Why Alvorada Mortgage?

WE ARE A MORTGAGE BROKER

Alvorada Mortgage is a full-service mortgage broker. What does that mean? It means that when you apply for a mortgage with Alvorada Mortgage, we are affiliated with multiple wholesale lending institutions. We can shop your mortgage with a variety of wholesale mortgage companies to find the mortgage suited exactly to your needs and at the lowest rate. When you apply for a loan with Alvorada Mortgage, you are essentially applying at all the lending institutions that we are affiliated with all at once. We compare loan terms, rates, down payment requirements, income requirements etc. to find the loan that best services you need and at the lowest overall cost to you. Also, because of the arrangements we have with our wholesale mortgage companies, we do not benefit by charging you a higher rate or charging excessive fees on the mortgage services we provide. In fact, we are limited by law and by our wholesale mortgage broker agreements as to the amount of compensation we can receive in brokering your loan. This ensures all the savings go straight to your pocket!

WE ARE NOT A DIRECT LENDER

On the other hand, we have what we in the industry call retail or direct lenders. Most lenders in the industry fall into this category. These are the national banks, credit unions, community banks, and mortgage companies you see driving down the street and all over television and internet ads. In fact, about 80% of the loans today are originated through these direct lenders. These lenders lend you funds directly from their available mortgage fund pool and usually within the guidelines set by the government or government backed financial institutions such as Fannie Mae and Freddie Mac. Many of these direct lenders only lend funds based off these conforming guidelines leaving you in the dark if you need any special type of loan or special consideration. Direct lenders can also benefit by charging you higher rates than you might otherwise qualify for, thus padding their bottom line!

WE HAVE ACCESS TO A VARIETY OF LENDING PRODUCTS

Another benefit to working with Alvorada Mortgage is that many of our lending partners cater their loans to a specific type of borrower. We are affiliated with lenders that specifically work with the following types of borrowers. These loan types we originate include the usual Conventional, FHA, USDA, VA and Jumbo Loans but also the following types of loans.
• Loans for self-employed borrowers
• Loans for individuals with short employment histories (under 2 years)
• Loans for investors and investment properties (including those with over 10 investment properties)
• Loans for a second homes and vacation homes
• Loans for Foreign nationals and Permanent Resident Aliens
• ITIN Loans for individuals without a social security number
• Low Doc or No Doc Home Loans, where very little documentation is needed to be provided to obtain a loan.