There are many types of loans available. At AmWest Funding Corp, we want your finding the right loan to be a positive experience.


Conventional Loans

AmWest Funding Corp offers access to variety of conventional loan programs designed to meet a range of home financing needs. These programs may offer competitive rates and flexible terms for qualified borrowers.

Features:
  • Loan Amount Limits (may vary by county, loan program, and property type)
    • 1 unit property to $806,500 (Agency), $1,208,750 (Agency High-Cost areas) or $3,000,000 (non-Agency)
    • 2 unit property to $1,032,650 (Agency), $1,548,975 (Agency High-Cost areas) or $3,000,000 (non-Agency)
    • 3 unit property to $1,248,150 (Agency), $1,872,225 (Agency High-Cost areas) or $3,000,000 (non-Agency)
    • 4 unit property to $1,551,250 (Agency), $2,326,875 (Agency High-Cost areas) or $3,000,000 (non-Agency)
Available Terms:
  • Fixed Rate Mortgages
    • Consistent monthly principal and interest payments
    • May offer long-term predictability for borrowers who plan to stay in their home long term
    • Shorter repayment term fixed rate mortgages are typically offered at lower rates.
    • Short term, temporary reductions in mortgage payments may also be available.
  • Adjustable Rate Mortgages
    • Typically offered at a lower interest rate and monthly payment than fixed rate mortgages.
    • Interest rate typically fixed for a number of years after closing before the adjustments start.
    • May offer advantages for a borrower who does not plan to stay in their home long term.

Refinance Considerations
  • A fixed-rate mortgage may be owrth exploring if:
    • You current mortgage interest rate is higher than current market rates
    • You have an adjustable-rate mortgage and prefer the stability of a fixed rate

Jumbo Loans

A Jumbo Loan is a type of mortgage designed for borrowers who need financing that exceeds the Agency loan limits set by Fannie Mae and Freddie Mac. These limits vary by county and property type and are subject to annual adjustments.

Key Highlights (subject to qualification):
  • Loan amounts generally starting above Agency loan limits and up to $3,000,000.
  • Higher loan to values eligible than other non-Agency loan programs.
  • Private Mortgage Insurance may not be required.
Eligible Property Types:
  • Available for 1 unit primary, secondary, or investment property transactions.
  • Available for 2 unit primary or investment property transactions.

FHA Loans

Federal Housing Administration (FHA) loans, insured by the U.S. Department of Housing and Urban Development (HUD), are designed to help make homeownership more accessible - particulary for first-time buyers or those less-than-perfect credit or limited savings.
AmWest Funding Corp offers access to FHA loan programs with flexible guidelines that may be borrowers who might not qualify for conventional financing.

Key Features (subject to qualification):
  • May allow for lower credit score consideration
  • Designed for owner-occupied primary residences
  • Fixed-rate terms available up to 30 years
  • Down payments as low as 3.5% (minimum credit score and program guidelines apply)
  • 100% of the down payment and closing costs may be gifted from eligible sources
  • No prepayment penalties
  • May allow for refinancing with limited equity
  • Non-occupant co-borrowers may be permitted
Recent Program Update:

The federal government recently announced a reduction in Mortgage Insurance Premiums (MIP) on FHA loans. This may result in lower monthly payments or increased purchasing power for eligible borrowers.

Please Note: Program changes are subject to update and availability. Contact a licensed loan officer for the latest details.
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