|Loan Amount||Up to $5,000,000|
|Loan Term (Years)||10 - 40 years|
Skyline Home Loans Mortgage Refinance Review
Skyline Home Loans Mortgage Refinance is offered by Skyline Home Loans (NMLS #1071), a direct lender founded in 1985 and based in Calabasas, CA. Skyline Home Loans Mortgage Refinance is available in 27 states across the USA.
- 4 different mortgage programs offered. Skyline Home Loans 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. Skyline Home Loans 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 early.
- Long loan terms. Skyline Home Loans Mortgage Refinance offers mortgage terms of up to 40 years. Most mortgage refinancing loans have a maximum term of 30 years.
Skyline Home Loans Mortgage Refinance Pros & Cons
Skyline Home Loans Mortgage Refinance FAQ
What is the maximum loan term for a mortgage refinance via Skyline Home Loans 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. Skyline Home Loans Mortgage Refinance offers mortgage refinancing with terms ranging from 10 to 40 years.
How long does Skyline Home Loans Mortgage Refinance take to refinance?Skyline Home Loans Mortgage Refinance does not provide details on the average time to close a refinance. However, it typically takes 30 to 45 days to complete a refinance. Of course, a lot depends on the market, the lender, and how long appraisals and inspections take.
Does Skyline Home Loans Mortgage Refinance charge a mortgage origination fee?
Yes, Skyline Home Loans Mortgage Refinance will charge a loan origination fee.
What mortgage programs does Skyline Home Loans Mortgage Refinance offer?
Skyline Home Loans 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 Skyline Home Loans Mortgage Refinance allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Skyline Home Loans Mortgage Refinance allows the following property usage types:
- Primary home
- Secondary homes and vacation properties
- North Carolina
- New Hampshire
- New Jersey
- New Mexico
- South Carolina