All Island Mortgage & Funding Brokerage
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| Broker Fee Payer | Borrower |
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All Island Mortgage & Funding Brokerage Review
All Island Mortgage & Funding Brokerage services are offered by All Island Mortgage & Funding (NMLS #3740), a licensed broker founded in 1989 and based in Smithtown, NY. All Island Mortgage & Funding Brokerage services available in 11 states across the USA.
How does All Island Mortgage & Funding Brokerage get paid?
Mortgage brokers get paid either by lenders or by borrowers. However, they cannot receive compensation from both parties.
All Island Mortgage & Funding gets paid by borrowers. This means All Island Mortgage & Funding works for you and will not be influenced by lender commissions. This fee model may help borrowers get lower rates and better terms, but it can also increase the upfront mortgage costs.
What fees does All Island Mortgage & Funding Brokerage 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 All Island Mortgage & Funding Brokerage charge broker administration fees?
No, All Island Mortgage & Funding Brokerage does not charge a broker administration fee.
Does All Island Mortgage & Funding Brokerage charge broker loan origination fees?
No, All Island Mortgage & Funding Brokerage does not charge a broker loan origination fees.
Does All Island Mortgage & Funding Brokerage charge broker upfront fees?
No, All Island Mortgage & Funding Brokerage does not charge broker upfront fees.
Does All Island Mortgage & Funding Brokerage charge a yield-spread premium?
No, All Island Mortgage & Funding Brokerage 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.
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What mortgage programs does All Island Mortgage & Funding Brokerage offer?
All Island Mortgage & Funding Brokerage 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%.
- Jumbo: Any mortgage with a loan amount above the conforming loan limits set by Fannie Mae and Freddie Mac. As of 2018, the jumbo threshold is $453,100 in most of the United States.
- 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 All Island Mortgage & Funding Brokerage broker?
All Island Mortgage & Funding Brokerage works with the following types of mortgages:| Supported Options | Unsupported Options |
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Contact
- Headquarters
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496 Smithtown By-Pass,
Suite 308
Smithtown, NY 11787 USA - (888) 660-3033
- Visit Site
- Email Support
About All Island Mortgage & Funding Brokerage
Availability
- Alaska
- California
- Colorado
- Connecticut
- Florida
- Montana
- New Jersey
- New York
- Pennsylvania
- Texas
- Washington
Feature Breakdown
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