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  The Money Store Mortgage Refinance
The Money Store Mortgage Refinance
in Mortgage Refinance from The Money Store · NMLS ID #1019
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The Money Store Mortgage Refinance

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in Mortgage Refinance from The Money Store · NMLS ID #1019
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Highlights
Loan Amount Starting at $50,000
Loan Term (Years) 15 - 30 years

The Money Store Mortgage Refinance Review

The Money Store Mortgage Refinance is offered by The Money Store (NMLS #1019), a direct lender founded in 1967 and based in Florham, NJ. The Money Store Mortgage Refinance is available in 40 states (and Washington, DC).

Key Takeaways

  • 3 different mortgage programs offered. The Money Store 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. The Money Store 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.

The Money Store Mortgage Refinance Pros & Cons

Pros Cons
  • Available in 40 states.
  • Charges an origination fee.
  • Charges prepayment fees.

The Money Store Mortgage Refinance FAQ

What range of mortgage balances will The Money Store mortgage refinance?

Mortgage refinancing loans start at $50,000.

What is the maximum loan term for a mortgage refinance via The Money Store mortgage?

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. The Money Store Mortgage Refinance offers mortgage refinancing with terms ranging from 15 to 30 years.

How long does The Money Store mortgage take to refinance?

The Money Store mortgage 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 The Money Store mortgage charge a mortgage origination fee?

Yes, The Money Store Mortgage Refinance will charge a loan origination fee.

What mortgage programs does The Money Store mortgage offer?

The Money Store 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 The Money Store mortgage allow?

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

  • Primary home
  • Secondary homes and vacation properties
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Other Services by The Money Store

Availability

  Available in 40 states and Washington, D.C.
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Iowa
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Montana
  • North Carolina
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • Tennessee
  • Texas
  • Virginia
  • Vermont
  • Washington
  • Wisconsin

Feature Breakdown

Intended Use
  • Primary Home
  • Secondary Home
  • Investment
Loan Term 15 - 30 years
Loan Amount Starting at $50,000
Interest Rate Types Offered Hybrid Mortgage
Mortgage Programs
  • FHA
  • USDA
  • VA

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