origination fee?

Yes, Bay Equity Mortgage Refinance will charge a loan origination fee.

What mortgage programs does Bay Equity Mortgage Refinance offer?

Bay Equity 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%.
  • FHA 203k: An FHA mortgage you can also use to finance home improvements.
  • 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.
  • HomePath: Financing for the purchase and improvement of properties owned by Fannie Mae.
  • USDA: A zero down payment mortgage loan with low rates for suburban and rural homebuyers.
  • 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 Bay Equity Mortgage Refinance allow?

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

  • Primary home
  • Secondary homes and vacation properties
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Other Services by Bay Equity

Availability

  Available in 31 states
  • Alabama
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Louisiana
  • Michigan
  • Minnesota
  • Montana
  • Nebraska
  • Nevada
  • New Mexico
  • North Carolina
  • North Dakota
  • Oklahoma
  • Oregon
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Washington
  • Wisconsin
  • Wyoming

Feature Breakdown

Intended Use
  • Investment
  • Primary Home
  • Secondary Home
Loan Term 10 - 30 years
Loan Amount Up to $5,000,000
Interest Rate Types Offered
  • Hybrid Mortgage
Mortgage Programs
  • FHA
  • FHA 203k
  • HARP
  • HomePath
  • USDA
  • VA
Terms 5/1, 7/1, 10, 15, 20, 30 years

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