Where does American Federal Mortgage do business?
American Federal Mortgage is a direct lender based in Chester, NJ. The company was founded in 1987 and offers mortgage refinancing to borrowers in 10 states across the USA.
What range of mortgage balances will American Federal Mortgage refinance?
Mortgage refinancing loans start at $40,000 and go up to $3,000,000
What is the maximum loan term for a mortgage refinance via American Federal 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 Federal Mortgage offers mortgages refinancing with terms ranging from 15 to 30 years.
What is the estimated funding time for a mortgage refinance with American Federal Mortgage?
American Federal Mortgage will typically fund mortgage refinances within day of approval.
Does American Federal Mortgage charge a mortgage origination fee?
Yes, American Federal Mortgage may charge a loan origination fee.
What mortgage programs does American Federal Mortgage offer?
American Federal 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%.
- 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 Federal Mortgage allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. American Federal Mortgage allows the following property usage types:
- Primary home
- Secondary homes and vacation properties
Other Services by American Federal Mortgage
- New Jersey
- New York
- North Carolina
- South Carolina