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|Community Rating||Mostly recommended|
|Loan Term||15 - 30 years|
|Loan Amount||Up to $2,000,000|
Monster Loans Review
Monster Loans is a mortgage refinance offering by Monster Loans, a direct lender based in Irvine, CA. Founded in 2003, Monster Loans offers mortgage refinancing to borrowers in 16 states across the USA.
What is the maximum loan term for a mortgage refinance via Monster Loans?
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. Monster Loans offers mortgages refinancing with terms ranging from 15 to 30 years.
Does Monster Loans charge a mortgage origination fee?
Yes, Monster Loans may charge a loan origination fee.
What mortgage programs does Monster Loans offer?
Monster Loans 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 Monster Loans allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Monster Loans allows the following property usage types:
- Primary home
- New Jersey
- North Carolina
- South Carolina