Loan Types
RESOURCES
Types Of
Home Loans
Navigating The Mortgage Landscape.
Finding The A Better Loan For You!
Choosing a home loan is a big commitment and learning about the different types of home loans can be like learning a new language–challenging. The good news is that we have a team of experienced Home Loan Experts to answer all of your questions and will be your guide to find the right home loan for you. We’ll partner with you, and keep you informed at every stage of your home financing journey. When you are a part of the AmeriHome family, we want you to know that we are invested in your financial success today and tomorrow. Imagine the possibilities with your better home loan!
Mortgages Defined
Understanding mortgage loan types will help you to be knowledgeable and informed. When you work with our Home Loan Experts, we’ll provide customized lending solutions, helping you make decisions with honest and clear information. Let us help find the right AmeriHome loan for you today.
Loan Options
20 To 30-Year Mortgage
Ideal for homeowners looking to stay in their homes for at least five to 10 years. A 20 to 30-year mortgage has a longer loan term giving you the flexibility to have more wiggle room in your budget with a lower payment over the life of the loan.
Fixed-Rate Mortgage
A home loan with an interest rate that remains the same for the entire loan term.
- Provides long-term predictability with monthly payments
- Easier to plan your budget since the rate doesn’t change
- Gives you peace of mind in knowing the exact amount you’ll be paying on your mortgage
10 To 15-Year Mortgage
The better home loan if you want to save on interest and pay off your home sooner. With a 10 to 15-year mortgage, you keep more money in your wallet! This shorter-term option allows for optimal budget planning and an expedited path for financial growth.
Adjustable-Rate Mortgage
A home loan with an interest rate that can change throughout the life of the loan.
- Typically, the initial interest rate of an ARM is lower than a Fixed-Rate Mortgage
- Allows you to save money in the short term since there are lower monthly payments in the early stage of a loan term
- Ideal for borrowers who don’t plan on staying in their homes for a long period of time
Loan Types
Conventional Loans
A great option for borrowers with good credit.
- Get started with a down payment as low as 3%
- Higher amounts available
- No Mortgage Insurance required for loan amounts up to 80% of your home value
- Cash-out refinance available up to 80% of home value
- Rate and term available up to 95% of home value
VA Loans
Exclusive loan benefits open to active or retired military personnel, VA loans have more flexible credit requirements.
- Get started with no down payment required with approved credit
- Allows for higher debt to income ratios than conventional loans
- No mortgage insurance needed
- VA refinance and purchase solutions
- VA Interest Rate Reduction Refinance Loans available with no appraisals
Portfolio Expanded
A mortgage option with a broader set of qualifying guidelines and is designed to help those that might have previous home financing challenges. Ideal for investors, self-employed, retirees and borrowers that have little to no income but have significant assets.
- Higher loan amounts available up to $2.5 million
- Refinance and cash-out options available
- Cash-out available up to $500,000
- Primary residence, vacation homes, and investment properties
- Loans for single-family homes, condominiums, and 2-4 unit properties
- Maximum number of financed properties 20+
Debt Service Coverage Ratio (DSCR) Loans
A mortgage option ideal for real estate investors to finance residential investment properties.
- Loans up to $1 million
- 30-year fixed full and interest-only amortizations
- 15-year fixed amortization
- 5/6, 7/6 and 10/6 SOFR Adjustable Rate
- Up to $500,000 Cash-Out option
- No employment information or tax forms required
FHA Loans
A mortgage with more relaxed eligibility requirements. Enjoy easier credit qualifications and higher debt-to-income ratio flexibility.
- Get started with a down payment as low as 3.5%
- Cash-out refinance available up to 80% of home value
- Rate and term refinance available up to 97.75% home value
- FHA Streamline Refinances available with no appraisal needed
Jumbo Loans
An excellent option for financing homes that are more expensive than traditional homes or are in cities with a higher cost of living. This lending option provides additional flexibility for applicants with good to excellent credit.
- Higher loan amounts available up to $3 million
- Purchase, refinance and cash-out options available
- Cash-out available up to $500,000
- Primary residence, vacation homes, and investment properties
- Loans for single-family homes, condominiums, and 2-4 unit properties
Portfolio Express
Great for clients that pay cash for their homes.
- Up to 85% no Mortgage Insurance
- Fixed and adjustable rates available
- Ideal for high-credit established borrowers
HomeReady® & Home Possible® Loans
Great for First Time Home Buyers — these loan programs offer an easier path to homeownership and refinancing.
- Get started with a lower required down payment
- Multiple down payment sources allowed
- Lower credit score qualifications
- Wider income flexibility
- No cash-out refinancing
Your AmeriHome
Benefits!
FREE PRE-QUALIFICATION
AND PRE-APPROVAL
Your Home Buying Journey! Before you begin house hunting, get your pre-qualification in minutes to determine your budget so you can shop with confidence. Once you’ve found the home of your dreams, get your pre-approval the next business day for a specific loan amount.
FREE MORTGAGE CHECKUPS
Keeping You In The Best Home Loan! Since your mortgage needs may change over time, we’ll stay in touch to evaluate your mortgage every six months to keep you on track with your home financing needs.
Instant Rate Quote
AmeriWallet Benefits
Bonus! We are committed to being your mortgage company now and into the future. Finance the purchase of a home or refinance with us ONCE and save up to $1,000 on ALL future refinances or home purchases!
Learn More
Why Finance
With AmeriHome?
No Nonsense, No Hidden Fees, No Wasted Time.
Make a Decision About Your Mortgage With Confidence.
Safe And Secure
We protect your data while it’s at rest or in transit with a defensive in-depth cybersecurity strategy.
Transparent Pricing
What you see is what you get. We provide a clear explanation of loan costs and won’t surprise you with extra fees or hidden add-ons.
Service And Loan Assistance
Our loan officers will be there for you every step of the way, helping you find a finance package that works with your lifestyle.
No Pre-Payment Penalties
Pay off all of your debt as fast as you can, with no penalty. At AmeriHome, it’s our job to help you own your home free and clear, as fast as you can.
See What Other Customers Are Saying…
THE CUSTOMER SERVICE WAS RED CARPET
”
“
My experience with AmeriHome has been a 5 star experience all the way. Mimi Le, the loan officer, was very personable and made sure that every question that I had was answered with a smile. The assistant, Elsie Barajas, continued this experience very professionally and gracefully and the processor, Kenneth Ornelas, got me to the finish line with making sure that I was 100% satisfied. Overall the customer service was red carpet all the way. I’m glad to have worked with such professionals and friendly team. I would refer AmeriHome to my family, friends and loved ones.
~ Twana R.
HIGHLY RECOMMEND AMERIHOME MORTGAGE
”
“
What a pleasant loan process from application to signing. Loan consultant worked with me every step of the way to find the best solution for my needs, explained everything clearly, made sure everything went smooth. Highly recommend AmeriHome Mortgage. Thanks for the great service.
~ Kyle
I WILL RECOMMEND THIS COMPANY
”
“
This has been such a delightful process. The team that assisted in our Loan process was the best I have ever encountered. We were always aware of what was going on. The loan [officer] Sean Grote and his assistant Aryana Mata not only contacted us through email but also made personal phone calls to keep us informed. They made sure all our questions were answered. The processor Marie [Eliasson] that completed the loan was always available, very professional and a pleasure to work with. I will recommend this company!!!!!
~ Tina-Tim Wood
All reviews are sourced from TrustPilot.
Start Benefiting
From AmeriWallet
Our AmeriWallet program* helps our borrowers by getting them up to $1,000 dollars in savings.** That’s $500 off lender fees and up to $500 off appraisal fees! These additional money-saving benefits help get more back in YOUR wallet.** See details.
Get Started Now.
Contact your Home Loan Expert to learn more.
Your Better Home Loan…
Designed Just For You!
Be sure to give us a call to speak with one of our Home Loan Experts about your customized home finance evaluation and getting a better home loan.
Lets Get Started!
