Allied Home Mortgages

About Allied Home Mortgages

Allied Home Mortgage Capital Corporation (AHMCC) is a mortgage broker. A broker, unlike a mortgage banker, does not originate or service the loan. Instead, the mortgage broker acts as a middle man, bringing qualified customers and lenders together. That means that Allied Home Mortgages is free to shop around and offer several options to each client. The broker, in turn, receives a commission when the loan closes.

AHMCC works with hundreds of investors representing thousands of mortgage products. The company researches each market to discover local buying and lending trends. Since they work with a diverse group of lenders, they are able to offer an assortment of mortgage products. This gives them greater flexibility in finding appropriate home loans for each client's individual circumstances.

Allied currently has offices in 49 states and in the Virgin Islands. Handling as many as 12,000 mortgage loans monthly, AHMCC is the largest private mortgage broker in America.

Benefits of Working with a Broker

There are several benefits to working with a mortgage broker instead of a conventional mortgage banker, including:

• More options
• More convenience
• Quicker approval
• Higher chance of approval
• Customized loan packages

Who Can Apply

Allied Home Mortgages works with a wide variety of customers, even some who may be difficult to approve. Some programs offered are geared toward:

• First Time Homebuyers
• Singles
• Retirees
• Investors
• Self-employed Individuals

Since AHMCC works with many different lenders, they also work with various approval criteria. They have the ability to get approvals for individuals in different circumstances.

Express Approval

Allied Home Mortgages uses the innovative Express Approval program, which allows potential clients to apply online and get approval within minutes. Unlike a pre-approval or pre-qualification letter, Express Approval is an actual, binding loan approval, pending verification of entered information.

The Application

The application is a detailed document, asking for a wide variety of information. In order to be considered for a mortgage loan, you must give the company a clear picture of your financial situation, including debt, assets, and credit. To speed up the application process, you should have the following information available:

• Current and previous residence information
• Employment information
• Income
• Expenses
• Assets, including real estate, automobiles, and investments
• Liabilities, including loans, child support, and work expenses

Mortgage Calculators at Allied Home Mortgages

If you would like to do a little homework before you apply, Allied provides several interactive Online Mortgage Calculators. Simply enter some basic information, click "enter," and find out:

• How much home you can afford
• What your Mortgage Payments will be
• What your closing costs will be
• Whether or not you should refinance your existing home
• Whether you should rent or buy
• How much money you should put down

Remember, as with any Online Mortgage Calculators, these figures are merely estimates. Actual figures can vary depending on your circumstances and the mortgage products you choose. Still, the calculators can give you a clearer picture of your home-buying forecast.