BERLIN - Theyâ€™re a national company but with local experience.
The Berlin branch of New England Alliance Mortgage, located at 979 Farmington Ave., Suite 1F, is run by Area Manager and Senior Loan Officer Peter Kern, and is backed by the Bank of England, an FDIC insured bank that has been in business since 1898.
â€śWe offer all the traditional mortgages,â€ť said Kern, who began his career working for the big banks in New Jersey and opened the mortgage bankâ€™s Berlin location eight years ago.
Those mortgages being the traditional 30-year fixed rate mortgage, with a constant interest rate and monthly payments that never change; 15-year fixed rate mortgage with lower interest rates than a 30-year loan but larger monthly payments; and hybrid adjustable-rate mortgage at the 3/1, 5/1 or 7/1 levels, which feature lower interest rates and have fixed monthly payments for the initial 3, 5 or 7 years of the loan and then turns into an adjustable-rate loan.
The firm also offers a 2/1 Buy Down Mortgage that allows the borrower to qualify at below market rates so they can borrow more, and increases the initial interest rate by one percent at the end of the first year and another one percent at the end of the second year before remaining at a fixed interest rate for the remainder of the loan term.
In addition to the traditional mortgages, Kern said, his business specializes in Federal Housing Authority and VA renovation loans.
Along with those specialties, Kern said, what sets his mortgage bank apart is because it focuses solely on mortgages, and is able to act more aggressively in attaining the best mortgage loan possible for borrowers.
The business offers regular loan updates and progress reports, full and short applications, free consultations, loan status checking and more online at neamberlin.com, to keep clients up to speed on all their mortgage information.
As a way to keep with the times, Kern said, his business, which has nearly 1,000 employees nationwide and provides loans in about 30 different states, has four loan officers and two assistants at their Berlin location who work alongside two other officers throughout the state. All these employees are constantly following the latest market trends and â€śstaying up on investment guidelines,â€ť Kern said, to get the best rate possible for borrowers.
With the close-knit staff, Kern said, the business is close with all their clients, many of whom come by way of word of mouth referrals and no advertising. Going forward, Kern said, his business is always looking to grow but maintaining their clientsâ€™ happiness and satisfaction is the goal.
â€śWe try to treat our clients like family,â€ť said Kern.
Charles Paullin can be reached at 860-801-5074 or firstname.lastname@example.org.