Frequently Asked Questions

Mortgage rates vary according to factors such as the type of loan you are applying for, your borrower profile, and market rates.

Because that is the case, the exact mortgage rates available depend on when you are applying for a loan as well as your qualifications at that time.

During your consultation, we can help you assess what rates you would likely qualify for.

To purchase a home, you will need enough money to afford the down payment and closing costs upfront.

You also will need to be able to afford the monthly mortgage payments as well as other costs associated with homeownership.

We can take a look at your financial situation during your consultation to help you figure out what down payment you might qualify for as well as what mortgage rates you can expect. Based on those considerations, you can figure out how much home you can afford with your current income.

Homebuyers are often surprised to learn that they do not need perfect credit to purchase a home. In fact, there are programs that are aimed at borrowers without perfect credit scores, such as VA, FHA and USDA home loans.

Through these types of mortgage programs, you can qualify for low down payments and competitive rates.

These programs have other benefits as well. For example, if you qualify for a VA mortgage, you can purchase a home with zero down and no mortgage insurance.

Factors that impact the maximum amount of money you can borrow when purchasing a home include the type of mortgage, your borrower qualifications, and the loan limits when you apply.

We can give you an idea of the maximum loan amount for different mortgage products during your consultation.

Pre-qualification for a mortgage will help you answer some of the questions on this list. It is a fast and easy process that lets you know how much you may be eligible to take out with a mortgage given your financial details.

Once you are pre-qualified, you will be able to visualize and plan your future more clearly, and shop for a home that you can afford.

One of the special services we offer at American Mortgage Solutions is guidance and lending for clients who are undergoing a divorce.

In fact, at American Mortgage Solutions, you can work with a Certified Divorce Lending Professional (CDLP).

To receive this certification, a professional must undergo the divorce mortgage planning training course offered by the Divorce Lending Association to earn the CDLP Certification.

With a CDLP on your side, you can understand the ramifications your divorce will have with respect to your real estate properties, and chart a successful course forward.

American Mortgage Solutions is licensed in Florida, Kentucky, Indiana, Colorado, and Tennessee. We work with customers in communities throughout these states.