Refinance Programs
Find the right program for you
Refinance Programs
Finding the right type of program that meets your needs can be overwhelming. You need to compare different loan products, rates, down-payment requirements, and eligibility requirements so you can make an informed decision about a major purchase.
American Mortgage makes things easier by providing key information on a variety of loan products you need up front. Whether you’re a first time homebuyer, real estate investor, or looking to buy a second home, choose from a variety of home loan products designed for your particular situation.
At AMS, We pride ourselves keeping our Realtors and buyers updated and well-informed throughout the closing process. We do not operate by banker’s hours; we are here to answer our clients calls and questions 24/7. We get it closed!
What We Offer at AMS
Streamline Refinances
At AMS a streamline refinance is available to homeowners who already have insured mortgages. To qualify for a streamline refinance the borrower must show there will be a net tangible benefit to doing so. The program offers a lower-hassle way to refinance the mortgage, including not requiring an appraisal. The borrower cannot be delinquent on their current mortgage and no more than $500 can be taken out of the refinance mortgage.
Rate / Term Refinance
A rate and term refinance is a type of refinancing that allows you to change the terms of your current loan and replace them with terms that are more favorable for you. You get a new loan, pay off your old mortgage and then make payments toward your new loan when you refinance. A rate and term refinance can give you more or less time to pay off your loan, a lower interest rate or a different monthly payment. Some lenders refer to rate and term refinances as regular refinances.
Cash Out Refinance
Cash-out refinancing replaces your current home loan with a bigger mortgage, allowing you to take advantage of the equity you’ve built up in your home and access the difference between the two mortgages (your current one and the new one) in cash. The cash can go toward virtually any purpose, such as home remodeling, consolidating high-interest debt or other financial goals.
IRRRL’s (VA)
A VA IRRRL is a mortgage refinance option for Veterans with an existing VA loan. The IRRRL allows homeowners to refinance an existing VA loan to a new VA loan with a lower interest rate or convert a VA loan from an adjustable to fixed-rate.
It’s often called a VA streamline because it generally requires less paperwork and is faster than a typical refinance.
Why Choose Us?
- Experience – We put our 40+ years of combined experience in the Mortgage industry to work for YOU!
- Loan Programs – We have more loan options available than banks, credit unions and most direct lenders.
- Low Rates – We shop our expansive book of lenders to find the best rate for your unique needs!
- Fees – As a wholesale mortgage broker, we are able to charge less fees than most competitors.
- Communication – Our knowledgeable team members are easily accessible to answer your questions and to update you and your realtor throughout the process of your loan.
