|Loan Term (Years)||15 - 30|
|Loan Amount||Up to $3,000,000|
Where does Stearns Home Loans do business?
Stearns Home Loans is a direct lender based in Santa Ana, CA. The company was founded in 1989 and offers mortgage refinancing to borrowers in 50 states across the USA (and Washington, DC).
What is the maximum loan term for a mortgage refinance via Stearns Home Loans?
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. Stearns Home Loans offers mortgages refinancing with terms ranging from 15 to 30 years.
Does Stearns Home Loans charge a mortgage origination fee?
Yes, Stearns Home Loans may charge a loan origination fee.
What mortgage programs does Stearns Home Loans offer?
Stearns Home Loans 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 Stearns Home Loans allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Stearns Home Loans allows the following property usage types:
- Primary home
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia