Loan Products

Fixed Rate Mortgage

Adjustable Rate Mortgage (ARM)

Jumbo Mortgages

FHA

Construction

125% Loan product

Commerical

Refinance Program 

Purchase Program

Gold Card Program

100% Financing

Fixed Rate Mortgage

With a fixed rate mortgage, you know exactly what your principal and interest payment will be each month for the life of your loan. It won’t change because your interest rate doesn’t change. Your taxes and insurance component of your payment towards escrow can change (and probably will) if your taxes and insurance change. Unfortunately, there’s no way to lock those in.  If interest rates go up, you’re protected with a fixed rate mortgage.  But, you won’t benefit if rates go down. You can always take advantage of falling rates by refinancing.

Fixed rate mortgages might be right for you if:

• Want the security of a fixed principal and interest payment.
• Think that interest rates will go up.
• Are on a fixed or limited budget.

Adjustable Rate Mortgage (ARM)

Compared to Fixed Rate Mortgages, Adjustable Rate Mortgages (ARMs) offer a lower interest rate to start, so monthly payments are generally lower. But, the interest rate moves up and down with the market based on an "index". Some of the more common indices include U. S. Treasury Bills, Cost of Funds Index (COFI) and the London Interbank Offered Rate (LIBOR).  Most ARMs have an initial fixed rate period where the interest rate doesn’t change, followed by the rest of the loan’s lifetime period where the rate is adjusted at predetermined intervals. Many ARMs have caps that limit how much the interest rate can change per period, as well as for the life of the loan.

Clients should be aware that there are some very low rate ARMs that start out with "discounted" rates. These discounted rates are below the market rate and will definitely go up at the first adjustment period.

Adjustable rate mortgages might be right for you if:

· You want more property than you can qualify for now with a fixed rate.

· You are confident your income will increase or rates will not go up much.

· You plan on selling or refinancing within seven years of buying your home.

Jumbo Mortgages

Jumbo Mortgages, or nonconforming loans, exceed the loan limits set by the two publicly chartered corporations (Fannie Mae and Freddie Mac) that buy mortgage loans from lenders. The 2005 single family loan limit is $359,650. If you need to borrow more than that amount, you need a jumbo mortgage. These jumbo mortgages typically have a higher interest rate than conforming mortgages.

FHA

The Federal Housing Administration (FHA) provides a loan guarantee program, instead of the standard private mortgage insurance (PMI); so qualified borrowers can get a mortgage loan with a down payment as low as 3%. The FHA doesn’t make the loan; rather it guarantee the loan minimizing the lender’s financial risk. FHA loans usually offer fairly liberal qualifying criteria compared to Fannie Mae and Freddie Mac and involve small down payments. They offer both fixed and adjustable loans.

Construction

Construction loans are used to finance the building of a new home, rather than purchase an existing home. These loans are usually variable-rate loans that have interest only payments during the construction phase. Draws are scheduled based on the stages of construction to pay the builders.

 Many construction loans are construction-to-permanent, which means that when construction is complete, the loan is converted to a normal mortgage. This has the advantage of a single loan with one closing

Commerical Mortgage

American Legacy Mortgage offers a full line of commercial mortgage products to middle market investors and developers across Georgia.  With a full suite of products and services, American Legacy Mortgage can serve virtually any commercial real estate need.

ALM offers 30-year amortizations, 100% financing, and so much more.

ALM has made it our mission to de-complicate the commercial lending process, and all clients will be assigned a trained mortgage professional upon first contact.  Our motto is:  Good with numbers, better with people

1.  We ask you what you want 2.  We give you what you want

Two Easy steps to get in touch with us today

1.  1-888-605-4175, ext 0 - Call today to speak one on one with a qualified loan officer

2.  CONTACT US to schedule a FREE consulation of your needs

 Refinance Program

Do you have an adjustable rate mortgage (ARM) and worry about how you are going to make your monthly mortgage payment once the loan enters the adjustable phase?  Did you finace your home with an interest-only loan?  Does an unplanned life change, such as divorce or change in employment, have you struggling to pay your mortgage each month?

We can help.

We have fixed programs that are a great alternative for borrowers who feel their current loan does not fit their finacial circumstances.

Easy contact options:

1.  Call us (24/7) 1-888-605-4175, ext 0

2.  Contact us - Email us to schedule a consulation

How would you like to save $200 to $400 per month?

We are ready to help and easy to contact.

1.  Call us (24/7) 1-888-605-4175, ext 0

2.  Contact us - Email us to schedule a consulation

3.  Apply online - easy, secure, and fast approval

Did you know that our average customer saves between $200 - $400 per month with a consolidation loan from American Legacy Mortgage?  Our loan officers have been specially trained to help customers with the consolidation of bills.  

Did you know that the average credit card interest rate is 18.9%, which means the average consumer is spending 1000's of dollars in interest per year on a credit card.

At American Legacy Mortgage we understand that you had rather be putting your money toward something else each month.  e.g, vacation, home repair, child care expenses, etc.  Let us help.

One of our loan officers will work one-on-one with you to come up with a plan that is right for you, and the best part is we don't even pull your credit.

Did you know that pulling your credit score can deduct points off your credit score?  At American Legacy Mortgage, we will only pull your credit after you accept our offer. 

We can help you in 3 easy steps

1.  We will take your information, working one-on-one with you

2.  We will present you with a personalized mortgage review

3.  We will approve you for the loan

Call today and allow one of our loan officers to present you with a no-obligation plan that can show you exactly how much you can save.

We have many programs available to you:  125% program, interest only, etc.  I know that we have a program that will fill all of your needs.

 Purchase Program

One of the most complicated parts of purchasing a home is ever changing mortgage world.  We have de-complicated this process by assigning each customer his/her very own mortgage expert that will be with him/her during the home buying process. 

We have 100% financing available with no money down.  Over the past few years 100% financing has become a popular choice that allows more freedom for the buyer.

American Legacy Mortgage takes the purchase program to new levels and has a NO CLOSING COST option. 

 Gold Card Program (purchase program Only)

At American Legacy Mortgage, we want you to know that you are "As good as GOLD."  After you have gone through our quick approval process, we will give you a personlized gold card for you to show your real estate agent, future builder, etc. to indicate that you have taken appropriate steps to secure a loan and that and you are approved for your loan.

 100% Financing

At American Legacy Mortgage we offer you the ability to finance the complete purchase price of the home with 100% financing options.