Posted on January 26th, 2021
Today we’ll deep dive into “Allied Mortgage Group,” an East Coast lender founded in the 1990s that is “built on integrity, reputation, and commitment.”
They believe they’re a good choice for prospective home buyers and existing homeowners because of their streamlined loan process, years of expertise, and excellent customer service.
Additionally, the company boasts a 98.8% recommend rate from its customers and partners.
Allied Mortgage Group Quick Facts
- Direct-to-consumer mortgage lender and loan servicer
- Founded in 1993, headquartered in Bala Cynwyd, Pennsylvania
- Offer home purchase loans and mortgage refinancing
- Funded roughly $1 billion in home loans last year
- Currently licensed in 33 states and the District of Columbia
- Also operate a wholesale lending division for mortgage brokers
Allied Mortgage Group is a direct-to-consumer retail mortgage lender and loan servicer based in the suburbs of Philadelphia, Pennsylvania.
They’ve been around since 1993, so they might know a thing or two about mortgages.
Last year, the company funded about $1 billion in home loans, with more than $300 million coming from their home state of PA.
Another $200 million or so came from nearby New Jersey, along with $100 million+ from the state of New York.
While they’re most active on the East Coast, they are licensed in 33 states along with the District of Columbia.
They are not available in Alaska, Arkansas, Hawaii, Idaho, Iowa, Mississippi, Missouri, Montana, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, South Dakota, Utah, Wisconsin, or Wyoming.
Allied runs six operations centers and 18 regional offices throughout the country, with local loan officers serving their own communities.
About two-thirds of their total loan volume came from home purchase loans, with the remainder almost evenly split between refinance loans and HELOCs.
How to Apply for a Home Loan with Allied Mortgage Group
- You can apply directly from their website in minutes without assistance
- They offer a digital mortgage application powered by Ellie Mae
- Allows you to complete much of the process paperlessly from any device
- But they also have physical branches and loan officers available if you want a more hands-on experience
Allied Mortgage Group says it handles all loan processing, underwriting, and closings under one roof, which allows them to generate quick turnaround times.
On top of that, they offer a digital mortgage application powered by Ellie Mae, a leader in the fintech space.
Borrowers who are eager to apply can simply visit the Allied Mortgage Group website and click “Apply Now” to get going.
You don’t need to speak to anyone or wait for someone to call you back. Of course, it might be helpful to discuss your loan scenario and get loan pricing before you dive in.
Either way, you can go it alone once you’re ready, or ask a loan officer for assistance. Their digital app allows you to do most tasks paperlessly, which is a huge plus.
That includes linking financial accounts, eSigning disclosures, and uploading key documents along the way.
You’ll also be able to log on to a borrower portal 24/7 to get status updates and check loan progress.
Loan Programs Offered by Allied Mortgage Group
- Home purchase loans
- Refinance loans
- Home renovation loans
- Conventional loans
- Jumbo loans
- FHA loans
- VA loans
- USDA loans
- Bank statement loans and adverse credit loans
- Interest only loans
- Specialty loans for doctors and recent graduates
- Fixed-rate loans (30-year fixed, 15-year fixed)
- Adjustable-rate loans (5/1 ARM, 7/1 ARM)
- Home equity lines (HELOCs)
One of Allied Mortgage Group’s strengths is its impressive breadth of loan offerings.
Sure, they offer home purchase loans, refinance loans, and renovation loans, along with all the usual suspects like FHA, USDA, and VA loans.
But they go a step further with their “Latitude Loan Solutions” suite, which includes a bank statement program, interest only loans, the financing of non-warrantable condos, and adverse credit mortgages.
So even if you lost your home due to an unexpected job loss, it might be possible to get another mortgage as long as your credit score is 620 or higher.
They’ve also got their Professional Choice line of home loans, which are flexible mortgages reserved for borrowers in professional fields (e.g. doctors, dentists) with high future earnings potential and good credit.
Lastly, they offer home equity lines of credit (HELOCs), which can be a rarity these days outside of the large commercial banks.
All in all, you shouldn’t walk away from Allied Mortgage Group because they didn’t have a certain loan program.
Allied Mortgage Group Mortgage Rates
If you want to check out their mortgage rates, you’ll need to make a phone call and speak to one of their loan officers.
Unfortunately, they do not publicize their daily rates on their website. However, you can request a free mortgage rate by clicking on “Rate Quotes” from the top menu on their site.
Once you fill out a lead form, a licensed loan officer will get back to you regarding pricing.
Alternatively, you can check out the branch directory on their website and contact a specific loan officer near you.
From there, simply get on the phone to discuss pricing. As you would with any other mortgage lender, use their quoted rate(s) and fees and compare them with other lenders to see where they stand.
While pricing isn’t everything, especially if it’s a home purchase and you need someone who can get the job done, it is a very important consideration.
Be sure to include any lender fees they charge, such as an application fee or loan origination fee, in your comparison shopping to accurately gauge offers.
Allied Mortgage Group Reviews
On SocialSurvey, Allied Mortgage Group has a near-perfect 4.87-star rating from more than 14,000 customer reviews.
In the past, they’ve also made it into SocialSurvey’s top-10 list for customer satisfaction amongst all lenders.
On Zillow, the company also has a most-excellent 4.96-star rating out of 5 from nearly 800 reviews.
I noticed quite a few reviews where the customer indicated that both the interest rate and fees/closing costs were lower than expected, which is a great sign on the pricing front.
Over at LendingTree, they’ve got a 4.9-star rating from more than 6,000 reviews, along with a 99% recommended rate. Their interest rates are also rated as “excellent.”
They have been an accredited business with the Better Business Bureau since 2012, and currently have a perfect ‘A+’ rating.
Allied Mortgage Group Pros and Cons
The Good Stuff
- Can apply for a mortgage without a human
- Offer a digital, paperless mortgage application
- Tons of loan programs to choose from
- Physical branches in many East Coast states
- Excellent customer reviews from past customers
- A+ BBB rating, accredited company since 2012
- They also service the loans they fund
- Free mortgage calculators on their website
The Maybe Not
- Do not publicize their mortgage rates or lender fees
- Not licensed in all states
(photo: Gene Tobia)