SuperMoney
  American Federal Mortgage Refinance
American Federal Mortgage Refinance
in Mortgage Refinance from American Federal Mortgage · NMLS ID #2756
Unaffiliated

American Federal Mortgage Refinance

Unaffiliated
in Mortgage Refinance from American Federal Mortgage · NMLS ID #2756
Not enough votes for recommendation

Not enough votes for recommendation

Explore a similar product
Try this top product in Mortgage Refinance.
New American Funding Mortgage Refinance
New American Funding Mortgage Refinance 44 reviews
Highlights
Loan Amount $40,000 - $3,000,000
Loan Term (Years) 15 - 30 years

American Federal Mortgage Refinance Review

American Federal Mortgage Refinance is offered by American Federal Mortgage (NMLS #2756), a direct lender founded in 1987 and based in Chester, NJ. American Federal Mortgage Refinance is available in 10 states across the USA.

Key Takeaways

  • Only two mortgage programs offered. American Federal Mortgage Refinance refinances FHA 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.
  • Refinancing for large mortgages. You can refinance mortgages with balances of up to $3,000,000 with American Federal Mortgage Refinance.
  • Non-standard interest rates available. American Federal Mortgage Refinance offers hybrid mortgages, and fixed-rate mortgages.
  • Considers personal use and investment properties. Refinancing available for primary homes, vacation homes, and even investment homes, such as rental properties.
  • Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.

American Federal Mortgage Refinance Pros & Cons

Pros Cons
  • Charges an origination fee.
  • Charges prepayment fees.
  • Only available in 10 states.

American Federal Mortgage Refinance FAQ

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 impact 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 Refinance offers mortgage refinancing with terms ranging from 15 to 30 years.

How long does American Federal Mortgage take to refinance?

Generally, it takes American Federal Mortgage around 30 day to complete a refinance. Of course, this is just an estimate. The exact time will vary depending on the lender and the market.

Does American Federal Mortgage charge a mortgage origination fee?

Yes, American Federal Mortgage Refinance will charge a loan origination fee.

What mortgage programs does American Federal Mortgage offer?

American Federal Mortgage Refinance 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 Refinance allows the following property usage types: 

  • Primary home
  • Secondary homes and vacation properties
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
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 Federal Mortgage

Availability

  Available in 10 states
  • Connecticut
  • Delaware
  • Florida
  • Massachusetts
  • Maryland
  • North Carolina
  • New Jersey
  • New York
  • Pennsylvania
  • South Carolina

Feature Breakdown

Intended Use
  • Primary Home
  • Secondary Home
  • Investment
APR Starting at 3.19%
Loan Term 15 - 30 years
Loan Amount $40,000 - $3,000,000
Interest Rate Types Offered Hybrid Mortgage
Mortgage Programs
  • FHA
  • VA

Be the first to rate

 

Would you recommend American Federal Mortgage Refinance to your friends?

Before we publish your vote:

Please explain your vote by sharing your experience.

Writing a review increases the credibility of your vote and helps your fellow users make a better-informed decision.

Please write a review to submit your vote
(will require moderator approval)

Other Mortgage Refinance