|Loan Amount||Up to $5,000,000|
|Loan Term (Years)||15 - 30|
Where does Sierra Pacific Mortgage do business?
Sierra Pacific Mortgage is a direct lender based in Folsom, CA. The company was founded in 1986 and offers mortgage refinancing to borrowers in 49 states across the USA (and Washington, DC).
What is the maximum loan term for a mortgage refinance via Sierra Pacific Mortgage?
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. Sierra Pacific Mortgage offers mortgages refinancing with terms ranging from 15 to 30 years.
Does Sierra Pacific Mortgage charge a mortgage origination fee?
Yes, Sierra Pacific Mortgage may charge a loan origination fee.
What mortgage programs does Sierra Pacific Mortgage offer?
Sierra Pacific Mortgage 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.
- HARP: A mortgage refinance program for home loans owned or backed by Fannie Mae or Freddie Mac. No minimum credit score or value appraisal required.
- HomePath: Financing for the purchase and improvement of properties owned by Fannie Mae.
- 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 Sierra Pacific Mortgage allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Sierra Pacific Mortgage allows the following property usage types:
- Primary home
- Secondary homes and vacation properties
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia