AnnieMac Home Mortgage Broker
in Mortgage Brokers from AnnieMac Home MortgageUnaffiliated
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AnnieMac Home Mortgage Broker Review
AnnieMac Home Mortgage Broker services are offered by AnnieMac Home Mortgage (NMLS #338923), a licensed broker founded in 2011 and based in Mount Laurel, NJ. AnnieMac Home Mortgage Broker services are available in 39 states (and Washington, DC).
How does AnnieMac Home Mortgage Broker get paid?
Mortgage brokers get paid either by lenders or by borrowers. However, they cannot receive compensation from both parties.
AnnieMac Home 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 AnnieMac Home 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 AnnieMac Home Mortgage Broker charge broker administration fees?
No, AnnieMac Home Mortgage Broker does not charge a broker administration fee.
Does AnnieMac Home Mortgage Broker charge broker loan origination fees?
No, AnnieMac Home Mortgage Broker does not charge a broker loan origination fees.
Does AnnieMac Home Mortgage Broker charge broker upfront fees?
No, AnnieMac Home Mortgage Broker does not charge broker upfront fees.
Does AnnieMac Home Mortgage Broker charge a yield-spread premium?
No, AnnieMac Home 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.
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What mortgage programs does AnnieMac Home Mortgage Broker offer?
AnnieMac Home 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 AnnieMac Home Mortgage Broker broker?AnnieMac Home Mortgage Broker works with the following types of mortgages:
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- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- Rhode Island
- South Carolina
- West Virginia
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