|Loan Amount||Up to $2,000,000|
|Loan Term (Years)||15 - 30|
Where does PrimeLending do business?
PrimeLending is a direct lender based in Dallas, TX. The company was founded in 1986 and offers mortgage refinancing to borrowers in 22 states across the USA (and Washington, DC).
What is the maximum loan term for a mortgage refinance via PrimeLending?
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. PrimeLending offers mortgages refinancing with terms ranging from 15 to 30 years.
Does PrimeLending charge a mortgage origination fee?
Yes, PrimeLending may charge a loan origination fee.
What mortgage programs does PrimeLending offer?
PrimeLending 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 PrimeLending allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. PrimeLending allows the following property usage types:
- Primary home
- Secondary homes and vacation properties
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Dakota
- Rhode Island
- West Virginia