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Frequently Asked Questions Why should I choose American Home Loans? It is our mission to provide a great customer service experience and to achieve the highest possible level of customer satisfaction. Find out more about the Company and how we think in our About Us section. Can I just ask someone a question? Absolutely, our customer service representatives are standing by at 1-800-967-3020, ready to answer whatever questions you may have. How has American Home Loans ensured that my information is secure? American Home Loans uses Secure Socket Technology (SSL) to ensure that your application information will not be accessed by anyone but authorized American Home Loans employees. SSL technology encrypts your data so that only the proper recipient can decode it. SSL authentication checks the identity of both the computer sending your application information and the computer receiving it, in order to prevent unauthorized people and companies from accessing your data. What is the cost to submit my loan application to American Home Loans? There is no cost to submit a loan application or to have it evaluated by American Home Loans. Once my application is approved, how soon can I get my money? You can receive your loan money in as little as 7-15 working days from the time you accept a loan offer. A big aspect of the time frame is YOU the borrower getting requested items and information to us in a timely manner. Our goal is to complete your transaction as fast as possible. How much are the closing costs? Closing costs vary depending on the type of loan transaction and the loan amount. Our closing costs are very competitive and they are always included in the loan unless you request to pay them out of pocket. They will be disclosed to you in writing of course. What are my out of pocket fees? You're only out of pocket expense is the cost to have your home appraised. Appraisals typically cost between $250.00 and $350.00 for most homes. The appraisal is not scheduled until you have been pre-approved and all terms of the loan have been disclosed to you. How will I sign the final loan documents? We will have a representative meet with you in person in your home or where ever you choose to sign the final documents. How are loan decisions made? You are approved through an evaluation of the five "Cs": Capacity to repay (e.g., your income), Creditworthiness for the money we will be lending (e.g., past history of credit repayment), Character (e.g., your desire to repay the loan), Capital (e.g., other financial reserves), and Collateral value (e.g., value of your subject property). Can you provide loans to people with poor credit? We offer loans to people with all sorts of credit. Whether you have good credit, no credit, a past bankruptcy, or the need to re-establish credit, we encourage you to apply. Can we help you if you have filed for bankruptcy recently? Yes, even if you are currently in a bankruptcy we have programs to help you with your needs. I was late on my mortgage recently. Does that mean I pay a higher rate? No! We work with very aggressive investors. We have some that still give you the lowest rates available even if you have been late on your mortgage recently. I'm SELF EMPLOYED, can I get a home loan? Absolutely, we specialize in low documentation and NO DOCUMENTATION loans. We have some of the most competitive programs available for our self-employed clients. What is a FICO score? A numerical score lenders use to determine your eligibility for credit. Most people score between 500 and 800 with 800 being the best. We have loans available that are not based on your "FICO" score. Will anyone else have access to my information? No one will have access to your personal information unless that person is involved in the evaluating, processing, funding, or servicing your loan. Will you share or sell my information? Your application information will only be used to evaluate, process, fund, or service your loan. We will not share or sell your information to any other party that is not involved in one of those activities. What if I do not want my information online? If you don't wish to enter your personal information online, pick up the phone and call us at 1-800-967-3020 and we will be delighted to assist you in gathering information or completing an application by phone. Can I get a copy of my appraisal? Of course you can! We will be happy to provide you a copy of your appraisal at no additional charge when your loan has closed. |
American Home Loans is an Equal Housing Opportunity LenderCopyright 2006 American Home Loans
16541 Gothard Street, Suite 104 Huntington Beach, CA 92647. Phone: 800-967-3020.Contact Us