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BOR curveBill of Rights - American Mortgages
Question 1
To Begin - Pick A State:
Question 2
Type of Product:
Question 3
Mortgage Amount: (ie:150000)
Question 4
Purchase Price/Property Value (ie:150000)
Question 5
First Name:

Last Name:

Your Email:

Your Phone:
Question 6

Products and Services

AFMC Mortgage offers a complete menu of products and services.

What set us aside from the competition is our desire to deliver the best products via the lowest rates in the nation. Our loan counselors are empowered to deliver interest rates priced live to the market. We work on a high volume low overhead basis. Unlike our competition, we offer our mortgage rates minus any sales commissions or unnecessary mark-up. It all starts with the 30-year fixed rate, the "Cadillac" of mortgage programs. The majority of customers need not look further than the 30-year fixed. At AFMC Mortgage, we consider the 30-year fixed a staple of our mortgage offerings. Since mechanically, all 30-year fixed rate loans are the same; the rate is paramount to choosing the right one. Since our competition has higher fixed rates they will often sell you an alternative product. Do not be sold into a different product for the wrong reasons.

Consistently having the lowest mortgage rates across product lines allows our mortgage counselors to be objective. They have no hidden agenda when they council you on the various mortgage products. So be confident that when you click on the links below, you are in the right place.


Adjustable Rate Mortgages:

Adjustable rate mortgages are an increasingly popular way to leverage your mortgage buying power and minimize your monthly payments. If your plans are to be in your home for a limited number of years an adjustable could be the right choice for you. Unfortunately when you go with an ARM your decisions are not over. Unlike the fixed rate mortgage all adjustables are not created equal!

Index, margin and caps are integral parts of any adjustable. Recently a whole new set of indices such as cofi, libor and mta have proliferated. There are also some potential hazards to avoid such as negative amortization and prepayment penalties.

At AFMC Mortgage we insist you understand the product you receive. It is only then, that you can make an educated choice between fixed and adjustable.

Interest Only:

As housing prices have skyrocketed many families are looking for ways to keep their mortgage payments down. One increasingly popular loan is the interest only mortgage. Traditional loans allocate a portion of each monthly payment towards principal and interest. Over the life of the loan principal is reduced and the loan is paid off. With interest only loans, borrowers pay only interest for a pre-determined period. After that initial period, the loan then amortizes normally. The benefit comes during the interest only period as monthly payments are greatly reduced. An interest only loan can also be used as a tool to maximize buying power. Interest only products may also be an efficient way to counteract interest rate increases. As with any financial product, there can be potential negatives. One possible concern is the lack of equity build up in your home. At AFMC Mortgage we can help you weigh the positives versus the negatives so you have the ability to make an educated decision.

Low To Moderate Income And Properties

AFMC Mortgage offers a variety of programs targeted towards qualifying borrowers and properties. Typically, any low income to moderate-income borrower or property in a low or moderate census tract may be eligible for a rate reduction. These reductions can be as significant as one (1) full percent on the interest rate. Additional benefits may include added underwriting flexibility, minimum down payment requirements, etc. Ask your AFMC Mortgage loan counselor to investigate these programs for you.


A piggyback loan is a combination of a 1st mortgage followed by a second lien. It is most often used as a creative method of eliminating mortgage insurance. An applicant borrowing more than 80% of the value of the home typically will need to pay mortgage insurance. In a piggyback you borrow 80% of the value of the home in a first lien and the excess in a second mortgage. Not only is the combined payment less with the piggyback loan, but also you maximize your tax deduction. Piggybacks can also turn a jumbo loan into a conforming loan amount. Used in the proper loan amount combination this can dramatically save the borrower over the life of the loan.

No Docs

No documentation loans are a broad-based category of loans originally created for the self-employed. Over the years they have expanded to include all types of borrowers and many diverse situations. No doc loans are as diverse as the applicants that need them. They are based on credit scores, down payment, and the level of documentation provided. Some of the types available include: Stated Income, Reduced Documentation, Stated Income Stated Asset, No Ratio and No Income No Asset. The only way to navigate the maze of products is through a qualified mortgage professional...

Credit Challenged:

Credit scoring is increasingly influencing lending decisions. Typically, lenders run three credit scores and rely on the middle score. Unfortunately there are potential applicants who may have compromised credit. FNMA underwriting requires a credit score above 620 for most loans. A large market has developed for loans that do not conform to the industry guidelines. These flexible credit loans are referred to by names such as Alt A, A- or B+ C lending. If you have had credit difficulties of any kind, there is no reason to abandon the dream of homeownership.

100% Financing:

AFMC Mortgage's goal is to expand homeownership opportunities. By offering unique products like 100% financing we can address the financial needs of homebuyers. Low down payment programs have accelerated the timeline for the average individual to purchase their first home. No longer is a 20% down payment required to make owning a home a reality. It is never too early to buy your first home. There are a wealth of programs dedicated to emerging markets and underserved communities.

Pre Commitment:

Did you know that you could apply to AFMC Mortgage for a mortgage approval even if you have not found a home yet? In fact, your pre-approval may help you in your quest to become a homeowner. Having an actual mortgage commitment in hand will greatly strengthen your bargaining position. If there are multiple offers on a particular property, your offer will stand out. You may even be able to use your commitment to negotiate a lower contract price. Very often sellers will accept a lower price if you can close quickly. Without a commitment in hand this may not be possible.

Shop and Lock:

AFMC Mortgage's shop and lock program is the perfect solution to rising interest rates. Most lenders will not let you lock-in a rate until you have a signed real estate contract. Unfortunately while your looking for the perfect home, rates may be increasing daily. As you watch rates rise you may see your dream home slipping away. Not at AFMC Mortgage.

AFMC Mortgage will allow you to lock an interest rate before you find your dream home. This may save you thousands of dollars over the life of your home mortgage. Contact us immediately to see how you can lock your rate now while shopping for your dream home.

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New York Low Home Mortgage Rates

Why waste your precious time searching, hoping to get a better rate when we're guaranteeing the lowest mortgage rates? We provide thousands of home mortgage loans to new home buyers and those seeking mortgage refinancing. Our customers are in the New Jersey, Philadelphia, Pittsburgh, and Hartford. We offer fixed rate mortgages and flexible rate mortgages, so AFMC Mortgage Mortgages should be the first mortgage lender you ask. Let us save you thousands of dollars on your first home buyers mortgage or home loan refinancing.

Copyright © 2013, AFMC Mortgage.
1 Laurel Drive, Flanders, NJ 07836. Phone: 888-321-4687 or 973-927-0400 Fax: 973-927-6750.
Licensed Mortgage Banker (B500837) - New York State Department of Financial Services
An Equal Housing Lender

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