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  American Mortgage Refinance
American Mortgage Refinance
in Mortgage Refinance from American Mortgage Service Co. · NMLS ID #8246
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American Mortgage Refinance

Unaffiliated
in Mortgage Refinance from American Mortgage Service Co. · NMLS ID #8246
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Highlights
Loan Amount Up to $3,000,000
Loan Term (Years) 15 - 30 years

American Mortgage Refinance Review

American Mortgage Refinance is offered by American Mortgage Service Co. (NMLS #8246), a direct lender founded in 1975 and based in Cincinnati, OH. American Mortgage Refinance is available in 10 states across the USA.

Key Takeaways

  • 5 different mortgage programs offered. American Mortgage Refinance refinances FHA, FHA 203k, USDA, 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.
  • Non-standard interest rates available. American 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 Mortgage Refinance Pros & Cons

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

American Mortgage Refinance FAQ

What is the maximum loan term for a mortgage refinance via American Mortgage Refinance?

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

How long does American Mortgage Refinance take to refinance?

Generally, it takes American Mortgage Refinance between 30 and 60 days 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 Mortgage Refinance charge a mortgage origination fee?

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

What mortgage programs does American Mortgage Refinance offer?

American 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%.
  • 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 Mortgage Refinance allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. American Mortgage Refinance allows the following property usage types: 

  • Primary home
  • Secondary homes and vacation properties
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Availability

  Available in 10 states
  • Alabama
  • Arkansas
  • Florida
  • Indiana
  • Kentucky
  • Michigan
  • Mississippi
  • Ohio
  • Tennessee
  • West Virginia

Feature Breakdown

Intended Use
  • Primary Home
  • Secondary Home
  • Investment
APR Starting at 3.058%
Loan Term 15 - 30 years
Loan Amount Up to $3,000,000
Interest Rate Types Offered Hybrid Mortgage
Mortgage Programs
  • FHA
  • FHA 203k
  • USDA
  • VA
Terms 3/1, 5/1, 7/1, 10/1, 15, 30 years

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