TIAA Mortgage Refinance
in Mortgage Refinance from TIAA BankUnaffiliated
|Loan Amount||Up to $3,000,000|
|Loan Term (Years)||15 - 30 years|
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 Refinance is available in 50 states (and Washington, DC).
- Mortgage programs available. TIAA Mortgage Refinance refinances FHA, HARP, VA, conforming, and conventional mortgages.
- Interest Rate Types. TIAA 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 refinance loan early.
TIAA Mortgage Refinance Pros and Cons:
What is the maximum loan term for a mortgage refinance via TIAA 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. TIAA Mortgage Refinance offers mortgages refinancing with terms ranging from 15 to 30 years.
What is the estimated funding time for a mortgage refinance with TIAA Mortgage Refinance?
TIAA Mortgage Refinance will typically fund mortgage refinances within day of approval.
Does TIAA Mortgage Refinance charge a mortgage origination fee?
Yes, TIAA Mortgage Refinance will charge a loan origination fee.
What mortgage programs does TIAA Mortgage Refinance 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%.
- HARP: A mortgage refinance program for home loans owned or backed by Fannie Mae or Freddie Mac. No minimum credit score or value appraisal required.
- 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 Refinance 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
- 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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