Brookline Municipal CU in partnership with Allanach Mortgage Group (AMG) is proud to offer our members Federally Secure Mortgage Programs – FHA, VA, Rural Housing and Reverse Mortgages. All AMG loans will be sold wholesale with seller servicing release.

Several Options for members looking to purchase or refinance and receive cash out; 96.5% and 100% financing available.

FHA/FHA 203K – 3.5% Down

Purchases or Refinances with lower Fico scores and higher LTV’s. Solid fixed rate loans. Also loan rehabilitation on new or current homes.

VA Mortgages – 0% Down

30 Year Fixed Rates 100% Financing No PMI Available on a purchases and 90% ltv cash out.

H.A.R.P. 2.0 Mortgages

Home Affordable Refinance Program (HARP) started in April 2009. It goes by several names. The government calls it Making Home Affordable Plan, the Obama Refi Plan, the DU Refi+ and the Relief Refinance.

How do I know if I’m eligible for HARP 2.0?

If you answer “yes” to all of the following questions, you may be eligible!

  • Is your mortgage loan currently owned by either Fannie Mae or Freddie Mac?
  • Was your loan sold to Fannie Mae or Freddie Mac prior to June 1, 2009?
  • Is your current loan-to-value greater than 80%?
  • Is your mortgage up-to-date with all payments made on time in the past 6 months, and no more than one late payment in the past 12 months?
  • If you are HARP-eligible, you must close on your mortgage prior to January 1, 2014.

Reverse Mortgages

A valuable financial tool for seniors, 62 and older. This mortgage option gives them the opportunity to increase their monthly cash flow so they may live their life to the fullest.

Rural Housing

100% financing on purchases in small suburban/rural areas. No PMI.

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