About Arlington Financial
Established in 1992, Arlington Financial has built a strong reputation as an outstanding diversified mortgage company serving the lending needs of real estate professionals, builders, law firms and individual home buyers.
We’re a full service mortgage brokerage company with an experienced staff offering expertise in every area of mortgage brokering… from purchases to refinances. We have access to a full range of mortgage sources and all of our lending specialists are dedicated to finding the right loan – with the best rates, terms and costs – to meet our clients’ unique needs. But that’s just the beginning of our service, throughout the lending process we provide regular loan updates and progress reports so clients always know the status of their loan.
Arlington Financial provides an upfront fee sheet showing your Downpayment, Loan Amount, Interest Rate, Title, Appraisal, Credit, NYS Mortgage Tax, Attorney Fee etc which will give you an idea of what your out of pocket costs and monthly payment are going to be in relation to your purchase or refinance. We are advocates of complete transparency in educating you with reference to your Mortgage process.
We are currently licensed in the following states
As a Mortgage Broker we can check your credit, employment, assets, down payment, property appraisal etc. From that point we can then determine which bank to send your file to, and guess who does the processing for the bank? We do.
Low Credit & No Credit Score Programs
Low Down Payment & Closing Costs
A reverse mortgage loan, like a traditional mortgage, allows homeowners to borrow money using their home as security for the loan. Also like a traditional mortgage, when you take out a reverse mortgage loan, the title to your home remains in your name. However, unlike a traditional mortgage, with a reverse mortgage loan, borrowers don’t make monthly mortgage payments. The loan is repaid when the borrower no longer lives in the home. Interest and fees are added to the loan balance each month and the balance grows. With a reverse mortgage loan, homeowners are required to pay property taxes and homeowners insurance, use the property as their principal residence, and keep their house in good condition.
With a reverse mortgage loan, the amount the homeowner owes to the lender goes up–not down–over time. This is because interest and fees are added to the loan balance each month. As your loan balance increases, your home equity decreases.
A reverse mortgage loan is not free money. It is a loan where borrowed money + interest + fees each month = rising loan balance. The homeowners or their heirs will eventually have to pay back the loan, usually by selling the home.
How do I know how much house I can afford?
Generally speaking, you can purchase a home with a value of two or three times your annual household income. However, the amount that you can borrow will also depend upon your employment history, credit history, current savings and debts, and the amount of down payment you are willing to make. You may also be able to take advantage of special loan programs for first time buyers to purchase a home with a higher value. Give us a call, and we can help you determine exactly how much you can afford.
What is the difference between a fixed-rate loan and an adjustable-rate loan?
With a fixed-rate mortgage, the interest rate stays the same during the life of the loan. With an adjustable-rate mortgage (ARM), the interest changes periodically, typically in relation to an index. While the monthly payments that you make with a fixed-rate mortgage are relatively stable, payments on an ARM loan will likely change. There are advantages and disadvantages to each type of mortgage, and the best way to select a loan product is by talking to us.
How is an index and margin used in an ARM?
An index is an economic indicator that lenders use to set the interest rate for an ARM. Generally the interest rate that you pay is a combination of the index rate and a pre-specified margin. Three commonly used indices are the One-Year Treasury Bill, the Cost of Funds of the 11th District Federal Home Loan Bank (COFI), and the London InterBank Offering Rate (LIBOR).
How do I know which type of mortgage is best for me?
There is no simple formula to determine the type of mortgage that is best for you. This choice depends on a number of factors, including your current financial picture and how long you intend to keep your house. Arlington Financial Corporation can help you evaluate your choices and help you make the most appropriate decision.
What does my mortgage payment include?
For most homeowners, the monthly mortgage payments include three separate parts:
- Principal: payment on the amount borrowed.
- Interest: payment to the lender for the amount borrowed.
- Taxes & Insurance: monthly payments are normally made into a special escrow account for items like hazard insurance and property taxes. This feature is sometimes optional, in which case the fees will be paid by you directly to the County Tax Assessor and property insurance company.
What is a conventional vs. a non-conventional mortgage?
When you look into the types of mortgage loans available on the market, you have either loans that are insured (or, backed) by the federal government, or those offered by private mortgage lenders such as banks, credit unions or other lending institutions.
Loan options that are backed by the government include FHA loans and VA loans, guaranteed by either the Federal Housing Authority or the US Department of Veterans Affairs.
Is this website secure?
Our website is very secure. We ensures that all data transferred on this website remains private.
Our website is very secure. We use 256 bit SSL encryption and HTTP/2 to secure all traffic to and from the web server. This is higher than the recommended industry standard for ensuring a high level of security when transmitting sensitive information over the internet.
The website receives its SSL certificate from Cloudflare and Let’s Encrypt, the industry leaders in providing SSL certificates. The green lock icon and the “https:\\” address are other indications that this site is secure.