American Federal Mortgage Corporation Review 2025

American Federal Mortgage 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 loan prequalification and issue an approval in as little as 24 hours. 

Pros and cons of American Federal Mortgage Corporation

How Bankrate scored American Federal Mortgage

Affordability: 5/5

American Federal Mortgage typically advertises mortgage rates and fees below market average. It scores 5 out of 5 stars for affordability.

• Interest rates: American Federal’s advertised mortgage rates were lower than the Bankrate national average at the time of this review.
• Down payment: American Federal provides 3 percent-down conventional loans, among other low-down payment options.
• Closing costs: American Federal charges a processing/underwriting fee.

Availability: 3.8/5

American Federal Mortgage is only available in 14 states, but offers many loan options. We score the lender 3.8 out of five stars for availability.

• Home loans offered: American Federal offers conventional, jumbo, FHA  and VA loans.
• Footprint: American Federal Mortgage works with borrowers in some states, including New York, Pennsylvania and Texas
• Where to find: You can apply for a mortgage with American Federal Mortgage online or by phone.

Borrower experience: 4.6/5

American Federal Mortgage requires you to provide contact information to get a rate quote. That lowered its borrower experience score somewhat, to 4.6 out of 5 stars.

• Preapproval and application process: 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.
• Transparency: American Federal Mortgage 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.
• Customer service: You can reach American Federal’s customer service team at 862-259-3219.

Images courtesy of American Federal Mortgage Corporation as of March 21, 2024. Note: Depending on method of contact, your individual credit profile and other circumstances, your experience might differ.

American Federal Mortgage reputation

American Federal Mortgage Corporation has been in business for more than 30 years. The lender has a Trustpilot rating of 4.6 out of five stars, with 94 percent of customers naming the lender “excellent.”

American Federal Mortgage special offers

Close with EASE

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.

Employee mortgage benefit program

American Federal works with certain employers to offer their employees mortgages at discounted rates and with lower fees. If you work for an employer that participates in the program, you can access benefits such as:

• Discounted interest rates
• No application fee and a refunded appraisal fee
• $2,000 Closing Cost Credit
• In-house title and homeowners insurance programs
• On site home buying and refinance seminars
• On site financial planning

Refinancing with American Federal Mortgage

American Federal Mortgage offers both rate-and-term and cash-out refinancing options. 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.

How to apply for a mortgage with American Federal Mortgage

You can apply for a mortgage with American Federal Mortgage online or by phone at 888-321-4687.