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American Federal Mortgage Corporation Review 2023

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At a glance

American Federal Mortgage Corporation


Rating: 4.4 stars out of 5
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Bankrate Score

Mortgage Percent

Loans offered

Conventional, jumbo, FHA, VA, fixed-rate, adjustable-rate; rate-and-term and cash-out refinancing


Nationwide Availability

Available in Connecticut, Delaware, Florida, Georgia, Illinois, Maryland, Massachusetts, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Tennessee and Texas

Credit Good

Min. credit score required

620 for conventional loans; 660 for jumbo loans; 580 for FHA loans

Pros and cons

Checkmark Pros

  • Online application and closing process
  • Instant rate quote tool
  • Approves loans in as little as 24 hours

Close X Cons

  • Doesn't offer USDA loans
  • No brick-and-mortar locations

American Federal Mortgage Corporation overview

American Federal Mortgage Corporation is a direct lender with an online-based application and closing process. The lender claims to offer some of the lowest interest rates and fees, and like others, can provide a loan prequalification in order to help you budget when shopping for a home and issue an approval in as little as 24 hours. You can submit a mortgage application to this lender online or by phone. As a direct lender, American Federal Mortgage provides the approvals for loans and also the funds for closing. Headquartered in Chester, New Jersey, the lender was founded in 1987, and is now one of the country’s largest privately-held mortgage bankers.

American Federal Mortgage Corporation is good for

Borrowers looking for convenient application options and a streamlined closing process

Breakdown of American Federal Mortgage Corporation overall score

  • Affordability: American Federal Mortgage Corporation usually doesn’t charge fees, which can save you from having to pay more at closing.

  • Availability: This lender is available in less than 20 states, and doesn’t offer USDA loans.

  • Borrower experience: American Federal Mortgage has high ratings from past customers and boasts a convenient digital application, underwriting and closing process.


To determine a mortgage lender’s Bankrate Score, Bankrate’s editorial team rates lenders on a scale of one to five stars based on a variety of factors relating to the lender’s products and services. Bankrate’s partners compensate us, but our opinions are our own, and partner relationships do not influence our reviews. Here is our full methodology.

Affordability: 3/5

American Federal Mortgage typically doesn’t charge any lender fees. The lender doesn’t display mortgage rates on its website, but you can obtain a rate quote quickly by completing a short online form. This requires providing your name, address, requested loan amount and the purpose of the mortgage: home purchase or refinance.

Availability: 5/5

American Federal Mortgage offers conventional, FHA and VA loans to borrowers in some states, including New York, Pennsylvania and Texas. Notably, you might qualify for a jumbo loan with a credit score as low as 660 from this lender.

Borrower experience: 4.8/5

American Federal Mortgage Corporation has been in business for more than 30 years. The lender has a Trustpilot rating of 4.5 out of five stars, with 94 percent of customers naming the lender “Excellent.” It isn’t accredited by the Better Business Bureau, however.

American Federal Mortgage is all about speed and convenience, and has incorporated technology throughout the preapproval, application and closing process. Its application process reduces the effort involved in gathering documentation by allowing you to link your bank statements to help verify income in a secure online portal, and you can track your loan’s progress from anywhere using your computer or phone. When it’s time to close your loan, you can opt for the lender’s Close with EASE (Early Access, Sign Electronically) process that allows you to easily review and e-sign closing paperwork. According to the lender, this platform cuts down in-person signing to under 10 minutes.

Lastly, there are many resources available on the lender’s website, including a text chat feature to answer any questions you might have before applying and several calculators, such as a mortgage payment calculator and a rent versus buy calculator.

To get started with a loan from American Federal Mortgage, you can call the lender at 888-321-4687.

Refinancing with American Federal Mortgage Corporation

American Federal Mortgage offers refinancing. Though the lender doesn’t display its refinance rates online, it does offer a free refinance analysis that provides a comparison of your existing loan and current rates and options. The analysis is designed to help you decide whether refinancing makes sense for your situation. You can obtain a refinance quote form by completing a short form on the lender’s website.

Alternatives to American Federal Mortgage Corporation

American Federal Mortgage Corporation consumer reviews



Rating: 5 stars out of 5

130 reviews

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About consumer ratings

Customer service rating

Rating: 5 stars out of 5
Level of service
Rating: 5 stars out of 5
Rating: 4.9 stars out of 5
Rating: 5 stars out of 5

99% of reviews would recommend this lender

3 of 3 rates honored

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Write a review of your experience with American Federal Mortgage Corporation.

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The consumer reviews posted on ("Bankrate") are individual, subjective opinions of reviewers, and not of Bankrate. Bankrate does not endorse any of the opinions expressed by reviewers or any responses to reviews.

To help serve you with relevant information the consumer reviews shown below are limited to only those that this advertiser has received during the past 12 months.

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Written by

Mia Taylor

Contributing Writer

Mia Taylor is a contributor to Bankrate and an award-winning journalist who has two decades of experience and worked as a staff reporter or contributor for some of the nation’s leading newspapers and websites including The Atlanta Journal-Constitution, the San Diego Union-Tribune, TheStreet, MSN and

Edited by

Suzanne De Vita

Arrow Right

Mortgage editor