This is a list of some of the programs offered by American Mortgage Resources.  There are many other programs available.  If there is a program of interest that you do not see on this list, please contact us for more information.

CONVENTIONAL

JUMBO LOANS

NO DOWN PAYMENT

103% PURCHASE

80/20-80/15/5

SUB-PRIME LOANS

HOME EQUITY LINE OF CREDIT

2ND MORTGAGE LOANS

CONSTRUCTION LOANS

INVESTOR LOANS

NO DOCUMENT LOANS

CONVENTIONAL - Traditional loan programs that usually require 5% down and offer competitive interest rates. Documentation and fair-to-good credit are necessary. Loan amounts up to $417,000

JUMBO LOANS - Offers 30 and 15 year fixed rate mortgage and competitive ARM products with full document, alternate documentation and limited documentation.Cash out and No cash out refinance are allowable.  Single family detached, Condo's, PUD's and single-family second homes can be financed with no prepayment penalty.  Loan amounts up to $1,500,000

NO DOWN PAYMENT - 0% Down payment required and closing costs paid by the borrower (seller can contribute up to 6% towards closing costs).

103% PURCHASE – 0% Down payment required and closing costs can be financed up to 103% of the purchase price. Only single-family homes that will be owner-occupied are eligible. First time homebuyer status not required and there are no income limits.

 80/20-80/15/5 - This is a loan which carries a second mortgage for up to 20% of the purchase price of the property. It is usually used when wishing to avoid Mortgage insurance or to keep your first mortgage under the conforming loan limit to avoid Jumbo rates. The borrower puts down a 5% down payment and then finances a first mortgage up to the conforming loan limit and a second mortgage of up to 15% of the purchase price. Other variations are 80/10/10 or 75/15/5.

SUB-PRIME  LOANS -  These mortgages are for the credit challenged. They can vary from slightly damaged credit to severely damaged. Whatever the situation we have a mortgage that will get you back on track.

 HOME EQUITY LINE OF CREDIT   -  This is a revolving line of credit that can be used for home improvement, debt consolidation or many other reasons. 

 2ND MORTGAGE LOANS - Subordinate to the first mortgage these loans offer the borrower the ability to get money for home improvement, debt consolidation or many other reasons without disturbing their first mortgage. Convenient when you have a low interest first mortgage.

 CONSTRUCTION LOANS – We offer a hassle free construction perm loan, which provides for a one time closing prior to ground breaking and automatically converts to permanent financing upon completion.  Available on fixed rate and ARM products.

 INVESTOR LOANS - Used to finance 1-4 family properties that will be for investment with as little as a 5% down payment. Aggressively priced these programs have many variations such as No Doc, Limited Doc and Full Doc.

 NO DOCUMENT LOAN - Loans where your income is not requested or verified with as little as 10% down are stated income loans.  There are several varieties of the "no-doc" loan today. The type of loan that is best suited for a particular borrower depends on that borrower's situation. Some borrowers choose not to disclose employment, income, or asset information, while others may be willing to disclose employment and asset information but not income. Still others might be willing to disclose income but select a program that doesn't calculate debt-to-income ratios, allowing those borrowers to exceed the traditional guidelines in order to qualify for a larger mortgage amount. With all the different variations of the no-doc loan, there is definitely a mortgage program for today's non-conventional borrowers.