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  Allen Tate Mortgage Broker

Allen Tate Mortgage Broker

in Mortgage Brokers from Allen Tate Mortgage · NMLS ID #1433719

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Allen Tate Mortgage Broker

Unaffiliated

in Mortgage Brokers from Allen Tate Mortgage · NMLS ID #1433719

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Highlights
Highlights
Broker Fee Payer Both
Broker Loan Origination Fees 1% - 6%
Type of Mortgage
  • Home Purchase
  • Hybrid Mortgage
  • Refinance

Allen Tate Mortgage Broker Review

Allen Tate Mortgage Broker services are offered by Allen Tate Mortgage (NMLS #1433719), a licensed broker founded in 1988 and based in Charlotte, NC. Allen Tate Mortgage Broker services are available in 2 states across the USA.

How does Allen Tate Mortgage Broker get paid?

Mortgage brokers get paid either by lenders or by borrowers. However, they cannot receive compensation from both parties.

Allen Tate Mortgage 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 Allen Tate Mortgage Broker 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 Allen Tate Mortgage Broker charge broker administration fees?

No, Allen Tate Mortgage Broker does not charge a broker administration fee.

Does Allen Tate Mortgage Broker charge broker loan origination fees?

Yes, Allen Tate Mortgage Broker charges borrowers a broker loan origination fee of 1% to 6%.

Does Allen Tate Mortgage Broker charge broker upfront fees?

No, Allen Tate Mortgage Broker does not charge broker upfront fees.

Does Allen Tate Mortgage Broker charge a yield-spread premium?

No, Allen Tate Mortgage Broker 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.

Allen Tate Mortgage Broker Fees
Description
Broker Loan Origination Fees 1% - 6%
Broker Upfront Fees N/A
Broker Administration Fees N/A
Yield-Spread Premium N/A

What mortgage programs does Allen Tate Mortgage Broker offer?

Allen Tate 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%.
  • FHA 203k: An FHA mortgage you can also use to finance home improvements.
  • 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.
  • 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 Allen Tate Mortgage Broker broker?

Allen Tate Mortgage Broker works with the following types of mortgages:
Type of Mortgage Options
Supported Options Unsupported Options
  • Hybrid Mortgage
  • Home Purchase
  • Refinance
  • Home Equity Loans
  • HELOC
  • Reverse Mortgage
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About Allen Tate Mortgage Broker

Availability

  Available in 2 states
  • North Carolina
  • South Carolina

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