Types of Home Loans - All Available through American Financial Resources

There is a huge variety in the products available for home financing. When determining which is the right home mortgage for you, you and your American Financial Resources loan consultant will look at several factors.

These include:

• What type of property is being financed? There are specific home loan programs available for certain types of properties including manufactured and mobile homes, rural properties which may qualify for 100% financing through a USDA loan, and homes which will have a loan amount over a certain value (in general $417,000, but more in some higher cost areas) must be financed with a jumbo mortgage loan.
• What are the goals for the property or mortgage loan? If you plan on owning your home for many years you will likely be interested in a fixed rate home mortgage, which will give you a consistent mortgage payment for the life of the loan. Should your plans involve relocating, upsizing, or downsizing in the next few years you may prefer to take advantage of a lower rate adjustable rate mortgage. Investment Property home financing programs are available for properties which will be rented out and used to generate income. Call 800-316-9508 to speak with an American Financial Resources consultant for more details.
• Who is the borrower seeking the home loan? It is also important to consider characteristics about the borrower. Active duty personnel and veterans of the US Military may qualify for a VA mortgage loan. If your credit is less than perfect (FICO scores between 600 - 620) you may be able to take advantage of a unique home financing product designed by American Financial Resources specifically for people like you. An interest only home loan may be a good fit for those who want to lock in today's low interest rates, but expect a rise in income in the future. This could include a parent planning on returning to work after raising children, or someone finishing their education.

Request a home loan rate quote from American Financial Resources

To begin the search for the perfect home financing product for you and your property request a rate quote or Get Started Online today.