AmeriDream Mortgage Group
in Mortgage Brokers from AmeriDream Mortgage Group LLCUnaffiliated
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AmeriDream Mortgage Group Review
AmeriDream Mortgage Group services are offered by AmeriDream Mortgage Group LLC (NMLS #275209), a licensed broker founded in 2006 and based in The Colony, TX. AmeriDream Mortgage Group services are available in 2 states across the USA.
How does AmeriDream Mortgage Group get paid?
Mortgage brokers get paid either by lenders or by borrowers. However, they cannot receive compensation from both parties.
AmeriDream Mortgage Group LLC 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 AmeriDream Mortgage Group 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 AmeriDream Mortgage Group charge broker administration fees?
No, AmeriDream Mortgage Group does not charge a broker administration fee.
Does AmeriDream Mortgage Group charge broker loan origination fees?
No, AmeriDream Mortgage Group does not charge a broker loan origination fees.
Does AmeriDream Mortgage Group charge broker upfront fees?
No, AmeriDream Mortgage Group does not charge broker upfront fees.
Does AmeriDream Mortgage Group charge a yield-spread premium?
No, AmeriDream Mortgage Group 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 AmeriDream Mortgage Group offer?
AmeriDream Mortgage Group 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%.
- FHA 203k: An FHA mortgage you can also use to finance home improvements.
- Jumbo: Any mortgage with a loan amount above the conforming loan limits set by Fannie Mae and Freddie Mac. As of 2018, the jumbo threshold is $453,100 in most of the United States.
- USDA: A zero down payment mortgage loan with low rates for suburban and rural homebuyers.
- 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 AmeriDream Mortgage Group broker?AmeriDream Mortgage Group works with the following types of mortgages:
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