American Federal Mortgage (condo, good credit, loans) - New Jersey (NJ) - City-Data Forum

Eric2009 · 03-02-2009, 01:57 PM

Hi

I got some recommendation from this forum that American Federal Mortgage in Flanders has a low rate (beolow 5%) and low closing cost.
I would like to hear from people who got their mortgage through American Federal Mortgage recently. how was the experience? how long it takes to get the mortgage? any input will be helful.
I have good credit, looking for finance my first home with 20% down at fixed rate 30 years.

Thank you,

wileynj · 03-02-2009, 02:37 PM

Quote:

Originally Posted by Eric2009

Hi

I got some recommendation from this forum that American Federal Mortgage in Flanders has a low rate (beolow 5%) and low closing cost.
I would like to hear from people who got their mortgage through American Federal Mortgage recently. how was the experience? how long it takes to get the mortgage? any input will be helful.
I have good credit, looking for finance my first home with 20% down at fixed rate 30 years.

Thank you,

I used them recently... sold, purchased and closed on both within 30 days! I ended up with 6% which was lower than everyone else at the time. Their fees totalled $750.00. Everything they promised, they adhered to. They are also owned by a title company which also helped in speeding up the loan process/closing process.

JC JC Mom · 03-03-2009, 09:03 AM

Thats the company I used and at the time they were the lowest around and it was a speedy and thankfully my loan officer was wonderful I asked a million and one questions and each and every time there was a timely and well informed answer... I would recommend. The whole process took about 30 days as well - Good Luck

tahiti · 03-03-2009, 09:44 AM

i'm the process right now and have no complaints. rates and fees lower than competition. loan officer is really nice. i also referred a friend and she's happy so far too (she did a lot of research as well).

Eric2009 · 03-03-2009, 12:08 PM

Quote:

Originally Posted by tahiti

i'm the process right now and have no complaints. rates and fees lower than competition. loan officer is really nice. i also referred a friend and she's happy so far too (she did a lot of research as well).

Hi,

I called them today, but the rate that they gave me is a little higher
(5.37 %) than the one that i got from wells fargo (5%) . i am applying for 30 years fixed. Also they were asking me for a refferal, do i need asomeone's name to get a good rate?

Thanks,

hobodbf · 04-10-2009, 01:24 PM

I'm looking for a pre-approval now. Can any of you recommend a loan officer at AMF who you were happy with? Thanks!

Eric2009 · 04-10-2009, 08:54 PM

Quote:

Originally Posted by hobodbf

I'm looking for a pre-approval now. Can any of you recommend a loan officer at AMF who you were happy with? Thanks!

I applied for a mortgage there, Richard Ramaci is the one i contacted, no complains.

Good luck

joe moving · 04-11-2009, 05:43 AM

I didn't use them because the guy there did not believe that my rate (which was obviously lower than theirs) was legit.

It was. we use Untitled Document 2x with success. A local (NJ) based no fee broker.

jeens · 06-26-2009, 05:51 AM

These guys do not verify anything till a day before closing. My closing had to be postponed - with a higher rate than the GFE (never a good faith atleast in my case) - locked in for 4.623x and closing for 4.75. I am not sure at this point they have any more to come up with but as of now this is what it is. They did the appraisal and approved my loan, then they came back and said that though my home is built in townhouse style the Homeowner association has been registered as Condo - Condo's have a increased interest bracket than townhomes and they claimed it's my fault where in nowhere in the application I mentioned mine was a townhome (just the property address) My closing is not done yet - appraisal was done early june, takes a very long time to close and then last minute surprises to rack in more money - I would not recommend this company to anyone - I am paying $1000 more than GFE - a cent more surprise would make me hire an attorney to deal with these guys. DO NOT GO WITH THESE GUYS UNLESS YOU HAVE ALL THE BASE TO COVER YOU. I am stuck because of the current higher mortgage rates

gagaliya · 06-26-2009, 07:55 AM

can you clarify. Is the $1000 increase from your higher interest rate, or do you mean those guys added more charges to the closing cost?

I was thinking about going with them, they were bragging about the guarenteed closing cost.

thanks