Last Updated: 04/18/2025
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Highlights
Credit Score Range
N/A
Amount Range
Up to $3,000,000
Loan Term (Years)
15 - 30
TIAA Mortgage Refinance Review
TIAA Mortgage Refinance is offered by TIAA Bank (NMLS #399805), a bank founded in 1918 and based in New York, NY. TIAA mortgage are available in 50 states and Washington, DC.
Key Takeaways
- Only two mortgage programs offered. TIAA Mortgage Refinance refinances FHA 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. TIAA Mortgage Refinance only offers hybrid mortgages.
- Considers personal use and investment properties. Refinancing available for primary residences, secondary homes (e.g. vacation properties), and even investment homes such as rentals.
- Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
TIAA Mortgage Refinance Pros & Cons
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TIAA Mortgage Refinance FAQ
What is the maximum loan term for a mortgage refinance via TIAA 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. TIAA Mortgage Refinance offers mortgage refinancing with terms ranging from 15 to 30 years.
How long does TIAA mortgage take to refinance?
TIAA 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 TIAA mortgage charge a mortgage origination fee?
Yes, TIAA Mortgage Refinance will charge a loan origination fee .
What mortgage programs does TIAA mortgage offer?
TIAA 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%.
- 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 TIAA mortgage allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. TIAA Mortgage Refinance allows the following property usage types:
- Primary home
- Secondary homes and vacation properties
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Hours of Operation
Sunday
Closed
Monday
8:00AM - 9:00PM
Tuesday
8:00AM - 9:00PM
Wednesday
8:00AM - 9:00PM
Thursday
8:00AM - 9:00PM
Friday
8:00AM - 9:00PM
Saturday
Closed