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  Freedom Mortgage Refinance

Freedom Mortgage Refinance

in Mortgage Refinance from Freedom Mortgage Corporation · NMLS ID #2767

Unaffiliated

Freedom Mortgage Refinance

Unaffiliated

in Mortgage Refinance from Freedom Mortgage Corporation · NMLS ID #2767

Net Recommendation Score -100%

SUPERMONEY NET RECOMMENDATION SCORE

-100%

Recommendation score measures the loyalty between a provider and a consumer. It's at 100% if everybody recommends the provider, and at -100% when no one recommends.

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Highlights
Community Rating

Rating not yet determined  

Loan Amount Up to $2,500,000
Loan Term (Years) 15 - 30 years

Freedom Mortgage Refinance Review

Freedom Mortgage Refinance is offered by Freedom Mortgage Corporation (NMLS #2767), a direct lender founded in 1990 and based in Mount Laurel, NJ. Freedom Mortgage Refinance is available in 50 states (and Washington, DC).

Key Takeaways
  • 5 different mortgage programs offered. Freedom 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. Freedom Mortgage Refinance only offers hybrid 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.
  • Origination fee of 1%. This is on the low end for lenders that charge an origination fee. However, some lenders don't charge an origination fee.
Freedom Mortgage Refinance Pros & Cons
Pros Cons
  • Available in all 50 states.
  • Charges an origination fee of up to 1% of the loan amount.
  • Charges prepayment fees.
Freedom Mortgage Refinance FAQ

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

Does Freedom Mortgage Refinance charge a mortgage origination fee?

Yes, Freedom Mortgage Refinance will charge a loan origination fee of 1% of the loan amount.

What mortgage programs does Freedom Mortgage Refinance offer?

Freedom 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 Freedom Mortgage Refinance allow?

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

  • Primary home
  • Secondary homes and vacation properties
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Other Services by Freedom Mortgage Corporation

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Origination Fee (%) 1%
Intended Use
  • Investment
  • Primary Home
  • Secondary Home
Loan Term 15 - 30 years
Loan Amount Up to $2,500,000
Interest Rate Types Offered Hybrid Mortgage
Mortgage Programs
  • FHA
  • FHA 203k
  • HARP
  • USDA
  • VA
Terms 3/1, 5/1, 7/1, 15, 30 years

Freedom Mortgage Refinance Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

-100%

Recommendation score measures the loyalty between a provider and a consumer. It's at 100% if everybody recommends the provider, and at -100% when no one recommends.

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