
Ally Bank
4.9 Bankrate ScoreAlly Bank began offering direct-to-consumer home...
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for .
American Federal Mortgage Corporation is good for borrowers looking for convenient application options and a streamlined closing process.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate.
To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months.
Loans offered
Conventional, jumbo, FHA, VA, fixed-rate, adjustable-rate; rate-and-term and cash-out refinancing
Min. credit score required
620 for conventional loans, 660 for jumbo loans, 580 for FHA loans
Nationwide availability
Available in Connecticut, Delaware, Florida, Georgia, Illinois, Maryland, Massachusetts, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Tennessee and Texas
4.4
Bankrate Score
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
Min. credit score required
620 for conventional loans, 660 for jumbo loans, 580 for FHA loans
Online application and closing process
Instant rate quote tool
Approves loans in as little as 24 hours
Doesn't offer USDA loans
No brick-and-mortar locations
American Federal Mortgage Corporation is good for borrowers looking for convenient application options and a streamlined closing process.
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.
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.
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.
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.
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.
5.0
131 ratings
This lender has 1 reviews.
99% of customers would recommend this lender.
The consumer reviews posted on Bankrate.com ("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.
Bankrate cannot guarantee or verify the accuracy of the opinions shared by individual reviewers, and reserves the right to reject or remove any review, at any time, for any reason at Bankrate’s sole discretion, including but not limited to those that Bankrate deems inappropriate, fraudulent, invalid, irrelevant, or otherwise outside the parameters of the Bankrate Review Guidelines, the Privacy Policy, or the Terms of Use.
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.
Rates and terms of loan honored?
Closed mortgage with this lender?
Closed on time?
Would you recommend this lender?
Rates and terms of loan honored?
Closed mortgage with this lender?
Closed on time?
Would you recommend this lender?