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New Home Mortgage Loan Lenders that Put You First

One of the biggest investments you will undertake in your life is buying a home.  Therefore it is important to be comfortable with the lender you choose.  The lender will be your partner in your home buying experience.  If you are new to the process they will guide you through it.

All lenders will tell you they are the best.  You need to figure out which one is the best match for you.  We believe 1st Alliance Lending is the best and want to give you the reasons why so you can decide for yourself.

What We Do

We don’t see ourselves as simply a collector of payments.  Instead we view ourselves as a partner in home ownership.  This partnership starts BEFORE you finance with us.  We will assign a Loan Officer to your case and that person will get to know you and get to know your specific case.  They will give you their phone number and email so you can contact them anytime with questions.  We want to be able to communicate with you in the way that works best for you so we offer you the option of calling us, emailing us, chatting live online or having us call you.  We commit to giving you the personal attention you need and deserve.
We don’t base our evaluation of you solely on your credit score.  If you have had a previous foreclosure or FHA short sale we will take into account the specific circumstances of your situation.  If you have had an issue with your credit in the past, we want to know the whole story.  From this we can determine which type of loan you will be successful with in the future.  Our ultimate goal is to provide you a loan you can sustain.
Our partnership doesn’t end at the start of your mortgage.  We continue to provide excellent service every day throughout your mortgage.

How We Do It

    First a little history to give you perspective of where we come from:

  • 1st Alliance Lending was incorporated in 2004 and started our first residential mortgage partnership in May of 2005.  As you know the housing crisis soon followed.  We immediately saw the need to help struggling homeowners.
  • In 2008 1st Alliance Lending worked with the government to improve the Hope for Homeowners program so it would help a greater number of homeowners.

  • In 2010 our status as one of the pioneers of principal reduction loans was recognized when we became an approved Ginnie Mae issuer.
  • In March of 2011 we were featured in the New York Times recognizing that our loss mitigation products were helping struggling homeowners.
  • In 2012 our Founder, John Dilorio, testified before a Senate Sub Committee because he is recognized as a leader and expert in the field of principal reduction refinance.  
    Over the years we’ve helped thousands of homeowners avoid foreclosure and through this we have seen what works well and what doesn’t work as well.  We have learned that you need to really listen to people to find out the whole story.  The computer generated credit number doesn’t give the whole story.  We’ve learned you need to partner with the buyer and find out what will work best for them individually.

We also believe in community.  Our business decisions are guided by three major factors:  fiscal responsibility, social consciousness and environmental responsibility.  We give back to the community.  Specifically we support Make a Wish, The Hole in the Wall Gang Camp and Pan Mass Challenge.

Finally, we feel our employees should be treated well, as they are a major asset to our company.  We strive to provide work/life balance, a stimulating work environment and world-class benefits.  We feel that if we treat our employees well they will treat our buyers well.  That is a top priority.
What Makes Us Different

We are a trustworthy, honest, non-judgmental lender.  We have integrity.  We are working to rebuild communities and emphasize providing sustainable loans.  If you are looking for a lender for your new home mortgage loan  contact us.  We will put you first.

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“I Had a Foreclosure” – You are Not Alone

Did you have a foreclosure? Did you feel like you were alone? You might be surprised to find out how many people had foreclosures in recent years. During the economic recession many people suffered from events out of their control, such as job loss, reduction in wages, or serious medical issues resulting in overwhelming bills. These financial hardships made it impossible for people to keep up with their mortgage payments. In fact, in 2011 nearly 4,000,000 people experienced a foreclosure. Four million – that’s a lot of people! In comparison, prior to the recession, in 2000, about 500,000 people foreclosed on their home. The recession obviously impacted millions of Americans and resulted in millions of foreclosures. You are not alone!

The U.S. government recognizes that millions of Americans lost their homes during the recession and has developed a program to help them re-achieve home ownership. The program is called FHA Back to Work. This program allows you to re-apply for a mortgage 12 months after your foreclosure by showing you have worked to re-establish your credit.
At 1st Alliance Lending we have experience working with people, like you, who have lost their home due to foreclosure. We are experts with the FHA Back to Work program. We can help you navigate the process. You can trust us to help guide you through the process.

We are working to re-build communities one home at a time. At 1st Alliance Lending we focus on the long term and work to ensure you will not face foreclosure again by providing you a mortgage that you can afford today and for as long as YOU want to be in your home. We treat you as a person and get to know you and your circumstances so we can best help you be successful. Every person is different and every situation is different. We realize that. We also realize that you don’t want to go down the same path again. Losing your home to foreclosure is devastating. We will work with you to achieve a sustainable loan so you don’t face foreclosure in the future.

If you had a foreclosure and are excited about the possibility of owning a home contact us at 1st Alliance Lending. We would be happy to be your partner in obtaining your new home! We will make sure you do not ever feel alone in this process!

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Back to Work Mortgage Lenders Achieving Sustainable Loans

Are you regaining financial stability and considering looking for a new home but concerned about what lender will help you? Are you concerned that you will end up with a loan that you won’t be able to manage long term?  At 1st Alliance Lending we take pride in helping people who have recovered from a financial hardship create a sustainable loan so they can look forward to living in their new home for the long term. Here are the reasons we are the back to work mortgage lenders you should select as your partner for the life of your mortgage.


You will be assigned one loan officer who will get to know you and will help you throughout the entire process. You will be given a direct line and email address so you can contact him or her any time with any questions you have.  At 1st Alliance Lending we are very knowledgeable about the FHA Back to Work program, which will allow you to get into a new home one year after a foreclosure by showing you have recovered from the financial hardship. Not quite ready for a new mortgage yet but starting on the road to recovery? We can help you learn the steps you need to take to get you where you need to be. We can guide you to achieve the dream of owning a new home.

Whole Picture

At 1st Alliance Lending we realize you are more than just a credit score. We will look at the whole picture, not just one number. Did you have difficulty with a previous mortgage? We want to know the details. When were you able to be successful and when weren’t you?  What happened (illness, job loss, etc.)? We want to know what you have done to try to repair your credit. With a view of the whole picture we can determine how to create a sustainable loan for you. We want you to live in your new home long term and will work with you to figure out the best mortgage to achieve that.


You will find a partner in 1st Alliance Lending. We truly work with our borrowers throughout the lifetime of the loan. We will work with you every step of the way. If you aren’t quite ready for a new mortgage today we will wait for you and help guide you to get you ready. We want you to be successful in your quest to obtain a new home.

If you are ready to purchase a new home contact us. We are ready to help you.

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First Time Home Buyer: How We Work for YOU!

#1 – Staying Power

As you begin your journey on the first time homebuyer path, you’ll begin to see how the process can take a long time. Lots of paperwork, financial disclosures, and state policies are just a few of the important steps involved with buying your first home. At 1st Alliance Lending, we put you first—and keep you first! We don’t bring you into the office to discuss options and possibilities only to leave you hanging when the paperwork gets rough or the lending options change. Our lending agents are trained to have the staying power to journey with you the entire way!

#2 – Non-Judgmental Attitude

When buying your first home, lending agents and mortgage companies gain access to many areas of your life, from past bills and places of residence to employment and family circumstances. At 1st Alliance Lending, we understand that everyone is coming from a different place in life that involves his or her unique set of circumstances. Our lending agents have helped all types of people with all types of past and present experiences. We know just how important it is not to judge our clients but rather help them achieve their goals. We want you to feel comfortable with us so that your first time home buying experience is a positive one.

#3 – Quick Responses

You will have many questions for your lending agent when you are buying your first home, and you don’t want to have to wait around for answers. We respond quickly to any and all questions that you have. Remember, with us, we know that there’s no such thing as a stupid question!

#4 – Superior Knowledge

Specializing in helping those recovering from the most difficult circumstances on the market—foreclosures and short sales, we bring superior knowledge to the table no matter what your history. We understand that the best deals aren’t always the easiest deals! Federal and state real estate policies, as well as ever-changing paperwork requirements are very tricky, but we keep our knowledge current with this evolving landscape so you don’t have to!

#5 – Results

The combined work ethic of 1st Alliance Lending with our staying power, non-judgmental attitude, quick responses, and superior knowledge means something very important to you, the first time home buyer: RESULTS. We will help you get into your first home with excellent terms that cater to your specific needs!

For more information about buying your first home, please contact us any time with any questions you may have.

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Understanding the FHA Back to Work Program

During the financial crisis that gripped us during 2008, millions of homeowners had to deal with things they never thought they would have to consider. Some had to file bankruptcy in order to keep their financial house in order, others lost their homes to foreclosure and still others dealt with the financial crisis by selling their homes under a short sale agreement. Unfortunately, under previous regulations, most of these homeowners were doomed to be ineligible for a loan for periods of up to ten years. However, in 2013, the FHA offered some relief to these homeowners by offering the FHA Back to Work program.

What is the FHA Back to Work Program?

The Federal Housing Administration (FHA) realized that millions of homeowners were facing adversity due to the financial crisis. They understood that many homeowners who lost their homes had previously had good credit ratings, paid their mortgages on time and fell victim to circumstances beyond their control. Hence, they started a program for those who were facing adversity that would allow them to qualify for a mortgage in one year rather than waiting ten years.

How does the FHA define adversity?

Under the terms of this program, the FHA requires the borrower demonstrate they lost at least 20 percent of their income for a period of six months or more. The 20 percent may seem like a general number but those who were collecting unemployment were typically receiving 80 percent of their “pre-layoff” salary.

What about the negative entry on my credit?

Clearly your credit report will reflect whether or not you have had a bankruptcy, foreclosure or gave a deed in lieu of foreclosure. However, the FHA is far more interested in what your credit was before and after this financial crisis. If you had a good payment history before this problem and you have taken steps to work on your credit since you had a foreclosure, you can still qualify for a new mortgage loan.

What paperwork do I need?

In order to qualify for a Back to Work loan, you will have to provide much of the same documentation as you would for any other mortgage loan. Additionally, you will have to show you have been saving money and paying all of your bills on time.

For some borrowers who lost their home, getting started as quickly as possible after a foreclosure or short sale means they can get back into a home faster than ever. Whether you have just lost your home or you have taken the necessary steps to get back on the right track, contact 1st Alliance Lending. We can help you with each stage of securing a loan for your new home. Whether you need help with your credit repair process, rebuilding your credit or you are ready to sign up for the required homeowner’s counseling, we are here and ready to help.

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What You Need to Know About Buying a First Home?

Going from being a renter to being a homeowner is a big step and one that people work hard towards. In addition to saving money for your down payment, there are other items that are critical when buying a first home including:

1. Your credit report – if you are considering buying a home, it is a good idea to obtain your credit report and review it for potential errors and problem areas. Keep in mind, the better your credit score, the better terms you may get on your mortgage.

2. Documents matter – your lender will want copies of your recent tax returns (usually three years) as well as bank statements, copies of your pay stubs and information regarding all insurance policies. In addition, they will want to know about all of your debts including student loans and car loans. Keep in mind, the more information you have upfront the less time it will likely take to process your loan.

3. Pre-qualification/pre-approval – oftentimes, these terms are used interchangeably but they are completely different. Pre-qualifications are based entirely on information you provide to a lender and are not binding. Pre-approvals are typically provided after a lender has pulled your credit report and verified your income and debts. Pre-approvals can give you negotiating power with home sellers since they typically mean your loan will be approved faster.

A word of warning about pre-approvals

Too often, borrowers think if they have pre-approval in hand their worries are over. However, it is important to note that lenders will review all items before they sign off on the final loan. This means if you have a pre-approval in hand you should avoid the following:

1. Opening new lines of credit – any new lines of credit can change your debt to income ratios and result in you no longer being eligible for a new mortgage.

2. Changing jobs – before you make a decision to change jobs after receiving a pre-approval, talk to your lender. This may count against you in the final approval process.

3. Homes matter – all pre-approvals are contingent upon the home you are purchasing passing an inspection as well as coming in with a fair appraisal.

Other financial matters

When you start saving towards purchasing a new home, you may have a target amount in mind. However, there are many loan programs available and some have down payment requirements as low as 3.5 percent while others may require you to put as much as 20 percent down. Additionally, there are closing costs, title insurance and private mortgage insurance to consider.

If you are considering buying a home for the first time, at 1st Alliance Lending we know you have a lot of questions and the entire process may seem overwhelming. While you don’t have to have perfect credit or a million dollars in the bank, the better prepared you are the smoother the process will be. Contact 1st Alliance Lending today and let us help you reach your goal of buying your first home. We’ll guide you through the entire process from application to closing and help you with any questions you may have.

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Securing a Mortgage with a Prior Foreclosure

Recently, FHA has eased lending rules for those who have experienced bankruptcy or a prior foreclosure. Though the economic downturn has caused extreme financial hardship over the past few years, this olive branch from the FHA could help potential borrowers finally get back into a home of their own.

In order to qualify for an FHA mortgage after a previous foreclosure, the borrower must prove the foreclosure was due to income loss during the recent recession. A borrower must show that their income was reduced by 20% for six months or more due to economic factors beyond their control. For example, loss due to layoffs from employers struggling to survive during this time could qualify the potential borrower according to the new FHA standards. If a borrower was fired for a cause or quit their job, they most likely would not be eligible for the FHA prior foreclosure leniency.

The first step in the process is visiting a lender to determine whether you qualify under the new FHA regulations regarding prior foreclosure. Once your qualification is established, you must begin repairing your credit. The FHA asks all applicants who qualify for this program to spend the next year making timely rent and credit card payments. Potential borrowers must also enroll in housing counseling with an agency that is certified by the Department of Housing and Urban Development.

As the economy steadily improves, FHA mortgage loan rates and regulations will change to reflect the economic upswing. If you would like to purchase a home, now is the time to begin improving your credit and speaking with a lender who is familiar with how to handle securing an FHA loan with prior foreclosure or bankruptcy.

It is important to remember that you are not alone in your quest to once again buy a home of your own. The professionals with 1st Alliance Lending have all the tools necessary to provide you with the second chance you and your family deserve. We invite you to contact one of our lending experts today to find out if you qualify for this or any other special mortgage programs currently available.

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What You Need to Qualify with Back to Work Lenders

Sometimes, we all need a second chance, especially if we have been crushed by a financial crisis. Let’s face it, while many people lost their jobs during the latest recession, thousands more have returned to work and are working on rebuilding their financial lives. However, before you can approach Back to Work Mortgage Lenders there are very specific things you must do in order to qualify for a new loan. Some of these include:

  • Credit repair steps – There is no easy way to repair your credit. It requires persistence and a commitment to ensuring you are contacting creditors and working closely with them.
  • Managing current debt - In order to successfully obtain a new mortgage, you will have to demonstrate you have a solid payment plan in place for managing your current debt. This means all payments must be made on time and as agreed. In some cases, changing your payment plans to bi-monthly can help you pay off your “old” debt faster.
  • Demonstrating financial capability - Before you can obtain a new mortgage, you will need to show that you are saving money as well as paying your current obligations. Keep in mind, you will need to put a 3.5 percent down payment on a new home and you will want to save some money in reserve for emergencies.

If we are being honest, none of us ever anticipates a financial crisis that results in losing our homes. Additionally, the road to recovery is often a long and complicated one and full of twists and turns. If you have recently lost your home to foreclosure or given up your home in a short sale, it may be time to consider contacting 1st Alliance Lending. We understand the road to recovery is not an easy one and we are here to help.
Regardless of whether you lost your home a week ago, a month ago or a year ago, we can help you get back on track and help you qualify for the programs that Back to Work lenders are offering. We’ll work closely with you every step of the way until you realize your final goal of being back in the home of your dreams. Contact 1st Alliance Lending today and let us help.


Obtaining a New Home Buyers Mortgage That’s Right for You

Are you ready to purchase your first home?  Congratulations!  It is a big step.  You have a lot to consider.  Where do you want to live?  How big of a house?  How much land?  Don’t forget to also consider who you want to help you along this path.  At 1st Alliance Lending we specialize in helping buyers purchase their first home.  


We strive to create sustainable loans that buyers can afford today and long into the future.  Do you want a fixed rate or adjustable rate mortgage?  We will work with you to find out which will work best for your personal situation.  We want to help you make your first home be a place you can live for as many years as you desire.


Buying your first home can be confusing and first time homeowners often have a lot of questions.  We will be with you every step of the process.  Any questions you have will be answered in a timely manner.  We don’t want to leave you wondering so we respond.  You will work with one loan officer throughout the process, someone you will get to know and trust.  We will work closely with you to ensure you are comfortable with the purchasing process.

Credit Concerns

Are you concerned you won’t be able to obtain a mortgage for your first, dream home?  Maybe you were late on a few bills and your credit score isn’t what you would like.  Rest assured.  We evaluate the whole picture not just a three digit credit score.  You are more than just a number and we will treat you as such.  If you aren’t quite ready for a mortgage we will help you learn what you need to do to be ready.

At 1st Alliance Lending we are experts at helping borrowers obtain their first mortgage.Contact us to find out about our First Time Buyers Program.

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I Had a Foreclosure, Now What Do I Do?

Every person who begins their house hunt with, ”I had a foreclosure” must consider what caused the foreclosure and how many home lending programs work to ensure that the home shopper can get a mortgage in spite of difficult circumstances.

Some people have gone through a foreclosure because they lost their job or their salary was cut.  Other people were injured and were unable to work.  Still others were trying to manage a loved one’s estate and had to move in order to keep their family solvent.

Therefore, these three things must be discussed if you had a foreclosure and are looking for a new loan:

1. Why Did You Foreclose?

There are a thousand reasons, but there are lending institutions that want to hear an explanation.  For many lenders, there is a big difference between “I didn’t make any payments” and “I was hurt and lost my job then everything spiraled out of control.”

2. Are You Working Now?

If something happened to affect your employment or earnings that does not mean that you don’t have a job now.  If you are gainfully employed, your current salary tells a lender a great deal about your ability to make payments.

3.  How Is Your Credit Aside From Catastrophic Events?

It’s pretty easy for a lender to look at your credit through a lens that takes into account your credit history before and after catastrophic job loss or injury.
When you’ve had a foreclosure, contact us to find out if your new circumstances can get you into a new home loan even if you’ve been foreclosed on in the past.  You never know until you ask.