Posted on: 31st Mar, 2007 06:57 pm
hi guys, has anyone heard of Allied Home Mortgage Capital Corporation? We received a letter from them that they can lower monthly mortgage payment by $488/month. Current mortgage of our home is $2000, which is a bit too high. If we can lower it to $1500/month it will be better for us.
Also, anyone can recommend a good mortgage company which we can can give a lower monthly payment for us? thanks-minimee
Also, anyone can recommend a good mortgage company which we can can give a lower monthly payment for us? thanks-minimee
Well they claim to be largest net branch company in the country & have license in all states. But I tried their site & it is not opening, alliedmtgcapital.com
"We received a letter from them that they can lower monthly mortgage payment by $488/month."
Did they give a plan of how the payments will be reduced..
"We received a letter from them that they can lower monthly mortgage payment by $488/month."
Did they give a plan of how the payments will be reduced..
it says on the letter:
Our new rate reduction plan with a fixed rate (30year) of 5.375(APR 5.93%) could substantially reduce your monthly payments.
example
$270,000 - estimated first loan balance
$2000 - estimated monthly payment
$1512 - new monthly mortgage payment(escrow fees not included)
based on this estimate you will save $488 every month more than $5,856 over a year.
Our new rate reduction plan with a fixed rate (30year) of 5.375(APR 5.93%) could substantially reduce your monthly payments.
example
$270,000 - estimated first loan balance
$2000 - estimated monthly payment
$1512 - new monthly mortgage payment(escrow fees not included)
based on this estimate you will save $488 every month more than $5,856 over a year.
"Also, anyone can recommend a good mortgage company which we can can give a lower monthly payment for us?"
You need to contact a few more mortgage companies and see what kind of rates they are offering. Do not just rely on what allied have offered. And the rate for frm they have quoted is below what the current rates are, you need to ask them how they are possibly able to provide you such low rate.
You need to contact a few more mortgage companies and see what kind of rates they are offering. Do not just rely on what allied have offered. And the rate for frm they have quoted is below what the current rates are, you need to ask them how they are possibly able to provide you such low rate.
I am with Allied Home Mortgage and Mehlhorn was not clear when he wrote "Well they claim to be largest net branch company in the country & have license in all states." He forgot to add that we are the largest U.S. PRIVATELY held mortgage banker/mortgage broker.
To be honest, I am not familiar with the program that was offered to you. But will do some research for you and find out.
About what derek wrote "And the rate for frm they have quoted is below what the current rates are, you need to ask them how they are possibly able to provide you such low rate." It is below the NATIONAL average rate, not below then the lowest current rate.
However, Derek does provide good advice. Do some shopping with more lenders and mortgage brokers. Doing so will provide you a feel for what the market is like and cause competition with each other to receive your business. Also remember to work with the lender that you feel or know will educate you on the program they are offering. Ask lots of questions and do research on each lender you are working with.[/quote]
To be honest, I am not familiar with the program that was offered to you. But will do some research for you and find out.
About what derek wrote "And the rate for frm they have quoted is below what the current rates are, you need to ask them how they are possibly able to provide you such low rate." It is below the NATIONAL average rate, not below then the lowest current rate.
However, Derek does provide good advice. Do some shopping with more lenders and mortgage brokers. Doing so will provide you a feel for what the market is like and cause competition with each other to receive your business. Also remember to work with the lender that you feel or know will educate you on the program they are offering. Ask lots of questions and do research on each lender you are working with.[/quote]
Problems with our link? Please try the link below:
"http://www.alliedmtgcapital.com"
I have test it several times today and have contacted our IT dept if we were having any network connection issues. He has indicated to me that there were no issues with our website or network connections.
Please give it a try.
Thank you,
[Link deactivated as per forum rules. Thanks.]
"http://www.alliedmtgcapital.com"
I have test it several times today and have contacted our IT dept if we were having any network connection issues. He has indicated to me that there were no issues with our website or network connections.
Please give it a try.
Thank you,
[Link deactivated as per forum rules. Thanks.]
I agree with you Wablola, it is better to shop around with some lenders before taking the decision as to who will be the right person to deal with.
One should ask the lender or the company as many questions as possible so that he is completely clarified with the things that he has to deal with when he is taking out a mortgage.
One should ask the lender or the company as many questions as possible so that he is completely clarified with the things that he has to deal with when he is taking out a mortgage.
hello aixprovenceparis,
i did some research and haven't received anything from corporate office. wondering if possible if you can email me a copy of that letter that was sent to you.
i am assuming that the program that they are offering might be about refinance with a pay option arm to a lower payment but would have negative amortization. in my opinion, not a good deal if you plan on living in the same home for the long term.
hope this helps.
i did some research and haven't received anything from corporate office. wondering if possible if you can email me a copy of that letter that was sent to you.
i am assuming that the program that they are offering might be about refinance with a pay option arm to a lower payment but would have negative amortization. in my opinion, not a good deal if you plan on living in the same home for the long term.
hope this helps.
"I am with Allied Home Mortgage and Mehlhorn was not clear when he wrote "Well they claim to be largest net branch company in the country & have license in all states." He forgot to add that we are the largest U.S. PRIVATELY held mortgage banker/mortgage broker. "
Wenzel, I tried to open alliedmtgcapital.com that day, but must be that my internet connection had some problem and because of it that site did not open. As you later said that there was no problem with the site.
Wenzel, I tried to open alliedmtgcapital.com that day, but must be that my internet connection had some problem and because of it that site did not open. As you later said that there was no problem with the site.
Hello,
I would love the opportunity to show what I can offer you. I look forward to speaking to you. Have a good one!
From your friend,
I would love the opportunity to show what I can offer you. I look forward to speaking to you. Have a good one!
From your friend,
According to my daily research and study I will recommend you to the following lenders who have good loan products with flexible rates for borrowers :
1.) Citimortgage
2.) SunTrust
3.) National City Mortgage
4.) Flagstar Bank
5.) American Mortgage Network - now known as VERTICE
6.) Wells Fargo
7.) Aurora Loan Services
8.) Greenpoint Mortgage
9.) HSBC
10.) Interfirst Bank
Above banks are really doing good, have good products and have fantastic rates with them.
I will suggest you to check out from the above 10.
Regards
Sagar
1.) Citimortgage
2.) SunTrust
3.) National City Mortgage
4.) Flagstar Bank
5.) American Mortgage Network - now known as VERTICE
6.) Wells Fargo
7.) Aurora Loan Services
8.) Greenpoint Mortgage
9.) HSBC
10.) Interfirst Bank
Above banks are really doing good, have good products and have fantastic rates with them.
I will suggest you to check out from the above 10.
Regards
Sagar
Posted: 21 May 2007 17:29 Post subject:
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am with Allied Home Mortgage and Mehlhorn was not clear when he wrote "Well they claim to be largest net branch company in the country & have license in all states." He forgot to add that we are the largest U.S. PRIVATELY held mortgage banker/mortgage broker.
To be honest, I am not familiar with the program that was offered to you. But will do some research for you and find out.
About what derek wrote "And the rate for frm they have quoted is below what the current rates are, you need to ask them how they are possibly able to provide you such low rate." It is below the NATIONAL average rate, not below then the lowest current rate. If you are going to quote rate then expand upon the APR......under current market conditions that rate is not possible unless you are paying about 2 discount points....
However, Derek does provide good advice. Do some shopping with more lenders and mortgage brokers. Doing so will provide you a feel for what the market is like and cause competition with each other to receive your business. Also remember to work with the lender that you feel or know will educate you on the program they are offering. Ask lots of questions and do research on each lender you are working with.
--------------------------------------------------------------------------------
am with Allied Home Mortgage and Mehlhorn was not clear when he wrote "Well they claim to be largest net branch company in the country & have license in all states." He forgot to add that we are the largest U.S. PRIVATELY held mortgage banker/mortgage broker.
To be honest, I am not familiar with the program that was offered to you. But will do some research for you and find out.
About what derek wrote "And the rate for frm they have quoted is below what the current rates are, you need to ask them how they are possibly able to provide you such low rate." It is below the NATIONAL average rate, not below then the lowest current rate. If you are going to quote rate then expand upon the APR......under current market conditions that rate is not possible unless you are paying about 2 discount points....
However, Derek does provide good advice. Do some shopping with more lenders and mortgage brokers. Doing so will provide you a feel for what the market is like and cause competition with each other to receive your business. Also remember to work with the lender that you feel or know will educate you on the program they are offering. Ask lots of questions and do research on each lender you are working with.
I am in the process of obtaining a home loan through Allied & I would not reccomend the branch I am using. I never get updates, we are out of our lease home, with 6 people staying in a travel trailer because our approval was delayed. Now I hear we have approval but are waiting on the clear to close. I'm very frustrated with them.
Doing a bit of research on service levels of mortgage providers is a great idea - you'll be working with these people for a long time so it shouldn't just be the interest rate you look at.