Understanding your credit score

Understanding Your Credit Score

One of the most important pieces to the puzzle in obtaining home financing is your credit score.  The higher your credit score is, the more favorable you are looked upon by lenders.  Your score and the information contained in your credit report, will determine your eligibility for certain home loans. There are many factors that […]

fast loan approval

Get Your Loan Approved Fast!

The mortgage process has a lot of moving parts.  With many new regulations and compliance requirements, there is a vast amount of paperwork and numerous people involved in getting your home loan approved.  In order to process your loan fast and efficiently, there are some things you can do to help cut down a significant […]

What is an escrow account?

How does an escrow account work?

One of the most frequently asked questions we get from our clients is “What is my escrow account and how does it affect my mortgage payment?” There are two parts to every mortgage payment. #1 – There is the payment on the loan itself based on how much you borrow and the interest rate. And […]

mortgage professionals wanted

Join ALCOVA Mortgage

If you are a mortgage professional that values integrity and character and you have a burning desire to serve clients with passion and purpose – then ALCOVA should be a great fit for you. We are an entrepreneurial company with a servant mind set.  In an industry that has seen constant change over the past […]


ALCOVA Mortgage – About Us

ALCOVA was founded in 2003 through a passion to serve.  Since that time, we have helped over 10,000 borrowers reach their home financing goals.  We have over 25 offices located throughout the Mid-Atlantic region staffed with highly trained team members who each average over ten years of mortgage experience.  We offer numerous mortgage products and […]


USDA – NO Money Down Loan Program

No money down?  No problem! We have been asked by many first time home buyers if there are still loan programs available with no down payment requirements.  The answer is…absolutely! The United States Department of Agriculture, or USDA, has a special no money down rural housing loan program designed specifically for housing located in less […]


APR vs. Interest Rate

Each Mortgage Loan has both an interest rate and an APR figure that are required to be disclosed to you. What’s the difference? Your monthly payment is based off of your interest rate and not your loan’s APR. Why is my APR higher than my interest rate? The interest rate does not reflect fees or […]


New Home Construction Loans Explained

It’s a very exciting time when you are building your home, especially when it’s a custom home.  It can also be a bit stressful also, as the choices you have to make can overwhelm you.  Picking out your floor plan, your colors, flooring, cabinets, and countertops can be exhausting.  With all of these decisions you […]


What is a Debt Consolidation Refinance Loan?

If you are struggling with high interest debt, including credit cards and other monthly installment loans, a debt consolidation loan may be able to ease your monthly financial burden.  A debt consolidation refinance simply involves refinancing your existing mortgage loan and using some of the equity you have in your home to pay off other […]


What is Cash-Out Refinancing?

If you have equity in your home, it can be used as a great tool to use to pay for things like college, home renovation, to buy out another owner of your property, to invest in buying other Real Estate, or to put the funds to use in some other way.  In the Lending Industry […]


Refinance Your Home Loan

No matter what our current financial situation is, everyone looks for ways to save money.  One of the best ways to free up monthly cash savings to your bottom line is to refinance your home loan.  In this current low interest rate environment, you should talk to a lender to see if refinancing your current […]


Who Qualifies for a VA Loan?

Who Qualifies for a VA Loan   You’ve probably heard or seen mortgage companies advertising that they offer VA loans.  The term “VA” stands for Veteran’s Administration and is available to certain Veterans who have served their country for a minimum amount of active duty. So, welcome to ALCOVA Mortgage’s Education Center! If you are […]