Call Us Today!

Toll Free
888-441-1850
 

Custom Lending

Our business is making loans; not finding a way to turn them down.  We have hundreds of loan programs.  Chances are, we can get you approval on the loan you need.  If we can't accomplish your request we'll suggest one of our Alternative Loan Solutions.

Why should I consider an Alternative Loan?

Credit Problems:

  1. Is your credit a little "bumpy"?
  2. Is your consumer credit all bad but mortgage/rent good
  3. Is all of your credit bad?
  4. You have no credit!
  5. Are you in Bankruptcy or you just got out, 1 day ago, 1 month ago, or 1-3 years ago?
  6. Are you in Foreclosure?
  7. A, B, C, D or F credit.
  8. You have collections, charge-offs, judgments & tax liens.

Income:

  1. Do you make sufficient money to own a home but just can't prove it?
  2. Are you self-employed and have shown a loss for the last few years?
  3. Are you employed only a short time even just 1 day?
  4. We can use Stated Income or No Income Verification.
  5. We can also use Retirement, Disability income, Social Security, and child support income?

Collateral:

  1. Farms and large acreage
  2. Mobile Homes ( single & double wide )
  3. Manufactured or modular housing
  4. Rural property
  5. Mixed use ( residential/commercial )
  6. Condo ( low rise or high rise )
  7. Condo-nonconforming ( unwarrantable ) 

Loan Amount:

  1. Loan amounts up to $3,000,000
  2. Any loan amounts exceeding $3,000,000+

Borrower:

  1. Foreign National
  2. Trusts
  3. Corporations
  4. Partnerships
  5. Partners

Equity / Loan To Value (LTV) / Debt Ratio:

  1. Up to 107% LTV -- First mortgage – purchase (no down-payment or closing costs ) & no Mortgage Insurance
  2. Up to 125% LTV -- First & Second mortgage - purchase
  3. If equity is required - equity from all gift, all second mortgage, or combination.
  4. Seller may pay up to 6% toward closing costs.
  5. Mattress money, No seasoned funds?
  6. Debt Ratios to 60%
  7. No mortgage Insurance for high LTV.

    Although, these loan programs are not mutually exclusive some programs may not be used in combination with others.  For example, D credit with no income in a high rise condo over $1,000,000 at 107% LTV may not be possible.  Contact one of our loan officers to clarify your loan eligibility questions by fax at (636) 925-2000 or if you prefer send us an e-mail, or call us toll-free at 1-888-441-1850. 

 

Besides Alternative Loan Solutions American Federal  also offers a variety of options:

     Conventional Mortgages:
         1.  Up to 97% of home value
        2.  Competitive rates
        3.  Fast turn-around

   FHA Mortgages:
         1.  Close to 100% LTV ( Loan To Value )
        2.  Government sponsored
        3.  Competitive rates

    No Closing Cost Mortgages:
         1.  No hidden fees
        2.  Refinance whenever the rates fall
        3.  No "breakeven" period
        4.  Why pay all closing costs?

Alternative Loan Quotes

    Alternative loans are priced according to each individual investor's underwriting guidelines.  In the absence of national underwriting standards such as what is available through conventional FHA and FNMA the risk factor becomes very subjective. It is necessary therefore to price each of these loans individually by carefully analyzing your unique characteristics.  Our goal is to provide you with a quote within 24 - 48 hours after receipt of a loan application, credit report, authorization and receipt of a synopsis of unique conditions.  For more information fax us at (636) 925-2000, if you prefer send us an e-mail, or call us toll-free at 1-888-441-1850.