Equity Loans
This is an interest-only mortgage loan that is borrowed against your home's equity, typically at 90% of the value. The borrower can apply any surplus funds to the outstanding loan principal at any time, reducing the amount of interest calculated from that day onward. It also provides the client with a reusable line of credit that in most cases can be a tax deduction.
203K/Streamline/Rehab Loans
Administered through an FHA approved lending institution, these loans are used for the rehab and repair of single family properties. The 203K addresses the problem of finding interim financing to purchase a property by offering one loan for acquisitions and rehabilitation of a property instead of a series of loans. The loan allows you to include certain repairs into your mortgage by using a post-repair value for the basis of the mortgage calculations.
Jumbo Financing
These loans are for amounts that go above typical loan limits. These special loans are made for high value homes, with mortgage amounts over $417,000.
Reverse Mortgages
These are mortgages for senior citizens who would like to safely tap into their equity. They actually receive a monthly check as opposed to paying for a mortgage.
Joe Cuttone, President
American Fidelity Mortgage Services Inc
4200 Commerce Court, Suite 200, Lisle, IL 60532
Direct: (630) 681-1010 Ext. 118
Copyright © 2012 American Fidelity Mortgage Services Inc
Illinois Mortgage Licensee License # MB 0000303
Indiana Department of Financial Institutions (DFI) License ID Number 11229
American Fidelity Mortgage Services, Inc. also does business
as A&M Mortgage Group, Inc. in the State of Indiana
State of Wisconsin - Department of Financial Institutions License #159BA
In the State of Illinois Mortgage Bankers are governed by:
L Department of Financial & Professional Regulation Division of Banking
122 South Michigan Ave., Suite 1900 Chicago, IL 60603
Phone: (312) 793-3000
Fax: (312) 793-7097
Web: http://www.idfpr.com/default.asp
Toll Free Consumer Hot Line: (877)-793-3470
