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  Residential Mortgage Services Mortgage Refinance

Residential Mortgage Services Mortgage Refinance

in Mortgage Refinance from Residential Mortgage Services · NMLS ID #1760

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Residential Mortgage Services Mortgage Refinance

Unaffiliated

in Mortgage Refinance from Residential Mortgage Services · NMLS ID #1760

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Highlights
Loan Amount Up to $1,000,000
Loan Term (Years) 15 - 30 years

Residential Mortgage Services Mortgage Refinance Review

Residential Mortgage Services Mortgage Refinance is offered by Residential Mortgage Services (NMLS #1760), a direct lender founded in 1991 and based in South Portland, ME. Residential Mortgage Services Mortgage Refinance is available in 19 states (and Washington, DC).

Key Takeaways
  • 3 different mortgage programs offered. Residential Mortgage Services Mortgage Refinance refinances FHA, 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. Residential Mortgage Services 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.
Residential Mortgage Services Mortgage Refinance Pros & Cons
Pros Cons
  • Charges an origination fee.
  • Charges prepayment fees.
  • Only available in 19 states.
Residential Mortgage Services Mortgage Refinance FAQ

What is the maximum loan term for a mortgage refinance via Residential Mortgage Services 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. Residential Mortgage Services Mortgage Refinance offers mortgages refinancing with terms ranging from 15 to 30 years.

Does Residential Mortgage Services Mortgage Refinance charge a mortgage origination fee?

Yes, Residential Mortgage Services Mortgage Refinance will charge a loan origination fee.

What mortgage programs does Residential Mortgage Services Mortgage Refinance offer?

Residential Mortgage Services 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%.
  • 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 Mortgage Refinance allow?

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

  • Primary home
  • Secondary homes and vacation properties
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Contact

Hours of Operation

  • Sunday Closed
  • Monday 8:00am - 6:00pm
  • Tuesday 8:00am - 6:00pm
  • Wednesday 8:00am - 6:00pm
  • Thursday 8:00am - 6:00pm
  • Friday 8:00am - 6:00pm
  • Saturday Closed

Other Services by Residential Mortgage Services

Availability

  Available in 19 states and Washington, D.C.
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Indiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • New Hampshire
  • New York
  • North Carolina
  • Ohio
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • Vermont
  • Virginia
  • West Virginia

Feature Breakdown

Intended Use
  • Investment
  • Primary Home
  • Secondary Home
APR Starting at 4.193%
Loan Term 15 - 30 years
Loan Amount Up to $1,000,000
Interest Rate Types Offered
  • Hybrid Mortgage
Mortgage Programs
  • FHA
  • USDA
  • VA
Terms 5/1, 7/1, 10/1, 15, 30 years

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