Prosperity Home Mortgage Refinance
in Mortgage Refinance from Prosperity Home MortgageUnaffiliated
|Loan Amount||Up to $2,000,000|
|Loan Term (Years)||15 - 30 years|
Prosperity Home Mortgage Refinance Review
Prosperity Home Mortgage Refinance is offered by Prosperity Home Mortgage (NMLS #75164), a direct lender founded in 2014 and based in Chantilly, VA. Prosperity Home Mortgage Refinance is available in 8 states (and Washington, DC).
- 4 different mortgage programs offered. Prosperity Home Mortgage Refinance refinances FHA, FHA 203k, 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. Prosperity Home Mortgage Refinance offers hybrid 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.
- Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage refinance loan early.
What is the maximum loan term for a mortgage refinance via Prosperity Home 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. Prosperity Home Mortgage Refinance offers mortgages refinancing with terms ranging from 15 to 30 years.
Does Prosperity Home Mortgage Refinance charge a mortgage origination fee?
Yes, Prosperity Home Mortgage Refinance will charge a loan origination fee.
What mortgage programs does Prosperity Home Mortgage Refinance offer?
Prosperity Home 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.
- 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 Prosperity Home Mortgage Refinance allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Prosperity Home Mortgage Refinance allows the following property usage types:
- Primary home
- Secondary homes and vacation properties
- Washington, DC
- New Jersey
- North Carolina
- South Carolina
- West Virginia
|APR||Starting at 3.791%|
|Loan Term||15 - 30 years|
|Loan Amount||Up to $2,000,000|
|Interest Rate Types Offered||
|Terms||1/1, 5/1, 7/1, 10/1, 15/15, 15, 30 years|
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