Wintrust Mortgage Refinance
in Mortgage Refinance from Wintrust MortgageUnaffiliated
|Loan Amount||Up to $6,000,000|
|Loan Term (Years)||10 - 30 years|
Wintrust Mortgage Refinance Review
Wintrust Mortgage Refinance is offered by Wintrust Mortgage (NMLS #449042), a direct lender founded in 1981 and based in Rosemont, IL. Wintrust Mortgage Refinance is available in 50 states (and Washington, DC).
- 4 different mortgage programs offered. Wintrust 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. Wintrust 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.
What is the maximum loan term for a mortgage refinance via Wintrust 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. Wintrust Mortgage Refinance offers mortgages refinancing with terms ranging from 10 to 30 years.
Does Wintrust Mortgage Refinance charge a mortgage origination fee?
Yes, Wintrust Mortgage Refinance will charge a loan origination fee.
What mortgage programs does Wintrust Mortgage Refinance offer?
Wintrust 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 Wintrust Mortgage Refinance allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Wintrust 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