Out of Business
BBMC Mortgage Refinance
in Mortgage Refinance from BBMC Mortgage
|Loan Amount||Up to $3,000,000|
|Loan Term (Years)||15 - 30 years|
BBMC Mortgage Refinance Review
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BBMC Mortgage Refinance is offered by BBMC Mortgage, a bank founded in 2009 and based in Lombard, IL. BBMC Mortgage Refinance is available in 50 states (and Washington, DC).
- 5 different mortgage programs offered. BBMC Mortgage Refinance refinances FHA, FHA 203k, HARP, 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. BBMC 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.
What is the maximum loan term for a mortgage refinance via BBMC 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. BBMC Mortgage Refinance offers mortgages refinancing with terms ranging from 15 to 30 years.
Does BBMC Mortgage Refinance charge a mortgage origination fee?
Yes, BBMC Mortgage Refinance will charge a loan origination fee.
What mortgage programs does BBMC Mortgage Refinance offer?
BBMC 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.
- 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 BBMC Mortgage Refinance allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. BBMC Mortgage Refinance allows the following property usage types:
- Primary home
- Secondary homes and vacation properties
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
|APR||Starting at 3.703%|
|Loan Term||15 - 30 years|
|Loan Amount||Up to $3,000,000|
|Interest Rate Types Offered||
|Terms||5/1, 7/1, 10/1, 15, 30 years|
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