American Fed Mortgage Mortgage Loans Review Staff

In a Nutshell

American Federal Mortgage is a privately-owned mortgage banker that focuses exclusively on mortgage loans. Founded in 1987, American Federal has been helping Americans find the best rates for their mortgages and has loaned over $15B. Today, this lender, approved by Fannie Mae, Freddie Mac, and HUD, seeks to provide the lowest rates, flexible repayment terms and easy to use services for everyone. American Federal even has a price lock guarantee.


  • Several loan programs with flexible terms
  • Lowest rates in the area for 3 decades
  • Pre-qualification possible


  • Only available in 10 states
  • No loan bundling option

American Federal Mortgage American Federal Mortgage Visit site

Loan Types: Mortgage loans, fixed-rate, adjustable-rate

Featured Loans: VA, FHA, Jumbo, Corporate Incentive programs

Repayment Terms: 15, 30 years

Minimum Down Payment: N/A

Minimum Credit Score: N/A

Best For: Borrowers looking for low rates


American Federal has a sterling reputation, backed by the strongest financial institutions in the United States. What’s more, it has been giving consumers the lowest rates consistently for more than 30 years now. American Federal proudly states that this is made possible by the fact that the company focuses exclusively on mortgage loans. This allows it to concentrate all its attention and resources on finding you the best terms and lowest mortgage rates anywhere.

American Federal Mortgage offers a wide range of mortgage programs, making it a good fit for many types of homeowners and new buyers. From fixed-rate mortgages to government-backed VA loans, there's a lot on offer from this private lender.

Best For?

American Federal Mortgage is an ideal choice for people who want clearly explained mortgage loan terms, lower rates, and a range of loan programs to choose from. For one thing, American Federal is careful to explain all terms, conditions, and industry lingo. This way, consumers understand all of their options and anything they’re signing up for.

For another thing, American Federal guarantees its low rates in writing. You’ll get a price lock guarantee, so there’s no issue of bait and switch like you can sometimes get with mortgage lenders.

Types of Loans/Products

American Federal Mortgage has a good selection of loan programs. Homeowners-to-be can choose from 15 or 30-year fixed-rate mortgage loans, adjustable-rate loans, and a variety of government loans, including FHA, VA, and Jumbo loans.

The one downside to American Federal is that it only offers mortgage programs to a very limited number of consumers. These loans are only available in ten out of the fifty states, including:

  • New Jersey
  • New York
  • Connecticut
  • Delaware
  • North Carolina
  • Massachusetts
  • Maryland
  • Pennsylvania
  • South Carolina
  • Florida

Of course, if you live in one of these states, this won’t be a problem for you.

American Federal Mortgage Loan Highlights:

  • Lowest APRs within the region
  • Wide selection of loan programs
  • Eligibility limited to ten states
  • Pre-approval
  • Equal Housing Lender

The Application Process

American Federal tries to make the application process as fast and smooth as possible. We had no trouble applying for a loan with this provider. That being said, the application process is a lot longer than some private lenders. American Federal asks you a lot of questions, including standard loan information (how much you are borrowing, what the loan is for, what type of loan you are interested in), as well as some more personal questions like marital status, date of birth, and number of dependents.

The application is definitely more in-depth than most mortgage loan providers. American Federal says this is because it wants to get as much information as possible upfront so that the underwriting process (the part that usually takes the longest) goes faster. It makes sense, just be ready for a lengthy application form.

Rates and Fees – The Bare Basics

Probably the best thing about working with American Federal is the rates. There are a lot of lenders that will take homeowners for a ride if you let them. American Federal is all about getting the lowest rates and then passing the savings to the average Joe. In that vein, American Federal is an online lender, so there’s little overhead to cover. That means it can afford to charge lower fees.

Loan rates will vary depending on several factors, including your credit score, the amount of money you are requesting to borrow, where you live, and your LTV percentage.

Repayment Terms

American Federal offers 15 and 30-year fixed-rate loans as well as adjustable-rate loans. You decide which one works best for your finances.

Help & Support

American Federal offers several ways to get in touch with its customer support. For one thing, you can send an email via the online form or pick up a phone and speak to a representative directly. Alternatively, you can use live chat, which makes getting an answer faster and easier.

Customers can also browse through the extensive help section within the website. This contains most of the commonly asked questions and answers as well as troubleshooting advice and loan term clarification.


Online contact form






How American Federal Mortgage Compares

American Federal Mortgage
On Q
Credit requirements
None specified
Minimum down payment
From 0%
Usually 3%, but zero-down options are available
DTI ratio
Origination, closing
Repayment terms
15, 30 years
10, 15, and 30-year fixed
10, 15, 20, 25, 30 years


American Federal provides homeowners with affordable mortgage loan programs. With lower rates than most in these areas, American Federal can save borrowers significantly. The loan terms are pretty agreeable, too, but you'd better check that you are living in one of the ten states that are eligible to work with this lender, or you'll be disappointed.

American Federal Mortgage American Federal Mortgage Visit site

American Fed Mortgage FAQ

Q: How can I find out if a lender is in good standing?

A: Simple. Just contact the Department of Banking to find out about a specific lender. Each mortgage lender is monitored by the DoB in their state.

Q: Is American Federal a mortgage lender or just a broker?

A: American Federal Mortgage is an official mortgage banker, aka a direct lender. That means that everything goes through this company alone. You won't be transferred to anyone else at any point during the process.

Q: Which is better, fixed, or adjustable-rate loans?

A: There’s no real way to answer that question. Which is right will depend on your financial situation, your loan needs, and other factors relevant to your specific use case. An American Federal banker can help assist you in finding the best financial solution for you.

Q: Why is pre-approval a good thing?

A: Pre-approval is beneficial for a number of reasons, including leverage when competing for a property, showing sellers that you’re serious, and helping to give homebuyers a budget to work within.

Physical Address

American Federal Mortgage Corporation

NMLS # 2756

360 Route 24

Chester, NJ 07930's editorial staff is a professional team of editors and writers with dozens of years of experience covering consumer, financial and business products and services.

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01 Dec 2020

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