|Loan Amount||Up to $5,000,000|
|Loan Term (Years)||15 - 30 years|
Lending.com Mortgage Refinance Review
Lending.com Mortgage Refinance is offered by Finance of America Mortgage LLC, a direct lender founded in 1994 and based in Horsham, PA. Lending.com Mortgage Refinance are available in 50 states (and Washington, DC).
- Origination fees starting at $6,000.Origination fees are deducted from the loan amount, so take it into account when deciding how much you need to borrow.
- 4 different mortgage programs offered. Lending.com Mortgage Refinance refinances FHA, VA, jumbo, conforming, and conventional mortgages.
- Financing for a variety of property types. Offers refinancing for manufactured, single, and multi-family homes.
- Standard interest rates types. Lending.com Mortgage Refinance offers adjustable-rate mortgages and fixed-rate mortgages.
- Primary and secondary homes considered. Investment homes, such as rental properties, do not qualify for refinancing. However, Lending.com Mortgage Refinance does offer refinancing for primary and secondary homes (e.g. vacation properties).
- Fair credit accepted. Borrowers with a credit score as low as 600 may qualify for Lending.com Mortgage Refinance.
Lending.com Mortgage Refinance Pros & Cons
Lending.com Mortgage Refinance FAQ
What is the maximum loan term for a mortgage refinance via Lending.com 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. Lending.com Mortgage Refinance offers mortgage refinancing with terms ranging from 15 to 30 years.
How long does Lending.com Mortgage Refinance take to refinance?Lending.com Mortgage Refinance 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 Lending.com Mortgage Refinance charge a mortgage origination fee?
Yes, Lending.com Mortgage Refinance will charge a loan origination fee of $6000
Does Lending.com Mortgage Refinance charge prepayment fees?
No, Lending.com Mortgage Refinance 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 Lending.com Mortgage Refinance offer?
Lending.com 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%.
- Jumbo: Any mortgage with a loan amount above the conforming loan limits set by Fannie Mae and Freddie Mac. As of 2018, the jumbo threshold is $453,100 in most of the United States.
- VA: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses.
What property usage types does Lending.com Mortgage Refinance allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Lending.com Mortgage Refinance allows the following property usage types:
- Primary home
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- Washington, DC
- West Virginia
|No Prepayment Fee|
|Origination Fee ($)||$6,000|
|Credit Score Range||600 - 850|
|Employment Statuses Considered||
|Immigration Status Considered||
|Intended Use||Primary Home|
|Verification Documents Required||
|APR||Starting at 3.956%|
|Loan Term||15 - 30 years|
|Loan Amount||Up to $5,000,000|
|Interest Rate Types Offered||