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 and has served over 200,000 mortgages.

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 prequalification or go straight for a loan preapproval. Prequalification is less invasive; if you’re just starting to consider buying a home, prequalification can give you an idea of how much you might be able to borrow.

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 fixed-rate mortgage loan: A standard mortgage that isn’t backed by the government. You’ll pay a fixed interest rate for the life of the loan. Most lenders require a credit score of at least 620 to qualify.
• Adjustable-rate mortgage (ARM) loan: ARMs start with a lower fixed rate for a set period — often five, seven or 10 years — before adjusting periodically based on market rates. These loans may be a good option if you plan to sell or refinance before the adjustment period begins.
• Jumbo loan: Also known as nonconforming loans, jumbo mortgages are used when the loan amount exceeds the conforming loan limits set by federal housing agencies.
• FHA loan: Backed by the Federal Housing Administration, FHA loans are designed to help borrowers with lower credit scores or smaller down payments qualify for a mortgage.
• VA loan: Backed by the Department of Veterans Affairs, VA loans help eligible U.S. service members, veterans and some surviving spouses purchase a home, often with no down payment.
• USDA loan: Backed by the U.S. Department of Agriculture, USDA loans are intended for low- to moderate-income borrowers purchasing homes in eligible rural or suburban areas.
• Low-down-payment options (Home Possible, HomeReady): These programs offer flexible credit and income requirements and allow qualified borrowers to purchase a home with as little as 3% down.
• Renovation loans (203(k) and HomeStyle): These loans allow buyers to finance both the purchase of a home and the cost of renovations with a single mortgage.
• Self-employed and gig worker loan options: Allied advertises more than 30 years of experience helping borrowers with nontraditional income qualify for home loans.
• Investment loans: Allied offers financing for real estate investors, including DSCR loans and fix-and-flip loans.

Allied also offers down payment assistance grants to qualifying buyers, but availability varies by state and municipality.

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 include 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.