Where does American Federal Mortgage do business?
American Federal Mortgage is a direct lender based in Chester, NJ. The company was founded in 1987 and offers mortgages to borrowers in 10 states.
How much can you borrow via American Federal Mortgage?
American Federal Mortgage allows borrowers to apply for loan amounts of up to $3,000,000. Note that the maximum loan amount you can borrow will also vary depending on the type of mortgage you choose, regardless of the lender you choose.
What range of rates does American Federal Mortgage offer?
American Federal Mortgage offers home loans with APRs starting at 3.19% .
Does American Federal Mortgage charge a mortgage origination fee?
Yes, American Federal Mortgage may charge a loan origination fee.
What mortgage programs does American Federal Mortgage offer?
American Federal Mortgage offers the following mortgage types:
- Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
- FHA: Mortgages insured by the FHA, which usually have less stringent eligibility requirements, but borrowers must pay a mortgage insurance premium. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
- VA: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses.
What property usage types does American Federal Mortgage allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. American Federal Mortgage allows the following property usage types:
- Primary home
- Secondary homes and vacation properties
Other Services by American Federal Mortgage
- New Jersey
- New York
- North Carolina
- South Carolina