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Benchmark Bank Mortgage Refinance

in Mortgage Refinance from Benchmark Bank · NMLS ID #403379

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Benchmark Bank Mortgage Refinance

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in Mortgage Refinance from Benchmark Bank · NMLS ID #403379

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Highlights
Highlights
Loan Amount Up to $1,000,000
Loan Term (Years) 15 - 30 years

Benchmark Bank Mortgage Refinance Review

Benchmark Bank Mortgage Refinance is offered by Benchmark Bank (NMLS #403379), a bank founded in 1964 and based in Plano, TX. Benchmark Bank Mortgage Refinance is available in 1 state across the USA.

Key Takeaways

  • Mortgage programs available. Benchmark Bank Mortgage Refinance refinances FHA VA conforming and conventional mortgages.
  • Interest Rate Types. Benchmark 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.

Benchmark Bank Mortgage Refinance Pros and Cons:

Pros Cons
  • Charges an origination fee.
  • Charges prepayment fees.
  • No co-sign option.
  • Only available in 1 state.

What is the maximum loan term for a mortgage refinance via Benchmark 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. Benchmark Bank Mortgage Refinance offers mortgages refinancing with terms ranging from 15 to 30 years.

Does Benchmark Bank Mortgage Refinance charge a mortgage origination fee?

Yes, Benchmark Bank Mortgage Refinance will charge a loan origination fee.

What mortgage programs does Benchmark Bank Mortgage Refinance offer?

Benchmark 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%.
  • 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 Mortgage Refinance allow?

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

  • Primary home
  • Secondary homes and vacation properties
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Other Services by Benchmark Bank

Availability

  Available in 1 state
Texas
Availabile in all of Texas

Feature Breakdown

Intended Use
  • Investment
  • Primary Home
  • Secondary Home
Loan Term 15 - 30 years
Loan Amount Up to $1,000,000

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