American Fidelity Mortgage Broker
in Mortgage Brokers from American Fidelity Mortgage ServicesUnaffiliated
American Fidelity Mortgage BrokerUnaffiliated
in Mortgage Brokers from American Fidelity Mortgage Services
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American Fidelity Mortgage Broker Review
Where does American Fidelity Mortgage Broker do business?
American Fidelity Mortgage Broker is a mortgage broker with headquarters in Lisle, IL. It operates in 3 states.
The company was founded in 1983 and helps borrowers find a direct lender that will approve the loan amounts, rates, and terms they require.
How does American Fidelity Mortgage Services get paid?
Mortgage brokers get paid either by lenders or by borrowers. However, they cannot receive compensation from both parties.
American Fidelity Mortgage Services offers lender and borrower-paid fee models. Borrowers can choose which model works best for their circumstances. Typically, lender-paid compensation rates result in higher fees for borrowers. However, borrower-paid rates increase the upfront costs of getting a mortgage.
What fees does American Fidelity Mortgage Services charge?
Although cost should not be the only factor when choosing mortgage brokers, it is smart to compare the rates, fees, and services mortgage brokers offer before making a decision.
Does American Fidelity Mortgage Broker charge broker administration fees?
No, American Fidelity Mortgage Services does not charge a broker administration fee.
Does American Fidelity Mortgage Services charge broker loan origination fees?
No, American Fidelity Mortgage Services does not charge a broker loan origination fees.
Does American Fidelity Mortgage Broker charge broker upfront fees?
No, American Fidelity Mortgage Services does not charge broker upfront fees.
Does American Fidelity Mortgage Services charge a yield-spread premium?
No, American Fidelity Mortgage Services does not receive a yield spread premium from borrowers. Brokers that are paid a yield-spread premium from lenders have an incentive to steer borrowers to lenders thatt offer higher yield-spread premiums even if they qualify for a lower interest with another lender. This is not always bad for borrowers as it can lower the upfront costs of a mortgage. For instance, borrowers who only plan to hold a mortgage for a few years may find this option cheaper.
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What mortgage programs does American Fidelity Mortgage Broker offer?
American Fidelity Mortgage Broker offers the following mortgage programs:
- 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%.
- HARP: A mortgage refinance program for home loans owned or backed by Fannie Mae or Freddie Mac. No minimum credit score or value appraisal required.
- 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 types of mortgage does American Fidelity Mortgage Services broker?American Fidelity Mortgage Services works with the following types of mortgages:
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