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Types of Mortgages

Fixed Rate Loans

These are the loans with which people are most familiar. They let you count on paying the same monthly amount over the life of the loan. We can find you the lowest possible fixed interest rate, and can also explain the advantages of our loan terms – 10, 15, 20, 25 and 40 years. 

USDA (Rural) Home Loans - NO MONEY DOWN!
These loans offer 100% financing to home buyers looking to buy in a rural area. We work with a USDA “Direct Lender,” that has had the privilege of helping serve eligible home buyers with in-house processing, underwriting and closing on all their mortgage needs.

We work directly with a preferred lender for many of the State/CDA Bond money programs. We have grants and settlement loan expense programs that can be combined to create virtually no-cost loans for first time homebuyers with little or no housing payment history. 

FHA Loans
These loan programs are insured by the Federal Housing Administration (FHA) and issued by qualified lenders.  We offer all of the current FHA loan programs, including home financing for purchase and refinance of owner-occupied homes, as well as the popular 203(k) rehabilitation loan. 

203(k) Loans
 This Program permits homebuyers to finance an additional $35,000 into their mortgage to improve or upgrade their home before move-in. With this product, homebuyers can quickly and easily tap into cash to pay for property repairs or improvements, such as those identified by a home inspector or FHA appraiser. We work with a mortgage company that has a 203k group that will work directly with you and share all of their product knowledge with this unique mortgage product.  

VA (Veterans Affairs) Loans
These loans offer 100% financing without private mortgage insurance to American veterans or to their surviving spouses. As a VA “Automatic Lender,” our lender has the privilege of helping serve eligible veterans with in-house processing, underwriting and closing of all VA loans as a first or second mortgage, or as a refinance package.  

Adjustable Rate Mortgages (ARMs)
ARM loans provide an initial fixed-rate period followed by an interest rate that will adjust periodically. They allow you to lock in a good rate, but are flexible in case rates go down, giving you the advantages of refinancing without the costs or paperwork. Your Loan Officer can discuss ARM loans with you, including many short-term variable rate mortgages that adjust periodically based on current market conditions. ARM programs currently offered include 1-, 3-, 5-, 7- and 10-year initial fixed-rate periods. 

Interest Only Loans
Many of our fixed rate and ARM programs allow for the payment of interest only for a specific time period, while still giving you the option of paying down the loan at any time without penalty. You should meet with our loan officer to discuss your specific details.

Vacation Home Loans
Financing that perfect getaway? Whether it’s your second home or an investment rental, we have a number of loans to choose from, to make your vacation home possible.

Investment Property Loans
This area requires special expertise from your mortgage company. Find out about all the options you have available for this important business investment.


agent photo
Bernie Alvey
Senior Listing Agent
EXIT Landmark Realty

Direct: 301-752-7922
Office: (301)934-2022 x272

Email: bernie@alveyproperties.com

Bernie Alvey reviews
Bernie Alvey reviews

Testimonials Page

After listing my house I received a full price contract in 2 weeks - very happy! Bernie recommended a contractor for minor repairs found during the home inspection and repairs were made in a timely manner and to satisfaction of buyers. I couldn't be happier with the entire process. Settlement held in 45 days from list date and all parties were pleased and on their way. Great job! Coach Jim Donahue
Bernie is the best agent I have ever worked with. His knowledge and negotiation skills are impeccable. He was always alert, responsive and attentive for my needs. I have used him as a buyer and seller agent, he was great at both aspects. He even help me gain a a full price offer on my home, which was a profit from a home I owned for only 14 months. ***Highly Recommended*** Michael Paige
Bernie is that agent that you hear about but never seem to really find, EXCEPT I DID! He is current with technology and that is so important to finding a home, I used his website and was able to zero in on the 4 or 5 properties I wanted to see and he made the rest happen. He is also great at presenting the pros and cons of any property to help you keep your own excitement from carrying you away. His knowledge of the area was fantastic, and overall made our home buy experience, fast and even fun. Chet Rhodes
Bernie did a superb job of helping us find the right house in Dunkirk. After showing us a few properties, he knew what we were looking for and focused on that. We depended heavily on his experience and familiarity with local practices to guide us through the process. We were impressed with his knowledge of the local market. Once we found the house we wanted, he gave us good advice on negotiating a fair offer. Jack and Fran Shea
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