|Loan Amount||Up to $2,000,000|
|Loan Term (Years)||15 - 30 years|
HomeStreet Bank Mortgage Refinance Review
HomeStreet Bank Mortgage Refinance is offered by HomeStreet Bank (NMLS #417396), a bank founded in 1921 and based in Seattle, WA. HomeStreet Bank Mortgage Refinance is available in 6 states across the USA.
- 5 different mortgage programs offered. HomeStreet Bank 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. HomeStreet 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 early.
HomeStreet Bank Mortgage Refinance Pros & Cons
HomeStreet Bank Mortgage Refinance FAQ
What is the maximum loan term for a mortgage refinance via HomeStreet Bank mortgage?
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. HomeStreet Bank Mortgage Refinance offers mortgage refinancing with terms ranging from 15 to 30 years.
How long does HomeStreet Bank mortgage take to refinance?HomeStreet Bank mortgage does not provide details on the average time to close a refinance. However, it typically takes 30 to 45 days to complete a refinance. Of course, a lot depends on the market, the lender, and how long appraisals and inspections take.
Does HomeStreet Bank mortgage charge a mortgage origination fee?
Yes, HomeStreet Bank Mortgage Refinance will charge a loan origination fee.
What mortgage programs does HomeStreet Bank mortgage offer?
HomeStreet 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%.
- 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 HomeStreet Bank mortgage allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. HomeStreet Bank Mortgage Refinance allows the following property usage types:
- Primary home
- Secondary homes and vacation properties