If you live in Colorado, you’ve probably heard radio commercials for “American Financing,” a direct-to-consumer mortgage lender based in Aurora. You may also know former Denver Broncos quarterback Peyton Manning
He is a fan of the company, and acts as an endorser, along with many other celebrities including Rush Limbaugh, Glenn Beck, Tommy’s Nephew, and Bobby Bones.
American Financing Facts
1. Direct-to-consumer mortgage banker headquartered in Aurora, Colorado
2. Founded in 1999 by Damian and Gabie Maldonado
3. Offering home purchase financing and loan refinancing
4. Licensed to do business in all 50 states and the District of Columbia
5. Funded more than $4 billion in home loans last year
6. 80% of the total origination volume comes from their home state of Colorado
7. Also operates an affiliated real estate broker called American Home Agent.
Applying for a Mortgage with American Financing
1. You can contact them directly to get a quote and start your application
2. Or fill out a short form on their website and wait for the loan officer to contact you
3. It’s unclear if they offer a digital mortgage process (and if so, which companies support it)
4. But they say the whole loan process is completed at home to improve accuracy and avoid delays
Loan Programs Offered by American Financing
1. Home purchase loan
2. Refinance loans (rates and terms, cash out, and streamline)
3. Conventional compliant loans supported by Fannie Mae and Freddie Mac
4. Jumbo home loans
5. Government-backed loans: FHA, USDA, and VA
6. CHFA Loans (for low-income borrowers)
7. Choose Your Term Mortgage
8. Bank statement loan
9. Reverse mortgage
10. Fixed rate and adjustable rate mortgage options are available
American Financing offers nearly every loan program a new home buyer or existing homeowner needs. However, it’s not clear if they offer new construction or home renovation loans, but there’s a good chance they at least offer the latter.
American Financing Mortgage Reviews
– On Google, they get a 4.7 out of 5-star rating from over 5,000 customer reviews.
– On Zillow, they are rated 4.92 out of 5 stars based on approximately 1,400 customer reviews.
– At Birdeye, they enjoy a 4.8 out of 5-star rating from over 1,300 reviews.
Perhaps even more surprising, America Financing has a rating of 4.85 out of 5 on the Better Business Bureau website, which is unheard of. Usually, the BBB website is where people complain, not praise the company.
Overall, they seem to consistently keep customers happy, wherever reviews are found.
Advantages and Disadvantages of American Financing
1. Offers many different loan programs
2. Licensed in 50 states and DC
3. Don’t charge upfront
4. Excellent customer reviews on all ranking websites
5. BBB accredited company with an A+ rating
1. Can’t apply without talking to someone first.
2. Don’t publish their mortgage rates.
3. It is not clear what lender fees they charge.
4. Some loan programs may not be available due to COVID-19.