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American Federal offers a complete menu of products and services.

What set us aside from the competition is our desire to deliver the best products via the lowest rates in the nation. Our loan counselors are empowered to deliver interest rates priced live to the market. We work on a high volume low overhead basis. It all starts with the 30-year fixed rate, the "Cadillac" of mortgage programs. The majority of customers need not look further than the 30-year fixed. At American Federal, we consider the 30-year fixed a staple of our mortgage offerings. Since mechanically, all 30-year fixed rate loans are the same; the rate is paramount to choosing the right one. Since our competition has higher fixed rates they will often sell you an alternative product. Do not be sold into a different product for the wrong reasons.

Products

Adjustable Rate Mortgages:

Adjustable rate mortgages are an increasingly popular way to leverage your mortgage buying power and minimize your monthly payments. If your plans are to be in your home for a limited number of years an adjustable could be the right choice for you. Unfortunately when you go with an ARM your decisions are not over. Unlike the fixed rate mortgage all adjustables are not created equal!

Index, margin and caps are integral parts of any adjustable. Recently a whole new set of indices such as cofi, libor and mta have proliferated. There are also some potential hazards to avoid such as negative amortization and prepayment penalties.

At American Federal we insist you understand the product you receive. It is only then, that you can make an educated choice between fixed and adjustable.

Low To Moderate Income And Properties

American Federal offers a variety of programs targeted towards qualifying borrowers and properties. Typically, any low income to moderate-income borrower or property in a low or moderate census tract may be eligible for a rate reduction. These reductions can be as significant as one (1) full percent on the interest rate. Additional benefits may include added underwriting flexibility, minimum down payment requirements, etc. Ask your American Federal loan officer to investigate these programs for you.

Pre Commitment:

Did you know that you could apply to American Federal for a mortgage approval even if you have not found a home yet? In fact, your pre-approval may help you in your quest to become a homeowner. Having an actual mortgage commitment in hand will greatly strengthen your bargaining position. If there are multiple offers on a particular property, your offer will stand out. You may even be able to use your commitment to negotiate a lower contract price. Very often sellers will accept a lower price if you can close quickly. Without a commitment in hand this may not be possible.

Shop and Lock:

American Federals shop and lock program is the perfect solution to rising interest rates. Most lenders will not let you lock-in a rate until you have a signed real estate contract. Unfortunately while your looking for the perfect home, rates may be increasing daily. As you watch rates rise you may see your dream home slipping away. Not at American Federal.

American Federal will allow you to lock an interest rate before you find your dream home. This may save you thousands of dollars over the life of your home mortgage. Contact us immediately to see how you can lock your rate now while shopping for your dream home.