Leader Bank Mortgage Refinance
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| Loan Amount | Up to $3,000,000 |
| Loan Term (Years) | 10 - 30 years |
Leader Bank Mortgage Refinance Review
Leader Bank Mortgage Refinance is offered by Leader Bank (NMLS #449250), a bank founded in 2002 and based in Arlington, MA. Leader Bank Mortgage Refinance are available in 2 states across the USA.
Key Takeaways
- 4 different mortgage programs offered. Leader Bank Mortgage Refinance refinances FHA, 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. Leader 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.
Leader Bank Mortgage Refinance Pros & Cons
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Leader Bank Mortgage Refinance FAQ
What is the maximum loan term for a mortgage refinance via Leader Bank 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. Leader Bank Mortgage Refinance offers mortgage refinancing with terms ranging from 10 to 30 years.
How long does Leader Bank Mortgage Refinance take to refinance?
Generally, it takes Leader Bank Mortgage Refinance between 30 and 45 days to complete a refinance. Of course, this is just an estimate. The exact time will vary depending on the lender and the market.
Does Leader Bank Mortgage Refinance charge a mortgage origination fee?
Yes, Leader Bank Mortgage Refinance will charge a loan origination fee.
What mortgage programs does Leader Bank Mortgage Refinance offer?
Leader 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%.
- 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 Mortgage Refinance allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Leader Bank Mortgage Refinance allows the following property usage types:
- Primary home
- Secondary homes and vacation properties
Contact
- Headquarters
-
180 Massachusetts Ave
Arlington, MA 02474 USA - (781) 641-8600
- Visit Site
- Email Support
Other Services by Leader Bank
Availability
- Connecticut
- Massachusetts
Feature Breakdown
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