Last Updated: 04/18/2025
American Loans and Mortgage Home Loans
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Last Updated: 04/18/2025
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Highlights
Credit Score Range
560 - 850
Amount Range
$100,000 - $2,000,000
Loan Term (Years)
5 - 30
American Loans and Mortgage Home Loans Review
American Loans and Mortgage Home Loans is offered by American Loans and Mortgage (NMLS #245422), a nonbank financial services provider founded in 1995 and based in Sandy, UT. American Loans Mortgage are available in 50 states and Washington, DC.
Key Takeaways
- Only two mortgage programs offered. American Loans and Mortgage Home Loans provides FHA jumbo and conventional mortgages.
- Financing for a variety of property types. Offers home loans for manufactured, single, and multi-family homes.
- Investment and personal use properties considered. 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.
- Maximum LTV. American Loans and Mortgage Home Loans has a maximum loan to value ratio of 80%.
- Cosigner applications accepted. Applying for American Loans and Mortgage Home Loans with a cosigner can improve your chances of approval and help you qualify for lower interest rates.
- Poor credit accepted. Even if you have bad or poor credit, you can apply. Borrowers with a credit score as low as 560 are considered.
American Loans and Mortgage Home Loans Pros & Cons
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American Loans Mortgage FAQ
How much can you borrow via American Loans and Mortgage?
American Loans Mortgage allows borrowers to apply for loan amounts of up to $2,000,000. 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 is the maximum loan term you can get with American Loans Mortgage?
American Loans Mortgage offers mortgages with terms ranging from 5 to 30 years. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
What mortgage rates does American Loans and 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.
Do they charge mortgage origination fees?
Yes, American Loans Mortgage may charge a loan origination fee .
What mortgage programs are available?
Besides conventional mortgages, American Loans Mortgage offers the following mortgage types:
- 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%.
- Jumbo loans: Any mortgage with a loan amount above the conforming loan limits set by the Federal Housing Finance Agency.
What property usage types does American Loans Mortgage allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. American Loans 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 American Loans and Mortgage Home Loans is (385) 492-5592.
What is the support contact email?
The support contact email for is rates@americanloans.com.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
Hours of Operation
SundayClosedMonday9:00AM - 6:00PMTuesday9:00AM - 6:00PMWednesday9:00AM - 6:00PMThursday9:00AM - 6:00PMFriday9:00AM - 6:00PMSaturdayClosed
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