American Federal Mortgage Review

ByBestmoney StaffJul.15, 2021
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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 low 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.


  • 4.93 out of 5 customer reviews
  • Lowest rates in the area for 3 decades
  • Highly experienced loan officers


  • Only available in 12 states
  • No direct realtor affiliation

American Federal Mortgage at a Glance

Loan TypesMortgage loans, fixed-rate, adjustable-rate
Featured LoansVA, FHA, Jumbo, Corporate Incentive programs
Repayment Terms15, 30 years & adjustable rates
Minimum Credit ScoreN/A
Suitable ForBorrowers looking for low rates and fees


American Federal has a sterling reputation, as evidenced by the large number and quality of their testimonials and reviews. What’s more, they have been consistently providing consumers the lowest rates and fees available in the industry for more than 32 years. American Federal proudly states that this is made possible by the fact that the company focuses exclusively on mortgage loans and always invests in the most up to date technology for their borrowers. This allows them to concentrate all their attention and resources on delivering the consumer the most competitive terms and lowest mortgage rates available anywhere. American Federal Mortgage offers a wide range of mortgage programs, making it a good fit for many types of homeowners including first time buyers. From fixed-rate mortgages to government-backed VA and FHA loans, there's a lot to offer from this private mortgage banker.

Suitable For?

American Federal Mortgage is an ideal choice for people who want the lowest rates and fees delivered in an honest and transparent method. If you are shopping for the lowest mortgage rate available and do not want to sacrifice customer service to get it, this is the lender for you. They make the mortgage process the way it should be, simple, honest and secure. All of their mortgage rates are guaranteed in writing, insuring the rate you are quoted is the rate you close at. Clients can complete the entire loan process online using their industry leading technology while also being able to rely on one of American Federal’s seasoned loan officers to provide guidance and answer questions. The loan officer’s only goal is to insure your mortgage experience is as clear and easy as possible.

Types of Loans/Products

American Federal Mortgage has a vast 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 portion of the US market. These loans are only available in twelve out of the fifty states, including:

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

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

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’s industry leading technology makes the loan application and approval process simple, fast and secure. Their online application takes on average only 10 minutes to complete. Direct interfaces with employers, payroll providers and online banking platforms eliminates multiple requests for borrowers to provide documentation, and their easy to use online platform gives customers the ability to easily identify where they are at in the loan process. Another added benefit is that many of their mortgage loans qualify for an appraisal waiver. All of this combines for a smooth process to allow American Federal to provide faster approvals and quicker closings then their competition.

Rates and Fees – The Bare Basics

There are very few privately held mortgage bankers that are 32 years strong, and to do so you need to provide outstanding rates and customer service. For over thirty two years American Federal Mortgage has prided itself with providing customers with the lowest rates available in the industry backed by honest, guaranteed in-writing lock-in agreements. This is the way mortgages should be. No baiting and switching, no gimmicks, simply the most competitive rates you will find anywhere in the nation. How can their rates be so low? It’s simple. Their central processing location, streamlined process and emphasis on technology allow American Federal to keep their overhead down and give the savings back to the clients in the form of an ultra-low rate. They don’t spend the customer’s money on a huge marketing budget, instead they allow the rates and reviews to speak for themselves.

Repayment Terms

American Federal offers 15 and, 30-year fixed-rate loans as well as a variety of adjustable-rate options. Their experienced loan team helps to customize and decide which program works for each individual customer.

Help & Support

American Federal offers several ways to get in touch with their experienced loan team. Visit their website at or call them directly at 88-321-4687. Alternatively, you can use their live chat feature, which links directly to a licensed loan officer, and makes getting an answer fast and easy. 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 definitions.


Online contact form






How American Federal Mortgage Compares

American Federal MortgageLowRatesOn Q
Credit requirementsNone specified620580
Minimum down paymentAs low as 0%From 0%Usually 3%, but zero-down options are available
DTI ratio50%43%N/A
FeesNo lender feesOrigination, closingOrigination
Repayment terms15 and 30 years10, 15, and 30-year fixed10, 15, 20, 25, 30 years


American Federal provides homeowners with aggressively priced mortgage loans. With lower rates and fees than the competition, American Federal can save borrowers significantly over the life of the loan. Let our 32 years of lending experience and industry leading customer service work for you.

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 right 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

Visit American Fed Mortgage

AboutAmerican Federal Mortgage