|Loan Amount||$50,000 - $2,000,000|
|Loan Term (Years)||N/A|
Where does Alcova Mortgage LLC do business?
Alcova Mortgage LLC is a direct lender based in Roanoke, VA. The company was founded in 2003 and offers mortgages to borrowers in 9 states (and Washington, DC).
How much can you borrow via Alcova Mortgage LLC?
Alcova Mortgage LLC allows borrowers to apply for loan amounts of up to $2,000,000. Note that the maximum loan amount you can borrow will also vary depending on the type of mortgage you choose, regardless of the lender you choose.
Does Alcova Mortgage LLC charge a mortgage origination fee?
Yes, Alcova Mortgage LLC may charge a loan origination fee.
What mortgage programs does Alcova Mortgage LLC offer?
Alcova Mortgage LLC offers the following mortgage types:
- Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
- FHA: Mortgages insured by the FHA, which usually have less stringent eligibility requirements, but borrowers must pay a mortgage insurance premium. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
- FHA 203k: An FHA mortgage you can also use to finance home improvements.
- USDA: A zero down payment mortgage loan with low rates for suburban and rural homebuyers.
- VA: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses.
What property usage types does Alcova Mortgage LLC allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Alcova Mortgage LLC allows the following property usage types:
- Primary home
- Secondary homes and vacation properties
- Investment properties and house flipping projects
- Washington, DC
- North Carolina
- South Carolina
- West Virginia