Homebridge Financial Services overview
Homebridge Financial Services is one of the largest privately held, non-bank lenders in the U.S. The company has more than 2,000 associates, more than 200 retail branches and two wholesale divisions, Homebridge Wholesale and REMN Wholesale.
While the organization offers a variety of home mortgage and refinancing options, it has carved out a reputation for servicing renovation mortgages. The U.S. Department of Housing and Urban Development (HUD) recognized Homebridge Financial Services as the No. 1 lender in 203(k) renovation loans in 2019.
Founded in 1989 as REMN, Homebridge Financial Services maintains its corporate headquarters in Iselin, New Jersey. At the close of 2019, 30 years since its founding, the company had funded more than $17.3 billion in home loans.
- Adjustable (ARM)
- Jumbo and super-jumbo
- Cash-out refinancing
- No-cash out refinancing
- Home equity lines of credit (HELOCs)
- Second home and investment property loans
Homebridge Financial Services lender fees total $1,225. However, the lender doesn’t charge loan origination fees. There may be a fee for rate-lock extensions, which may be partially refunded.
Minimum borrower requirements
Homebridge Financial Services offers a variety of loans, each of which has unique minimum borrower requirements. Borrowers must connect with a mortgage loan originator directly to learn the requirements.
FHA loans through Homebridge Financial Services require a 3.5 percent minimum down payment, with a maximum debt-to-income ratio (DTI) of 57 percent. On conventional loans, the borrower must have at least a 3 percent down payment (depending on income) and a maximum DTI of 50 percent.
Homebridge Financial Services is committed to educating borrowers on the various loans available. Regional branches regularly offer educational events, including some geared toward first-time homebuyers. Eligible borrowers may participate in the Homebridge Home Rewards program to receive a $595 gift card upon closing.
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