|Loan Amount||Up to $3,000,000|
|Loan Term (Years)||15 - 30 years|
Stearns Home Loans Mortgage Refinance Review
Stearns Home Loans Mortgage Refinance is offered by Stearns Home Loans (NMLS #1854), a direct lender founded in 1989 and based in Santa Ana, CA. Stearns Home Loans Mortgage Refinance is available in 50 states (and Washington, DC).
- 4 different mortgage programs offered. Stearns 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. Stearns Home Loans Mortgage Refinance offers hybrid mortgages, and fixed-rate mortgages.
- Primary and secondary homes considered. Investment homes, such as rental properties, do not qualify for refinancing. However, Stearns Home Loans Mortgage Refinance does offer refinancing for primary and secondary homes (e.g. vacation properties).
- Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
What is the maximum loan term for a mortgage refinance via Stearns 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. Stearns Home Loans Mortgage Refinance offers mortgage refinancing with terms ranging from 15 to 30 years.
How long does Stearns Home Loans Mortgage Refinance take to refinance?Stearns 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 Stearns Home Loans Mortgage Refinance charge a mortgage origination fee?
Yes, Stearns Home Loans Mortgage Refinance will charge a loan origination fee.
What mortgage programs does Stearns Home Loans Mortgage Refinance offer?
Stearns 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 Stearns Home Loans Mortgage Refinance allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Stearns Home Loans Mortgage Refinance allows the following property usage types:
- Primary home
Other Services by Stearns Home Loans
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
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