Where does All Island Mortgage & Funding do business?
All Island Mortgage & Funding is a direct lender based in Smithtown, NY. The company was founded in 1989 and offers mortgage refinancing to borrowers in 11 states across the USA.
What is the maximum loan term for a mortgage refinance via All Island Mortgage & Funding?
The term of a mortgage refinance will determine the cost of your monthly payments. Longer terms will typically reduce your monthly payments but it will also increase the interest you pay. All Island Mortgage & Funding offers mortgages refinancing with terms ranging from 15 to 30 years.
Does All Island Mortgage & Funding charge a mortgage origination fee?
Yes, All Island Mortgage & Funding may charge a loan origination fee.
What mortgage programs does All Island Mortgage & Funding offer?
All Island Mortgage & Funding offers the following mortgage types:
- 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 property usage types does All Island Mortgage & Funding allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. All Island Mortgage & Funding allows the following property usage types:
- Primary home
- Secondary homes and vacation properties
Other Services by All Island Mortgage & Funding
- New Jersey
- New York