We offer over a variety of loan products
at low wholesale rates
every imaginable type of scenario for all credit grades.
In addition, we have access to grant programs for first-time
home buyers as well as access
to over a dozen investors and banks. We have the outlets and resources
to ensure our clients are paired with a home loan product
which best suits their needs, while maximizing their cash, minimizing their costs (if any),
and closing the loan in as little as 14 days.
It is very important that you
shop around and compare lenders. If one of our competitors
offers you a lower rate or lower rate/fee combination,
simply email us their dated loan estimate (LE) or fees worksheet and
we will do our best to beat or match your current offer.
Home equity loan
- Cash Out
Do you need
to tap into your home’s equity to pay for a home remodeling
project or to pay off a credit card? A home equity loan is a
fixed or adjustable rate loan that is secured by the equity
in your home. With a home equity loan, you borrow a lump sum
of money to be paid back monthly over a set time frame, much
like your first mortgage. The terms home equity loan and
second mortgage are often used interchangeably.
for a home equity loan is similar to your first mortgage.
The closing costs (often 2-3 percent of the loan amount) are
usually lower and, although the interest rate is higher on a
home equity loan, the interest paid is tax deductible.
for second mortgage, your credit must be in good standing
and you must be able to document your income. An appraisal
will be required on your home to determine the home's market
Statement Mortgage: Cash-Out Refinance
Ideal for the self-employed homebuyer
employed borrowers, as well as those who earn seasonal
income, are eligible for some excellent mortgage programs.
This includes mortgage products that do not require you to
submit any tax returns, but instead allow you to use your
bank statements to verify income.
a primary residence, a second home or an investment
property, self-employed borrowers will be the most likely to
benefit from the bank statement program. As its name would
suggest, the concept is predicated on providing evidence of
solvency, specifically in the form of bank statements from
the past 12 months. These can serve as the means for a down
payment, in addition to taking the place of a traditional
employment history or the years of W-2 forms typically
required of buyers during the application process.
Self-employed homeowners are tapping into their home equity
to pay off high interest rate debt, make home improvements,
buy additional real estate, or secure working capital to
expand their businesses. By refinancing, self-employed
homeowners are taking advantage of low-cost capital to
achieve their financial goals.
they doing it?
there are new mortgage rules in effect when qualifying for a
mortgage, if you’re an independent contractor on 1099-income
or are self-employed, you already know how difficult it is
to qualify for a conventional mortgage loan. But new,
common-sense lending options are making it easy for the
self-employed to access capital with a ‘Bank Statement
for successful entrepreneur and small business owners, Bank
Statement Home Loans allow for a higher loan amount (up to
$5 million), and higher loan-to-value (can lend up to 85% of
your home value.) Another benefit of a Bank Statement
Mortgage is that it carries no mortgage insurance (MI).
With home values on the rise this a great opportunity for
the self-employed to access low-cost capital. A Bank
Statement Mortgage can also be used for your vacation or
investment property, a great choice for Realtors and real
estate investors as well.
with 12-months bank statements:
- For Most Self-Employed Borrowers:
up to $3MM | Cash Out Refi to $2.5MM
FICO score 600
reserves – 3 Months
than 1 mortgage lates in past 12 months
borrower must be self-employed and may have a W-2
2 - For Highly
Qualified Self-Employed Borrowers - get our lowest rate:
up to $3MM | Cash Out Refinance to $2.5MM
income ratio up to 43% allowed with minimum FICO score
reserves of 6 months and no mortgage lates for 24 months
Borrower must be self-employed and may have a W-2
Loans - $0 Down / 100% Financing
Not Just For Farmers
come with some big-time benefits, including $0 down payment
and looser credit guidelines than other loan types. But not
all homes are eligible for USDA financing. USDA loans
are an attractive option for buying a home in qualifying
rural areas - especially if you're a first-time home buyer.
are guaranteed by the US Department of Agriculture.
Basically, the guarantee means that if you default on the
loan, the USDA will repay the lender. That gives the lenders
extra security, and in turn, that means that the lenders can
offer better terms and more generous approvals.
To find out if a home is in a USDA Rural Development
Loan eligible location, you can
USDA property eligibility map shows a general idea of
qualified locations, it's best to
contact us to ensure the location is in fact eligible.
This is due to changes to what the USDA considers eligible
as laws and populations change.
Rural Development Loan can also be a good option for
borrowers with average credit. However, the program focuses
on people who might have a short credit history, which
affects their overall score, rather than those trying to
rebuild their credit. The mortgage is for 30 years with a
fixed interest rate that is similar to the rates offered on
guaranteed home loans can fund only owner-occupied primary
residences. Other eligibility requirements include:
citizenship (or permanent residency)
monthly payment — including principal, interest,
insurance and taxes — that’s 29% or less of your monthly
income. Other monthly debt payments you make cannot
exceed 41% of your income. However, the USDA will
consider higher debt ratios if you have a credit score
Dependable income, typically for a minimum of 24 months
acceptable credit history, with no accounts converted to
collections within the last 12 months, among other
criteria. If you can prove that your credit was affected
by circumstances that were temporary or outside of your
control, including a medical emergency, you may still
Without Your Service, We
Wouldn't Have a Home. Let Us Give You Yours.
exclusively to active service members, veterans, and
eligible surviving spouses, VA Home Loans serve you in ways
no other type of home loan can:
Payment When Buying a Home
Private Mortgage Insurance (PMI)
Refinancing for up to 100 Percent of Your Home’s Value
Typically offer lower rates than conventional financing
A VA loan
is a type of government-backed loan that is available for
army veterans. The loan is available to veterans through a
program that was developed by the Department of Veteran
compared to all other 100% financing home loans, VA Home
Loans are the most affordable – both upfront and on a
monthly basis. In nearly all cases, a VA Home Loan is the
smartest financing option for those eligible.
Veterans can choose to construct, buy, repair, or refurbish
a home with the help of a VA loan. The terms and conditions
of a VA loan are defined by the Department of Veteran
Part of the
monthly payments for your VA loan will include a VA Funding
Fee. This fee goes directly to the VA to ensure the VA
mortgage loan program is in place for future generations of
veteran and military home buyers. When you are a VA
borrower, you are able to roll the funding fee over into
your loan amount, instead of paying out-of-pocket like you
would have to with a conventional loan. With all of these
advantages in place, many borrowers are able to purchase a
home without any money due at closing.
to mortgage loans, VA loan refinancing is available to
qualified veteran homeowners. Even if you did not obtain a
VA loan when you first bought your home, you still have the
opportunity to take advantage of the program.
two VA loan refinancing options provided to homeowners:
Cash-Out Refinance - This option is for those who
want to take advantage of the equity in their home and
use it as cash. Not to be confused with a home equity
loan, this type of refinancing will replace your
existing mortgage, giving you the cash you need to pay
for home repairs, renovations, and anything else you
want to use it for.
interest rates and the advantages of the VA Loan, you can
capitalize on a buyer's market and join the millions of
other veterans using their hard-earned benefit.
Although a number of factors influence your final rate, the
government backs all VA Loans, ensuring lenders such as
American Home Lending USA, LLC can offer competitively low
take advantage of today’s low rates with VA loan refinancing
through American Home Lending USA, LLC today!
Convert Your Full
Home Equity into Cash with a VA Cash Out Refinance
If you are a veteran and
currently have a home loan, you may have the option of
refinancing as much as 100 percent of the
total value of your home. This VA guaranteed loan option
allows you to pay off any type of mortgage including VA,
FHA, Conventional, second mortgages and Home Equity Lines of
Credit. The VA cash out refinance program is ideal for
homeowners who have credit card bills or would like to make
upgrades or repairs to their home. An appraisal is
required and you must qualify based on income and credit.
Pay off thousands in high-interest credit card debt with a
cash-out refinance from us!
See if you qualify!
Increase to VA Cash Out
Limits for 2018: You can fully cash out your equity on
loan amounts up to $453,100. For loans above that amount,
the amount of cash you can take out is based on the maximum
conforming loan amount in your area.
This is great for clients, because it means more money for
home renovations and repair, boosting a college or
retirement fund or whatever else you might use it for. We’ll
go over what you need to know to take advantage of this
To apply for a VA refinance
or to find out more about whether you qualify, call one of
our VA Home Loan Specialists at 800-965-0125 or
get started online.
Home Improvement Loan
Buy, Renovate, Create
Your Dream Home - All in One Loan
you're interested in buying a "fixer upper" at a bargain and
renovating it to meet your needs, or your current home is in
need of upgrades and new appliances, an FHA 203k home loan
may be the best solution for you.
typical mortgage loans, the FHA 203(k) loan - a HUD insured
loan - wraps renovation and purchase or renovation and
refinancing costs into one fixed rate mortgage.
203k Rehab Loan or the Federal Housing Administration’s 203k
Rehabilitation Mortgage Insurance Program is a loan created
by the Federal Housing Administration to help homeowners
with the rehabilitation, renovation, and repair of their
homes. A traditional FHA loan does not cover the cost of
repairs incurred when purchasing a new home. An FHA 203k, on
the other hand, combines purchasing and repair costs into a
The FHA 203k is good news for prospective buyers who are
looking to buy cheap property and then convert it into the
home of their dreams.
advantage of this type of loan is that they require low down
payments, resulting in feasible interest rates.
Streamlined 203K Loans
Such types of loans do not give you the liberty to add value
to your home. You cannot add a second floor or an additional
room to your home under such loans. Streamlined loans cap at
$35,000 and allows to you to carry out repairs and
replacements. For instance, you can replace your carpet,
your existing air conditioning unit, put in new windows, or
upgrade your existing kitchen.
Standard 203k Loans
These loans cap at $55,000 and allow you to add value to
your home. This means you can carry out home improvement
projects such as building an addition to your house,
building a basement, or even the addition of swimming pools
and lawns. The renovations will be approved and overseen by
an appropriate consultant.
In order to
be eligible for an FHA 203k, the borrower must have a good
credit score. The FICO defines their scores between the
ranges of 300 to 850. To qualify, the borrower must have a
FICO score of 620 or above.
The debt-to-income ratio is the sum of all your debts
divided by your total income. An FHA 203k is granted only to
those borrowers whose debt-to-income ratio is between 40 and
If you would like any more information about FHA 203k
Rehabilitation loans, don’t hesitate to
Home For $100 Down
FHA & HUD-Owned Home sales incentives -- increasing the
affordability of homeownership for potential home buyers.
Many buyers are not aware that FHA and HUD have a special
$100 dollars down mortgage program, mainly because this is a
specialty program that very few lenders and banks specialize
in. We at American Home Lending USA, LLC participate
in this great program.
100% LTV, varies by county
down payment with FHA financing
may be available for repairs when using FHA financing
homes may be eligible for a 3% closing cost allowance
the $100 Down Program with the
203K home improvement / repair loan to make it your
To begin we
need to discuss what exactly is a HUD owned property and how
you find one. A HUD home is a house that has been foreclosed
on that had homeowners that originally used an FHA mortgage
to purchase the property. The homeowner could not make the
payments for whatever reasons and the bank was forced to
foreclosed on the house. HUD then reimburses the lender or
bank for what is owed to the lender and HUD takes ownership
of the property. Once HUD takes back ownership they will
start to prepare the property for sale. It is then listed
with a local HUD approved Real Estate Broker. This is when
the property is made available to the public for bid!
Even though buyers only have to pay $100 down payment, they
will still need a good faith deposit to hold in escrow when
their contract is taken. HUD requires a buyer to submit with
the purchase contact earnest money of $1,000 if the purchase
price is over $50,000 and $500 if the purchase price is
refinancing option is best for you?
There aren't quite as many loan programs as there are
borrowers, but it seems like it sometimes! We'll work with
you to qualify you for the best loan program to fit your
needs. But there are some general considerations you can
have in mind in advance.
Are you refinancing primarily to lower your rate and monthly
payments? Then your best option might be a low fixed-rate
loan. Maybe you have a fixed-rate mortgage now with a higher
rate, or maybe you have an ARM -- adjustable rate mortgage
-- where the interest rate varies. Even if it's low now,
unlike your ARM, when you qualify for a fixed-rate mortgage
you lock that low rate in for the life of your loan. This is
especially a good idea if you don't think you'll be moving
within the next five years or so. On the other hand, if you
do see yourself moving within the next few years, an ARM
with a low initial rate might be the best way to lower your
sure when to refinance?
Click here to
view some tips that will help in your decision.
Are you refinancing primarily to cash out some home equity?
Maybe you want to pay for home improvements, pay your
child's college tuition bill, take your dream vacation,
whatever. Then you'll want to qualify for a loan for more
than the balance remaining on your current mortgage. If
you've had your current mortgage for a number of years
and/or have a mortgage whose interest rate is higher, you
may be able to do this without increasing your monthly
You want to cash out some equity to consolidate other debt?
Good idea! If you have the equity in your home to make it
work, paying off other debt with higher interest rates than
the interest rate on your mortgage -- for example, credit
cards, home equity loans, car loans, some student loans --
means you can save possibly hundreds of dollars a month.
Do you want to build up home equity more quickly, and pay
off your mortgage sooner? Consider refinancing with a
shorter-term loan, such as a 15-year mortgage. Your payments
will be higher than with a longer-term loan, but in
exchange, you will pay substantially less interest and will
build up equity more quickly. If you have had your current
30-year mortgage for a number of years and the loan balance
is relatively low, you may be able to do this without
increasing your monthly payment -- you may even be able to
save! For example, let's say years ago you took out a
$150,000 30-year mortgage at eight percent. Your payment is
about $1,100, exclusive of taxes, insurance and so on. If
your balance today is down to $130,000, you might take out a
15-year mortgage at six percent and have an almost identical
monthly payment. This is a great option for people whose
main goal is not to save money on their monthly payment but
rather want to build up equity and pay off their home more
Reverse mortgages (also called home equity conversion loans)
enable elderly homeowners to tap into their equity without
selling their home. The lender pays you money based on the
equity you've accrued in your home; you receive a lump sum,
a monthly payment or a line of credit. Repayment is not
necessary until the borrower sells the property, no longer
lives in the home, or passes away. When you sell your
home or no longer use it as your primary residence, you or
your estate must repay the cash you received from the
reverse mortgage plus interest and other finance charges to
Most reverse mortgages require you be at least 62 years of
age, have a low or zero balance owed against your home and
maintain the property as your principal residence.
Reverse mortgages are ideal for homeowners who are retired
or no longer working and need to supplement their income.
Interest rates can be fixed or adjustable and the money is
nontaxable and does not interfere with Social Security or
Medicare benefits. Your lender cannot take property away if
you outlive your loan nor can you be forced to sell your
home to pay off your loan even if the loan balance grows to
exceed property value. You cannot lose your home under
normal circumstance, but please understand foreclosure may
occur if you do not pay your taxes and insurance and
otherwise comply with the loan terms.
Click here to learn more
about reverse mortgages.
What are the
advantages of fixed rate versus adjustable rate loans?
With a fixed-rate
loan, your monthly payment of principal and
interest never change for the life of your loan. Your
property taxes may go up (we almost said down, too!), and so
might your homeowner's insurance premium part of your
monthly payment, but generally with a fixed-rate loan your
payment will be very stable.
Fixed-rate loans are
available in all sorts of shapes and sizes: 30-year,
20-year, 15-year, even 10-year. Some fixed-rate mortgages
are called "biweekly" mortgages and shorten the life of your
loan. You pay every two weeks, a total of 26 payments a year
-- which adds up to an "extra" monthly payment every year.
During the early
amortization period of a fixed-rate loan, a large percentage
of your monthly payment goes toward interest, and a much
smaller part toward principal. That gradually reverses
itself as the loan ages.
You might choose a
fixed-rate loan if you want to lock in a low rate. If you
have an Adjustable Rate Mortgage (ARM) now, refinancing with
a fixed-rate loan can give you more monthly payment
Mortgages -- ARMs, as we called them above -- come
in even more varieties. Generally, ARMs determine what you
must pay based on an outside index, perhaps the 6-month
Certificate of Deposit (CD) rate, the one-year Treasury
Security rate, the Federal Home Loan Bank's 11th District
Cost of Funds Index (COFI), or others. They may adjust every
six months or once a year.
Most programs have a "cap"
that protects you from your monthly payment going up too
much at once. There may be a cap on how much your interest
rate can go up in one period -- say, no more than two
percent per year, even if the underlying index goes up by
more than two percent. You may have a "payment cap," that
instead of capping the interest rate directly caps the
amount your monthly payment can go up in one period. In
addition, almost all ARM programs have a "lifetime cap" --
your interest rate can never exceed that cap amount, no
ARMs often have their
lowest, most attractive rates at the beginning of the loan,
and can guarantee that rate for anywhere from a month to ten
years. You may hear people talking about or read about what
are called "3/1 ARMs" or "5/1 ARMs" or the like. That means
that the introductory rate is set for three or five years,
and then adjusts according to an index every year thereafter
for the life of the loan. Loans like this are often best for
people who anticipate moving -- and therefore selling the
house to be mortgaged -- within three or five years,
depending on how long the lower rate will be in effect.
You might choose an ARM to
take advantage of a lower introductory rate and count on
either moving, refinancing again or simply absorbing the
higher rate after the introductory rate goes up. With ARMs,
you do risk your rate going up, but you also take advantage
when rates go down by pocketing more money each month that
would otherwise have gone toward your mortgage payment.