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  MonsterLoans Mortgage Refinance
MonsterLoans Mortgage Refinance
in Mortgage Refinance from MonsterLoans · NMLS ID #1049484
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MonsterLoans Mortgage Refinance

Unaffiliated
in Mortgage Refinance from MonsterLoans · NMLS ID #1049484
SuperMoney Net Recommendation Score -33  

SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly not recommended by SuperMoney users with a score of -33, equating to 2.3 on a 5 point rating scale.

-33

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Mostly not recommended

2 users recommend
0 users are unsure
4 users don't recommend
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Highlights
Community Rating Mostly not recommended
Loan Amount Up to $2,000,000
Loan Term (Years) 15 - 30 years
Number of Reviews 6

MonsterLoans Mortgage Refinance Review

MonsterLoans Mortgage Refinance is offered by MonsterLoans (NMLS #1049484), a direct lender founded in 2015 and based in Lake Forest, CA. MonsterLoans Mortgage Refinance are available in 16 states across the USA.

Key Takeaways

  • 4 different mortgage programs offered. MonsterLoans 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. MonsterLoans Mortgage Refinance offers hybrid mortgages, and fixed-rate mortgages.
  • Primary and secondary homes considered. Investment homes, such as rental properties, do not qualify for refinancing. However, MonsterLoans Mortgage Refinance does offer refinancing for primary and secondary homes (e.g. vacation properties).
  • Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.

MonsterLoans Mortgage Refinance Pros & Cons

Pros Cons
  • Charges an origination fee.
  • Charges prepayment fees.
  • Only available in 16 states.

MonsterLoans Mortgage Refinance FAQ

What is the maximum loan term for a mortgage refinance via MonsterLoans 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. MonsterLoans Mortgage Refinance offers mortgage refinancing with terms ranging from 15 to 30 years.

How long does MonsterLoans mortgage refinance take to refinance?

MonsterLoans 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 MonsterLoans mortgage refinance charge a mortgage origination fee?

Yes, MonsterLoans Mortgage Refinance will charge a loan origination fee.

What mortgage programs does MonsterLoans mortgage refinance offer?

MonsterLoans 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 MonsterLoans mortgage refinance allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. MonsterLoans Mortgage Refinance allows the following property usage types: 

  • Primary home
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Contact

Hours of Operation

  • Sunday Closed
  • Monday 7:00am - 6:00pm
  • Tuesday 7:00am - 6:00pm
  • Wednesday 7:00am - 6:00pm
  • Thursday 7:00am - 6:00pm
  • Friday 7:00am - 6:00pm
  • Saturday 10:00am - 5:00pm

Other Services by MonsterLoans

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Availability

  Available in 16 states
  • Arizona
  • California
  • Colorado
  • Florida
  • Georgia
  • Illinois
  • Maryland
  • New Jersey
  • North Carolina
  • Oregon
  • Pennsylvania
  • South Carolina
  • Tennessee
  • Texas
  • Virginia
  • Washington

Feature Breakdown

Intended Use Primary Home
APR Starting at 3.53%
Loan Term 15 - 30 years
Loan Amount Up to $2,000,000
Interest Rate Types Offered Hybrid Mortgage
Mortgage Programs
  • FHA
  • USDA
  • VA

MonsterLoans Mortgage Refinance Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly not recommended by SuperMoney users with a score of -33, equating to 2.3 on a 5 point rating scale.

-33

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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