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  American Mortgage Home Loans

American Mortgage Home Loans

in Home Purchase Mortgages from American Mortgage Service Co. · NMLS ID #8246

Unaffiliated

American Mortgage Home Loans

Unaffiliated

in Home Purchase Mortgages from American Mortgage Service Co. · NMLS ID #8246

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Highlights
Loan Amount Up to $424,100
Loan Term (Years) N/A

American Mortgage Home Loans Review

American Mortgage Home Loans is offered by American Mortgage Service Co. (NMLS #8246), a direct lender founded in 1975 and based in Cincinnati, OH. American Mortgage Home Loans is available in 10 states across the USA.

Key Takeaways
  • 3 different mortgage programs offered. American Mortgage Home Loans offers FHA, USDA, 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.
  • Standard interest rates types. American Mortgage Home Loans offers and fixed-rate mortgages.
  • Primary and secondary homes considered. Investment homes, such as rental properties, do not qualify for financing. However, American Mortgage Home Loans does offer financing for primary and secondary homes (e.g. vacation properties).
  • Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
American Mortgage Home Loans Pros & Cons
Pros Cons
  • Charges an origination fee.
  • Charges prepayment fees.
  • Only available in 10 states.
American Mortgage Home Loans FAQ

How much can you borrow via American Mortgage Service Co.?

American Mortgage Home Loans allows borrowers to apply for loan amounts of up to $424,100. 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 Mortgage Service Co. 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.

Does American Mortgage Home Loans charge an application fee?

Do they charge mortgage origination fees?

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

What mortgage programs are available?

American Mortgage Home Loans 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%.
  • USDA loans: A zero down payment mortgage loan with low mortgage rates for suburban and rural homebuyers. The USDA doesn't require a minimum credit score, but most mortgage lenders require a minimum credit score of 640.
  • 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 Mortgage Home Loans allow?

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

  • Primary home

What is the customer service phone number?

The customer service number for this business card is (888) 421-9600.

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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.

Contact

Other Services by American Mortgage Service Co.

Availability

  Available in 10 states
  • Alabama
  • Arkansas
  • Florida
  • Indiana
  • Kentucky
  • Michigan
  • Mississippi
  • Ohio
  • Tennessee
  • West Virginia

Feature Breakdown

Intended Use Primary Home
Primary Residence
Loan Amount Up to $424,100
Interest Rate Types Offered N/A
Mortgage Programs
  • FHA
  • USDA
  • VA
Terms 10, 15, 20, 30

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