Where does Benchmark Bank do business?
Benchmark Bank is a bank based in Frisco, TX. The company was founded in 1964 and offers mortgage refinancing to borrowers in 1 state across the USA.
What is the maximum loan term for a mortgage refinance via Benchmark Bank?
The term of a mortgage refinance will determine the cost of your monthly payments. Longer terms will typically reduce your monthly payments but it will also increase the interest you pay. Benchmark Bank offers mortgages refinancing with terms ranging from 15 to 30 years.
Does Benchmark Bank charge a mortgage origination fee?
Yes, Benchmark Bank may charge a loan origination fee.
What mortgage programs does Benchmark Bank offer?
Benchmark 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%.
- 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 Benchmark Bank allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Benchmark Bank allows the following property usage types:
- Primary home
- Secondary homes and vacation properties