|Loan Amount||Up to $1,500,000|
|Loan Term (Years)||15 - 30 years|
Veterans United Mortgage Refinance Review
Veterans United Mortgage Refinance is offered by Veterans United Home Loans (NMLS #1907), a direct lender founded in 2002 and based in Columbia, MO. Veterans United Mortgage Refinance is available in 50 states (and Washington, DC).
- Origination fee of 1%. This is on the low end for lenders that charge an origination fee. However, some lenders don't charge an origination fee.
- 3 different mortgage programs offered. Veterans United 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. Veterans United Mortgage Refinance only offers hybrid mortgages.
- Considers personal use and investment properties. Refinancing available for primary homes, vacation homes, and even investment homes, such as rental properties.
What is the maximum loan term for a mortgage refinance via Veterans United?
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. Veterans United Mortgage Refinance offers mortgage refinancing with terms ranging from 15 to 30 years.
How long does Veterans United take to refinance?
Generally, it takes Veterans United between 30 and 45 days to complete a refinance. Of course, this is just an estimate. The exact time will vary depending on the lender and the market.
Does Veterans United charge a mortgage origination fee?
Yes, Veterans United Mortgage Refinance will charge a loan origination fee of 1% of the loan amount.
Does Veterans United charge prepayment fees?
No, Veterans United Mortgage Refinance does not charge prepayment fees. This means you will not have to pay additional fees if you decide to repay the mortgage early.
What mortgage programs does Veterans United offer?
Veterans United 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 Veterans United allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Veterans United Mortgage Refinance allows the following property usage types:
- Primary home
- Secondary homes and vacation properties
Message From Veterans United Home Loans
Message From Our Editor
- Washington, DC
- North Carolina
- North Dakota
- New Hampshire
- New Jersey
- New Mexico
- New York
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
|No Prepayment Fee|
|Origination Fee (%)||1%|
|Employment Statuses Considered||
|Immigration Status Considered||
|Verification Documents Required||
|APR||1% - 8%|
|Loan Term||15 - 30 years|
|Loan Amount||Up to $1,500,000|
|Interest Rate Types Offered||Hybrid Mortgage|
|Terms||15, 20, 25 and 30 years|
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