|Loan Term (Years)||5 - 30 years|
OneTrust Home Loans Refinancing Review
OneTrust Home Loans Refinancing is offered by OneTrust Home Loans (NMLS #46375), a direct lender founded in 2013 and based in San Diego, CA. OneTrust are available in 40 states (and Washington, DC).
- 6 different mortgage programs offered. OneTrust Home Loans Refinancing refinances FHA, FHA 203k, HomePath, USDA, 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. OneTrust Home Loans Refinancing offers adjustable-rate 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.
- Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for OneTrust Home Loans Refinancing.
- Fair credit accepted. Borrowers with a credit score as low as 580 may qualify for OneTrust Home Loans Refinancing.
OneTrust Home Loans Refinancing Pros & Cons
OneTrust Home Loans Refinancing FAQ
What is the maximum loan term for a mortgage refinance via OneTrust?
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. OneTrust Home Loans Refinancing offers mortgage refinancing with terms ranging from 5 to 30 years.
How long does OneTrust take to refinance?OneTrust 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 OneTrust charge a mortgage origination fee?
Yes, OneTrust Home Loans Refinancing will charge a loan origination fee.
Does OneTrust charge prepayment fees?
No, OneTrust Home Loans Refinancing 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 OneTrust offer?
OneTrust Home Loans Refinancing 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.
- HomePath: Financing for the purchase and improvement of properties owned by Fannie Mae.
- 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 OneTrust allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. OneTrust Home Loans Refinancing allows the following property usage types:
- Primary home
- Secondary homes and vacation properties
- New Hampshire
- New Jersey
- New Mexico
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- Washington, DC
- West Virginia
|No Prepayment Fee||
|Credit Score Range||580 -|
|Employment Statuses Considered||
|Immigration Status Considered||
|Joint Loan Applications Accepted||
|Verification Documents Required||
|Loan Term||5 - 30 years|
|Interest Rate Types Offered||