Where does Home Loan Investment Bank do business?
Home Loan Investment Bank is a bank based in Warwick, RI. The company was founded in 1963 and offers mortgage refinancing to borrowers in 50 states across the USA (and Washington, DC).
What range of mortgage balances will Home Loan Investment Bank refinance?
Mortgage refinancing loans start at $5,000 and go up to $50,000
What is the maximum loan term for a mortgage refinance via Home Loan Investment 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. Home Loan Investment Bank offers mortgages refinancing with terms ranging from 3 to 20 years.
What is the estimated funding time for a mortgage refinance with Home Loan Investment Bank?
Home Loan Investment Bank will typically approve (or deny) a mortgage refinance application within 48 hours and fund mortgage refinances within 4 days of approval.
Does Home Loan Investment Bank charge a mortgage origination fee?
Yes, Home Loan Investment Bank may charge a loan origination fee of 4% of the loan amount.
Does Home Loan Investment Bank charge prepayment fees?
No, Home Loan Investment Bank does not charge prepayment fees. This means you will not have to pay additional fees if you decide to repay the mortgage early.
What mortgage programs does Home Loan Investment Bank offer?
Home Loan Investment 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%.
What property usage types does Home Loan Investment Bank allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Home Loan Investment Bank 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
- U.S. Citizen
- Employed Full-Time
- Employed Part-Time
- Primary Home
- Secondary Home
- Active Duty Military
- Military Dependent
- Manufactured/Mobile Home
- Multi-Family Home
- Single Family Home
- Recent Bank Statements
- Recent Pay Stubs
- Driver License (or other photo ID)
- Proof of citizenship/residence (Green Card)