DECEMBER 16TH, 2018

Alliance Mortgage

Founded in 1992, Alliance Mortgage is an internet-based lender, offering mortgages to borrowers with any credit history. Because all lending is done on the Internet, costs are low for Alliance, allowing the company to loan at low rates. Alliance works with hundreds of lenders across the country to ensure the lowest rates for its clients.

Loans Offered by Alliance Mortgage

  • First mortgages; 100% or 80/20 first and second mortgage with no down payment
  • 103% loans, to cover closing costs, no down payment
  • Adjustable rate mortgages
  • Second home loans
  • Interest-only loans
  • 40- and 50-year amortized loans
  • Stated income loans, for self-employed
  • Refinance products
  • Second mortgages
  • Home equity loans and lines of credit; 15 year amortization on loans; up to 125%
  • Specialize in bad credit loans
  • FHA loans
  • Debt consolidation home loan

Through follow-up surveys, Alliance Mortgage has tracked customer satisfaction; 70% of customers would refer someone to Alliance, and 50% rated the service they received as “excellent,” with no response indicating “below average.”

Some advantages to doing business with Alliance: no origination, upfront or application fees. This results in a savings of from .625 to 1 point over other internet or traditional lenders. Keeping the initial costs down facilitates the process, and makes the loan more affordable. Alliance always offers competitive rates, and with a flat fee of $400 is very competitive with other lenders. They will not prefer one lender over another for the sake of promotions; Alliance offers unbiased advice, relying on the knowledge of its professionals and their assessment of the best product for the customer. You will know from the start what closing costs are estimated; Alliance provides a good faith estimate up front, so there are no surprises at closing time. The company will refund $500 if the transaction does not close on time, with certain underwriting and loan guidelines met.

Alliance also guarantees never to divulge or sell information obtained on the Internet for any purpose other than writing a loan. They take web security seriously. The website is updated daily, so information is always current and rates are in fact what is available.

Alliance Mortgage specializes in non-traditional borrowers, with FICO scores from 500 acceptable. They will provide a higher loan to value for poor credit than most other lenders. They will work with bankruptcies, repossessions, charge-offs and late mortgage payments. Second mortgages require no equity, and can be up to 100%. A minimum FICO score of 600 qualifies for second mortgage loans, and 640 for stated income seconds. Alliance will work with you to find the best solution to your credit problems.

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This site is not a broker and does not collect or solicit mortgage applications. Content is for informational or comparison purposes only. Services are not available in New York. Products and services may not be available in all other states.