What is the estimated funding time for a mortgage refinance with Mr. Cooper Mortgage Refinance?

Mr. Cooper Mortgage Refinance will typically fund mortgage refinances within 3 days of approval.

What mortgage programs does Mr. Cooper Mortgage Refinance offer?

Mr. Cooper 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%.
• FHA 203k: An FHA mortgage you can also use to finance home improvements.
• 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.
• 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.
• 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 Mr. Cooper Mortgage Refinance allow?

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

• Primary home
• Secondary homes and vacation properties