Home Purchase Loans
Allied Offers Numerous Home Purchase Loan Options
There’s never really a bad time to buy a home. Your lifestyle, financial situation and long-term
plans should all factor into your decision.
If you’ve been shopping and your offer has been accepted, we can streamline the loan
experience to help get you into your home as quickly as possible. If you’re still looking, get
prequalified now so home sellers will take your bid seriously when you’re ready to make an
offer.
Talk to one of our licensed loan officers to get started.
Conventional Fixed-Rate Mortgage Loans:
These are your typical home loans often associated with 15- and 30-year terms. The fixed rate offers borrowers certainty with a consistent monthly payment amount, regardless of future rate fluctuations.
Benefits
- Fixed rates mean consistent principal and interest payments.
- The loan will fully amortize over the life of the mortgage.
- Payment doesn’t change when interest rates change.
Adjustable-Rate Mortgage Loans:
As the name implies, these adjustable-rate mortgages (ARMs) feature an interest rate that changes after a fixed amount of time. ARMs typically offer lower interest rates than fixed mortgages initially but reset to the market rates after a pre-defined number (often 5, 7, and 10 ) of years. Note there’s always the potential that rates increase over time, which is why we don’t recommend these loans for risk-averse borrowers or borrowers.
Benefits
- Lower payments and initial interest rates
- Paydown mortgage faster
- Buy more house.
Jumbo Loans:
A jumbo loan is a mortgage for an amount that exceeds the limits set by Fannie Mae and Freddie Mac. So as its name implies, a jumbo loan covers a larger than normal loan amount.
Benefits
- Allows you to borrow more than traditional loans.
- Opportunity to buy a larger, more luxurious home.
- Finance multi-unit investment properties and second homes
