AMC Mortgage is a direct lender, which means that they have lower rates because they cut out the middleman. They have a wide variety of loans, yet are a small enough business to deal with their customers on a personal basis. Their general manager, John Councilman, just won the first Mortgage Broker of the Year Award. AMC Mortgage was founded in 1985.
AMC Mortgage operates at a high ethical standard. They inform you of the rates, closings costs and fees they will charge you up front. They have a flawless record when it comes to mortgage fraud and misrepresentation. Their motto is, “If it makes sense, we’ll do it.”
AMC Low Rate Guarantee
AMC Mortgage has a low rate guarantee. If you submit an application to AMC Mortgage, and within twenty-four hours of that submission you receive a written rate offer that is lower than the one AMC Mortgage offered you, notify AMC immediately. If you notify them within that initial twenty-four hour period, AMC will either match the loan rate stated by the other lender, or they will send you one hundred dollars when you close with the other lender. The choice is AMC’s, and the guarantee only applies to first mortgage loans.
AMC Mortgage Loan Options
AMC Mortgage provides lenders with all kinds of mortgage products. For Home Purchases, they offer Conventional mortgages such as Freddie Mac and Fannies Mae. They offer FHA loans, and VA loans for veterans. They offer no money down mortgages, even for first time homebuyers, people with less tan perfect credit, or people with no documentation income. They offer 90% financing for Lot Loans, and unlike most lenders AMC Mortgage will even give mortgages for waterfront properties. They offer mortgages for farms and ranches, and mixed properties (ex. half residence, half store).
AMC Mortgage also has mortgage programs for Residential Rental Properties. They have a low interest, Fixed Rate, Thirty Year mortgages that are only one half of a percent higher than a regular Fixed Rate, Thirty Year homeowner loan. They offer 95% of the value of the property without PMI insurance. This offer applies to both rental homes, and apartment complexes, and you can get a Residential Rental Property even if you don’t have A+ credit.
AMC Mortgage is an excellent alternative to Fannie Mae. If you just miss Fannie Mae qualifications, you can apply for AMC’s Alt “A” program. The rates are a tad higher than Fannie Mae, but are much less than other lender’s rates.
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