in Mortgage Refinance from Leader BankUnaffiliated
|Loan Term||10 - 30 years|
|Loan Amount||Up to $3,000,000|
Leader Bank Review
Leader Bank is a mortgage refinance offering by Leader Bank, a bank based in Arlington, MA. Founded in 2002, Leader Bank offers mortgage refinancing to borrowers in 2 states across the USA.
What is the maximum loan term for a mortgage refinance via Leader 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. Leader Bank offers mortgages refinancing with terms ranging from 10 to 30 years.
Does Leader Bank charge a mortgage origination fee?
Yes, Leader Bank may charge a loan origination fee.
What mortgage programs does Leader Bank offer?
Leader 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%.
- 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 Leader Bank allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Leader Bank allows the following property usage types:
- Primary home
- Secondary homes and vacation properties