Affirm Home Loans Mortgage Broker
in Mortgage Brokers from Affirm Home LoansUnaffiliated
|Broker Fee Payer||Both|
|Broker Loan Origination Fees||Starting at 1%|
|Type of Mortgage||
Affirm Home Loans Mortgage Broker Review
Where does Affirm Home Loans Mortgage Broker do business?
Affirm Home Loans Mortgage Broker is a mortgage broker with headquarters in Plano, TX. It operates in 2 states.
The company was founded in 2005 and helps borrowers find a direct lender that will approve the loan amounts, rates, and terms they require.
How does Affirm Home Loans get paid?
Mortgage brokers get paid either by lenders or by borrowers. However, they cannot receive compensation from both parties.
Affirm Home Loans offers lender and borrower-paid fee models. Borrowers can choose which model works best for their circumstances. Typically, lender-paid compensation rates result in higher fees for borrowers. However, borrower-paid rates increase the upfront costs of getting a mortgage.
What fees does Affirm Home Loans charge?
Although cost should not be the only factor when choosing mortgage brokers, it is smart to compare the rates, fees, and services mortgage brokers offer before making a decision.
Does Affirm Home Loans Mortgage Broker charge broker administration fees?
No, Affirm Home Loans does not charge a broker administration fee.
Does Affirm Home Loans charge broker loan origination fees?
Yes, Affirm Home Loans charges borrowers a broker loan origination fee starting at 1%.
Does Affirm Home Loans Mortgage Broker charge broker upfront fees?
No, Affirm Home Loans does not charge broker upfront fees.
Does Affirm Home Loans charge a yield-spread premium?
No, Affirm Home Loans does not receive a yield spread premium from borrowers. Brokers that are paid a yield-spread premium from lenders have an incentive to steer borrowers to lenders thatt offer higher yield-spread premiums even if they qualify for a lower interest with another lender. This is not always bad for borrowers as it can lower the upfront costs of a mortgage. For instance, borrowers who only plan to hold a mortgage for a few years may find this option cheaper.
|Broker Loan Origination Fees||N/A|
|Broker Upfront Fees||N/A|
|Broker Administration Fees||N/A|
What mortgage programs does Affirm Home Loans Mortgage Broker offer?
Affirm Home Loans Mortgage Broker offers the following mortgage programs:
- 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%.
- HARP: A mortgage refinance program for home loans owned or backed by Fannie Mae or Freddie Mac. No minimum credit score or value appraisal required.
- 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 types of mortgage does Affirm Home Loans broker?Affirm Home Loans works with the following types of mortgages:
|Supported Options||Unsupported Options|