Paddio offers a wide variety of mortgage types, but the following requirements are consistent across its mortgage products:
- Customers must be US citizens or permanent residents
- Must be 18 years of age or older
- A credit score of 620 or more
- A down payment of 3.5%-5% is required for a Government support loan
- A down payment of 3%-20% is needed for a conventional loan
- Must be able to display a consistent income stream
Loans of up to $2,000,000 are available, and loan terms of either 15, 20, 25, or 30 years can be chosen. Paddio offers conventional loans alongside loan refinancing, jumbo loans, VA, FHA, and USDA loans. Unfortunately, Paddio does not provide a range of interest rates on its website, so the only way to find out what interest rates are available is by going through the application process. We know that interest rates start at 3.89%, but more visibility of rates on the website would be helpful.