Conventional

First-time Homebuyer

FIXED & ARM LOAN

Fixed Rate Mortgage

ABMG offers a variety of fixed rate programs, including traditional conforming loans, FHA loans, VA loans and jumbo programs. A traditional fixed rate mortgage provides you with the security of a steady payment for the life of the loan and is a great option for many home buyers. While most homeowners looking for a fixed rate choose a 30 year fixed mortgage, we also offer shorter terms that can be a great option for borrowers that can afford a higher monthly payment and wish to pay off their loan in 20, 15 or even 10 years.

Adjustable Rate Mortgage

An adjustable-rate mortgage (ARM) usually offers a low initial rate that can increase after a pre-set period. ABMG offers ARM loans with the initial fixed periods of three, five, seven and ten years. These programs are attractive for borrowers that are looking to stay in their home for less than the fixed period or for experienced homeowners that understand the risks and benefits of an adjustable rate mortgage.

Government Loan

FEDERAL HOUSING ADMINISTRATION (FHA) LOANS

FHA loans are an attractive option, especially for first-time homeowners because they are insured by the Federal Housing Administration. Additionally, FHA loans may offer lower interest rates and are more flexible with credit scores. Typically, the borrower can be approved with 3% down vs 10%, 15% or 20% that is required on other loan programs. Additionally, FHA loans have lower interest rates and are more flexible with credit scores.

VETERANS ADMINISTRATION (VA) LOANS

ABMG is an approved VA lender with the expertise and programs to help veterans finance their home. A VA Loan is designed to offer long-term financing to Veterans in all branches of the Military. It is generally easier to qualify for a VA loan than conventional loans and requires no down payment. Other benefits include lower interest rates, a wider range of acceptable credit scores, and no mortgage insurance premiums.

USDA LOANS

Backed by the US Department of Agriculture, these loans offer those living in smaller and rural communities the opportunity to own a home at affordable rates. In fact, USDA mortgage loans offer you even more options if you’re interested in something other than a conventional loan, FHA loan, or a VA loan.

Jumbo Loan

JUMBO LOAN

Jumbo Loans exceed the maximum loan amounts established by Fannie Mae and Freddie Mac conventional loan limits. Rates on jumbo loans are typically higher than conforming loans. Jumbo Loans are used for the purchase of higher priced homes and high-end construction homes. ABMG offers a variety of competitive jumbo loan programs.

HOME READY & HOME POSSIBLE

We offer Freddie Mac’s Home Possible® Mortgages and Fannie Mae’s HomeReady® Mortgages that allow low down payment and flexible credit terms. Now it is easier than ever to buy the home of your dreams.

• Buy with as little as 3% down

• First time or repeat buyer (cannot own other real estate at the time of closing)

• Stable monthly payments with fixed-rate mortgages

• Reduced mortgage insurance coverage levels

State grant program

In an effort to stimulate the home buying for first time buyers – We offer several state grant programs to assist with your down payment and or closing cost

Bridge & Construction

A BRIDGE LOAN COVERS THE GAP BETWEEN WHEN YOU CLOSE ON A NEW HOME AND WHEN YOU SELL YOUR OLD HOME.

A bridge loan covers the gap between when you close on a new home and when you sell your old home. Typically, it is a short-term loan, with a duration of around one year. Our team assists you in securing a bridge loan to pay off your first house while putting the remaining funds, minus closing costs and six months of interest, toward the down payment on a new house. This type of loan lets you make a competitive offer on a property, even if your first house has yet to sell.

CONSTRUCTION LOAN & RENOVATION (203K) LOANS

No construction or renovation project is exactly alike. ABMG provides lending solutions that meet your project’s specifications, from refurbishing your existing property, to purchasing and restoring your future dream home.

A renovation loan is a resourceful way to upgrade an existing property to accommodate new homeowners’ wants and needs. Anyone with the appropriate credit can take advantage of the loan to modernize an outdated home and make it their own. It transforms the not-so-perfect home you just purchased into your family’s future for the next 30 years.

Maybe you want a suite attached to your home so your mother-in-law has a space all her own. Or maybe you want to install or update the heating and cooling systems so you have the latest models on the market. In either case, a renovation loan would be the answer to your problems. Making accessibility improvements, redesigning the kitchen or bathroom layouts, or, if you obtain the correct medical waivers, installing a hot tub can each be a part of the overhauling completed by a renovation loan.

Repairs you want to see happen are included, too. Fixing your home’s piping to prevent increasing radon levels is an option. No matter the property, a renovation loan spins your recent purchase into your dream home with all the fixings.