|Loan Amount||Up to $1,665,000|
|Loan Term (Years)||15 - 30 years|
Cherry Creek Mortgage Refinance Review
Cherry Creek Mortgage Refinance is offered by Cherry Creek Mortgage (NMLS #3001), a direct lender founded in 1986 and based in Greenwood Village, CO. Cherry Creek Mortgage Refinance are available in 32 states across the USA.
- 4 different mortgage programs offered. Cherry Creek Mortgage Refinance refinances FHA, FHA 203k, 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. Cherry Creek 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 early.
Cherry Creek Mortgage Refinance Pros & Cons
Cherry Creek Mortgage Refinance FAQ
What is the maximum loan term for a mortgage refinance via Cherry Creek 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. Cherry Creek Mortgage Refinance offers mortgage refinancing with terms ranging from 15 to 30 years.
How long does Cherry Creek Mortgage Refinance take to refinance?
Generally, it takes Cherry Creek Mortgage Refinance around day to complete a refinance. Of course, this is just an estimate. The exact time will vary depending on the lender and the market.
Does Cherry Creek Mortgage Refinance charge a mortgage origination fee?
Yes, Cherry Creek Mortgage Refinance will charge a loan origination fee.
What mortgage programs does Cherry Creek Mortgage Refinance offer?
Cherry Creek 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.
- 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 Cherry Creek Mortgage Refinance allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Cherry Creek Mortgage Refinance allows the following property usage types:
- Primary home
- Secondary homes and vacation properties
- New Jersey
- New Mexico
- South Carolina