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Atlantic Bay Mortgage Group

in Mortgage Brokers from Atlantic Bay Mortgage Group LLC · NMLS ID #72043

Unaffiliated

Atlantic Bay Mortgage Group

Unaffiliated

in Mortgage Brokers from Atlantic Bay Mortgage Group LLC · NMLS ID #72043

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Highlights
Highlights
Community Rating

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Broker Fee Payer Both
Broker Loan Origination Fees N/A
Type of Mortgage
  • Home Purchase
  • Hybrid Mortgage
  • Refinance
  • Reverse Mortgage

Atlantic Bay Mortgage Group Review

Atlantic Bay Mortgage Group services are offered by Atlantic Bay Mortgage Group LLC (NMLS #72043), a licensed broker founded in 1996 and based in Virginia Beach, VA. Atlantic Bay Mortgage Group services are available in 38 states (and Washington, DC).

How does Atlantic Bay Mortgage Group get paid?

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

Atlantic Bay Mortgage Group LLC 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 Atlantic Bay Mortgage Group 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 Atlantic Bay Mortgage Group charge broker administration fees?

No, Atlantic Bay Mortgage Group does not charge a broker administration fee.

Does Atlantic Bay Mortgage Group charge broker loan origination fees?

No, Atlantic Bay Mortgage Group does not charge a broker loan origination fees.

Does Atlantic Bay Mortgage Group charge broker upfront fees?

No, Atlantic Bay Mortgage Group does not charge broker upfront fees.

Does Atlantic Bay Mortgage Group charge a yield-spread premium?

No, Atlantic Bay Mortgage Group 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.

Atlantic Bay Mortgage Group Fees
Description
Broker Loan Origination Fees N/A
Broker Upfront Fees N/A
Broker Administration Fees N/A
Yield-Spread Premium N/A

What mortgage programs does Atlantic Bay Mortgage Group offer?

Atlantic Bay Mortgage Group 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.
  • 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 Atlantic Bay Mortgage Group broker?

Atlantic Bay Mortgage Group works with the following types of mortgages:
Type of Mortgage Options
Supported Options Unsupported Options
  • Hybrid Mortgage
  • Reverse Mortgage
  • Home Purchase
  • Refinance
  • Home Equity Loans
  • HELOC
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About Atlantic Bay Mortgage Group

Availability

  Available in 38 states and Washington, D.C.
  • Alabama
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • New Hampshire
  • New Jersey
  • New Mexico
  • North Carolina
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin

Atlantic Bay Mortgage Group Community Reviews

 

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