Allied Mortgage Group Reviews

Allied Mortgage Group is ideal for homebuyers who want a guided mortgage experience. Buyers can work directly with a loan advisor to help select the right loan for their unique situation — and there are plenty of options from which to choose.

Allied Mortgage Group offers a loan for nearly any situation you can imagine, from purchasing and refinancing to renovations and investments. It’s also a great option for homebuyers who value a proven track record — the company has been in business for over 30 years.

However, buyers who prefer a more automated experience will want to look elsewhere. While you can complete your application online, you’ll need to work with a loan advisor throughout the process.

You have a few options for getting started with Allied Mortgage Group. If you prefer to work directly with a loan advisor, you can call Allied, or if you live in a state that has a branch, head to one of its 21 locations to start the process. You can also fill out a form online, although you’ll still end up dealing with a loan officer. The form just helps the company get an idea of you and your needs before reaching out.

With Allied Mortgage Group, you can request a prequalification or go straight for a loan preapproval. Prequalification is a less invasive process that gives you a general idea of how much you might be able to borrow. If you’re just starting to consider buying a home, prequalification can give you an idea of your target price range for a potential home.

Preapproval, on the other hand, requires a full loan application and is a more involved process. Usually this step is taken when you’re ready to buy and want to be able to make an offer on a home.

In either case, a loan advisor will work with you throughout the process to help ensure you get the right loan for your unique situation. They’ll request any additional information needed and move things forward so that you can close on your new home on schedule.

Allied Mortgage Group offers a wide range of loan products. If you’re purchasing a home, here are your options:

• Conventional loan: A standard mortgage that’s not insured by the government. You usually need at least a 620 credit score to qualify for a conventional mortgage.
• Jumbo loan: Also known as “nonconforming” loans. Jumbo loans are privately-backed loans used when financing exceeds the conventional loan limits set by the government.
• FHA loan: A loan that’s backed by the government. Designed to help first-time homebuyers with low to moderate income.
• VA loan: A government-backed loan designed to help U.S. military service members, veterans and their spouses purchase a home.
• USDA loan: A government-backed loan that’s geared toward rural homebuyers with low to moderate incomes.
• Low down payment options (Home Possible, HomeReady, FHA, USDA): These loans have more flexibility in down payment, credit score and other areas to help low- to moderate-income homebuyers purchase their home.

In addition to these purchasing options, Allied Home Group offers both rate and term refinancing and cash-out refinancing, plus home equity lines of credit (HELOCs).

Allied Mortgage Group does not state interest rates online. This makes sense since rates can vary quite a bit from case to case.

As a general rule, mortgage rates are generally tied to the bond market and 10-year Treasury note and can also be impacted by factors such as:

• Your credit score
• The location of the home you’re buying
• The type of loan you’re applying for (conventional, FHA, etc.)
• The loan term (30-year mortgages typically have higher interest rates than 15-year mortgages)
• The size of your down payment

Allied Mortgage Group also doesn’t provide any information on fees. However, closing costs are typically (though not always) between 2% and 6% of the loan amount.

Closing costs are made up of various lender fees, service fees, government fees and other fees. These will be listed in your loan estimate and closing disclosure so you’ll know what to expect before finalizing your loan. You can also request more details from an Allied Mortgage Group loan advisor.