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  American Federal Home Mortgage

American Federal Home Mortgage

in Home Purchase Mortgages from American Federal Mortgage · NMLS ID #2756

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American Federal Home Mortgage

Unaffiliated

in Home Purchase Mortgages from American Federal Mortgage · NMLS ID #2756

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Highlights
Loan Amount $40,000 - $3,000,000
Loan Term (Years) N/A

American Federal Home Mortgage Review

American Federal Home Mortgage is offered by American Federal Mortgage (NMLS #2756), a direct lender founded in 1987 and based in Chester, NJ. American Federal Home Mortgage is available in 10 states across the USA.

Key Takeaways
  • Only two mortgage programs offered. American Federal Home Mortgage provides FHA VA conforming and conventional mortgages.
  • Specializes in multi-family properties. Only offers mortgages for multi-family properties, but not for single-family homes or manufactured homes.
  • Refinancing for large mortgages. You can refinance mortgages with balances of up to $3,000,000 with American Federal Home Mortgage.
  • Standard interest rates types. American Federal Home Mortgage offers and fixed-rate mortgages.
  • Considers personal use and investment properties. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
  • Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
American Federal Home Mortgage Pros & Cons
Pros Cons
  • Charges an origination fee.
  • Charges prepayment fees.
  • Only available in 10 states.
American Federal Home Mortgage FAQ

How much can you borrow via American Federal Mortgage?

American Federal Home 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 mortgage rates does American Federal Mortgage offer?

Mortgage rates change daily based on market conditions and vary significantly depending on the loan type and the length of the term. For instance, fixed rate mortgages will typically have a higher interest rate than mortgages with variable rates, and jumbo loans usually have higher mortgage rates than conforming conventional loans. Find the best interest rate available to you by getting quotes from three or more mortgage lenders before choosing a home loan.

American Federal Home Mortgage offers home loans with APRs starting at 3.19% .

Does American Federal Home Mortgage charge an application fee?

Do they charge mortgage origination fees?

Yes, American Federal Home Mortgage may charge a loan origination fee.

What mortgage programs are available?

American Federal Home Mortgage offers the following mortgage types:

  • Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
  • FHA loans: FHA loans are mortgages insured by the FHA. They offer competitive mortgage rates and have less stringent eligibility requirements. However, borrowers must pay a mortgage insurance premium. For instance, you can apply for an FHA loan with a credit score as low as 580. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
  • VA loans: 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. VA loans offer competitive mortgage rates, and don't have a minimum credit score. However, the mortgage lenders that offer them will typically require a credit score of at least 640.

What property usage types does American Federal Home Mortgage allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. American Federal Home Mortgage allows the following property usage types: 

  • Primary home
  • Secondary homes and vacation properties
  • Investment properties and house flipping projects

What is the customer service phone number?

The customer service number for this business card is (888) 321-4687.

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Contact

Other Services by American Federal Mortgage

Availability

  Available in 10 states
  • Connecticut
  • Delaware
  • Florida
  • Maryland
  • Massachusetts
  • New Jersey
  • New York
  • North Carolina
  • Pennsylvania
  • South Carolina

Feature Breakdown

Intended Use
  • Investment
  • Primary Home
  • Secondary Home
Investment
Primary Residence
APR Starting at 3.19%
Loan Amount $40,000 - $3,000,000
Interest Rate Types Offered N/A
Mortgage Programs
  • FHA
  • VA
Terms 15, 30

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