Where does American Equity Mortgage do business?
American Equity Mortgage is a direct lender based in Saint Louis, MO. The company was founded in 1992 and offers mortgage refinancing to borrowers in 17 states across the USA.
What is the maximum loan term for a mortgage refinance via American Equity Mortgage?
The term of a mortgage refinance will determine the cost of your monthly payments. Longer terms will typically reduce your monthly payments but it will also increase the interest you pay. American Equity Mortgage offers mortgages refinancing with terms ranging from 15 to 30 years.
What is the estimated funding time for a mortgage refinance with American Equity Mortgage?
American Equity Mortgage will typically fund mortgage refinances within day of approval.
Does American Equity Mortgage charge a mortgage origination fee?
Yes, American Equity Mortgage may charge a loan origination fee.
What mortgage programs does American Equity Mortgage offer?
American Equity Mortgage offers the following mortgage types:
- 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.
- 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 property usage types does American Equity Mortgage allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. American Equity Mortgage allows the following property usage types:
- Primary home
- Secondary homes and vacation properties
Other Services by American Equity Mortgage
- North Carolina