Save money on your mortgage!

Would you like to save up to $500 on your mortgage? Well, employees of Goldman, Sachs; Mt. Sinai Hospital system; Northwell Health; and many other companies save this much and more. How do employees save money on their mortgage? By being a part of Amerifund Home Mortgage’s Corporate Affinity program. That’s right — if your…

80/10 Loan Pros and Cons

Are you thinking of buying a house? Do you have less than 20% to put down? Then you might consider taking an 80/10 loan or two loans that add up to 90%. What is an 80/10 loan? An 80/10 loan is where you take out two loans that add up to 90%. Why wouldn’t you…

Getting divorced? Need to refinance?

Are you getting divorced? This is a stressful time, but one that will result in both you and your partner being happier in the long run. If you’ve owned property together, one of you may need to refinance to get the other person off title. Here are three things to consider: Will lenders call your…

Mortgage Lender with Lowest Rates

Amerifund Home Mortgage is a mortgage lender with the lowest mortgage rates available. Our experienced loan officers spend time understanding your specific loan request. Before they quote you a rate, they do their best to make sure you meet underwriting guidelines. Otherwise, you could waste time and money. At Amerifund, we pride ourselves on finding…

What is a no income check mortgage loan?

A no income check mortgage loan is a loan where the lender does not require the borrower to verify their income. These type of loans (sometimes called “liar loans”) used to be readily available. Lenders didn’t require borrowers to supply any documentation about their income. You could be a bus driver making $40,000 a year,…

Debt Service Coverage Ratio

What is Debt Service Coverage Ratio? Debt Service Coverage Ratio or DSCR is a ratio underwriters use for mortgages on investment property to determine if the property can carry the mortgage debt and other expenses associated with owning and operating the property. Why is DSCR important? Lenders often determine whether or not to lend money…

What is a Cash Out Refinance?

Definition of a Cash Out Refinance You want to renovate your home. You sit down with your lender and he says “you need to do a cash out refinance.” Why? How does that work? And what are your options? Let’s say you own your own home. You owe $300,000 on your mortgage. Your house is…

New loan limits save you money!

Effective Jan 1 2019, the Federal Housing Finance Agency announced new loan limits for almost every part of the country for both conventional and FHA loans. These new loan limits save you money on your mortgage! Are you thinking about buying a house in 2019? Or are you considering refinancing your mortgage, either to save…