Residential Mortgage Services
in Mortgage Refinance from Residential Mortgage ServicesUnaffiliated Visit Site
|Loan Term (Years)||15 - 30|
|Loan Amount||Up to $1,000,000|
Where does Residential Mortgage Services do business?
Residential Mortgage Services is a direct lender based in South Portland, ME. The company was founded in 1991 and offers mortgage refinancing to borrowers in 19 states across the USA (and Washington, DC).
What is the maximum loan term for a mortgage refinance via Residential Mortgage Services?
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. Residential Mortgage Services offers mortgages refinancing with terms ranging from 15 to 30 years.
Does Residential Mortgage Services charge a mortgage origination fee?
Yes, Residential Mortgage Services may charge a loan origination fee.
What mortgage programs does Residential Mortgage Services offer?
Residential Mortgage Services 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 Residential Mortgage Services allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Residential Mortgage Services allows the following property usage types:
- Primary home
- Secondary homes and vacation properties
- Washington, DC
- New Hampshire
- New York
- North Carolina
- Rhode Island
- South Carolina
- West Virginia