Bridgeview Mortgage Corp Review: A Detailed Analysis Of The Lender
Most people looking to purchase a home are familiar with the countless mortgage loan options available. With such a large selection, it can be overwhelming trying to decide which lender you should choose. Bridgeview Mortgage Corporation is one option many consider, however, is it really the right choice?
In this honest Bridgeview Mortgage Corp review, we will provide an objective analysis of this mortgage lender and their customer experiences in order to help you make an informed decision. We will cover topics such as competitive rates and customer service of Bridgeview lender reviews.
Bridgeview Mortgage Corporation is a direct mortgage lender that offers a variety of mortgage products, including fixed-rate and adjustable-rate mortgages, conventional loans, FHA, Interest Only loans, No Down Payment, and HELOC. The company also offers a variety of refinancing options.
The minimum credit score required for approval varies depending on the loan product you are applying for, but generally ranges from 580-620. Bridgeview Mortgage Corporation does not have any published minimum income requirements, but your ability to repay the loan will be evaluated during the underwriting process.
|Loan Amount||Up to 1,000,000|
|Loan Terms(Years)||30, 20, 15 and 10 year terms.|
|Credit Score Range||580-620|
|No Origination Fee||They have a high origination fee.|
|Mortgage Programs||Conventional, FHA, Interest Only, Other Low / No Down Payment, FHA 203(k), HELOC|
|Employment Statuses Considered||N/A|
|Intended Use||Home purchase and refinancing|
|Joint Loan Applications Accepted||N/A|
|Property Type||Primary residences, secondary homes, investment properties, and vacation homes.|
|Verification Documents Required||Pay stubs, tax returns|
How Much Money Can You Borrow from Bridgeview Mortgage Corp?
If you are considering borrowing money from Bridgeview Mortgage Corporation, it’s important to understand how much you can borrow and what the terms of the loan will be.
Bridgeview Mortgage Corporation offers both home equity loans and lines of credit. The amount you can borrow depends on the value of your home, your creditworthiness, and your income.
On their website, it’s stated that they can lend you up to 95% of your total house cost and the maximum amount you can borrow is $1,000,000.
Bridgeview Mortgage Corp Pros & Cons
Just like any other lending company Bridgeview Mortgage Corp has both pros and cons that should be considered. One of their biggest pros is that the company has an A+ rating with the Better Business Bureau (BBB) and is also accredited by them. They also offer a big array of different loan types.
But even though there are good sides, you should not overlook the cons. In comparison to other lenders, they have high fees associated with all types of loans they offer.
- They have BBB accreditation
- Offer a wide range of loan programs
- Competitive interest rates
- Good online rating of 4 stars
- High approval rate
- High origination fees
- High closing costs
- Slow approval process
What is the Longest Loan Term You May Obtain from a Bridgeview Mortgage Corp?
Bridgeview Mortgage Corporation is a mortgage lender that offers a variety of loan products, including loans with long terms. The longest loan term you may obtain from Bridgeview Mortgage Corporation is 30 years.
This loan product is available for both purchase and refinance transactions. Rates and terms are subject to change without notice, so it’s important to speak to a loan officer to learn more about the current rates and terms for this loan product.
What Mortgage Rates Does Bridgeview Mortgage Corp Offer?
Bridgeview Mortgage Corp offers a wide variety of mortgage rates, depending on the type of loan you are looking for. One example is their 30-year fixed rate mortgage which has a current interest rate of 4.875%, while their 15-year fixed rate mortgage has a current interest rate of 4.25%.
They also offer adjustable-rate mortgages, which have interest rates that can change over time. Their 5/1 ARM has a current interest rate of 3.875%, while their 7/1 ARM has a current interest rate of 4.625%.
Overall, their mortgage rates are standard and the same as other lenders offer.
What is the Estimated Funding Time?
When it comes to the time it would take for an individual to be approved for a mortgage through Bridgeview Mortgage Corporation, the answer may vary. The approval process can take anywhere from a few days to a couple of weeks.
On their website, it’s stated that it sometimes takes between 3 to 5 business and on other occasions, it can take longer than that. However, once you are approved for funding, the money should be available within a week or so.
Do They Charge Mortgage Origination Fees?
Yes, Bridgeview Mortgage Corporation charges origination fees.
These fees are typically a percentage of the total loan amount and can range from 0.5% to 1.0%. For example, on a $100,000 loan, the origination fee would be $1,000.
In fact, they are considered high-fee lenders in comparison to others. But of course, the less amount you borrow the less your origination fee and closing cost will be.
Does Bridgeview Mortgage Corp Charge Prepayment Fees?
Prepayment fees are charges assessed by a lender when a borrower pays off their loan ahead of schedule.
These fees are designed to deter borrowers from refinancing or selling their property before the loan’s maturity date, as it can cost the lender money in lost interest payments. While some lenders charge prepayment fees, Bridgeview Mortgage Corporation does not assess these charges on any of its loans.
This policy allows borrowers the flexibility to repay their debt as soon as they are able to without any penalty, giving them peace of mind and saving them money.
What Mortgage Programs Are Available?
There are numerous mortgage programs available from Bridgeview Mortgage Corporation.
So, if you decide to work with them you can choose from the following loan programs:
- Conventional mortgage,
- Interest only loan
- Other Low / no down payment
- FHA 203(k)
Most of these loans are available in either a fixed-rate or adjustable-rate term. Andi in case you are looking for government-sponsored loans Bridgeview lender offers an FHA loan. They also offer a wide array of terms and conditions for each program to meet the unique needs of every borrower.
What Property Usage Types Does the Bridgeview Mortgage Corp Allow?
The Bridgeview Mortgage Corporation offers a variety of mortgage products for different types of properties. They offer loans for primary residences, secondary homes, investment properties, and even vacation homes. Each type of loan has different terms and conditions, so it’s important to consult with a loan officer to find the best fit for your needs.
Remember that every type of loan has different terms to it and different rates, so be careful. We advise you to talk to your loan officer about what exactly you need for the loan and how much funding you need.
How Do People Rate Customer Service and User Experience?
When it comes to the Bridgeview Mortgage Corporation, their reviews are a mix of everything. But that is more than expected. Overall, their score is 4 stars which is more than okay.
In comparison to other online lenders, Bridgeview has a very low amount of open complaints, which is very praisable. Of course, every experience is different, but you will get the needed help and assistance all the way through.
And if you were wondering is this Bridgeview lender legit, the simple answer is yes.
Contacts of Bridgeview Mortgage Corp
Bridgeview Mortgage Corporation was established back in 1995 but it became an incorporated business only in 2003. Since then, they have expanded their company and added more members to their team.
They are open for business from Monday to Friday from 9 am to 5 pm and you can reach Bridgeview loans by phone number or email. All of their staff members have their own phone numbers and emails, so if you wish to speak with someone in particular, you can do so.
The phone number they provided is +1 516-328-6300, and as for email, it’s [email protected].
Availability of Bridgeview Mortgage Corp
Bridgeview Mortgage Corporation is a residential mortgage lender that offers a variety of loan products to meet the needs of homebuyers and homeowners. The company is headquartered in New York City, New York, and has been around since 1995.
They offer a wide range of fixed-rate and adjustable-rate mortgage products, as well as home mortgages and government-backed loans. The company also offers home equity lines of credit and personal loans.
As of 2022, they are operating in New York, Punta Gorda, Miami, Philadelphia, and New Haven. Overall, they have good reviews and a good reputation, but either way, make sure to consult with an expert before you actually put your name on the dotted line.
Bridgeview Mortgage Corp Summary
- Bridgeview is a New York-based mortgage lender operating since 2003.
- They got a BBB accreditation in 2010 and have an A+ rating which makes Bridgeview Mortgage Corp a legit company.
- Bridgeview mortgage lender offers a wide range of loan types for customers who are either looking to purchase a home or refinance their existing mortgage.
- This mortgage lender is considered a high fee and besides origination and closing cost you will need to pay appraisal fees that can range from $200 to $500.
FAQs About Loan
1.Where is Bridgeview Mortgage Corp headquarters?
Bridgeview Mortgage Corp. has its headquarters in Franklin Square, New York with an address of 1200 Hempstead Turnpike.
2.Who are Bridgeview Mortgage Corp competitors?
The company’s competitors include Wall Street Capital, World King Equipment Finance, and Paragon Mortgage.
3.How is Bridgeview Mortgage Corp rated?
The company has a good overall online rating with an average of 4 stars.