It’s not every day you come across a large-scale independent mortgage lender that has been around since the 1980s, but Amerifirst Financial Inc. fits that description.
The Arizona-based company understands that there’s more to the mortgage business than just refinances, which is why their goal is to be the lender of choice for real estate professionals in all the markets they serve.
This could be a pretty smart strategy if and when interest rates rise and the pool of eligible refinance candidates begins to run dry.
If you’re thinking about buying a home, Amerifirst could be good choice for your financing needs since they’re heavily focused on purchase loans. Let’s discover more about them.
Amerifirst Financial Fast Facts
- Direct-to-consumer retail mortgage lender
- Founded in 1989, headquartered Mesa, Arizona
- Offers home purchase financing and mortgage refinances
- Funded more than $2 billion in home loans last year
- Most active in Arizona, Colorado, and California
- Licensed to do business in 43 states and the District of Columbia
- Also operate several DBAs including AFI Mortgage, Spire Financial, and Truly Mortgage
Amerifirst Financial Inc. is a direct-to-consumer retail mortgage lender, meaning they operate a call center along with branches throughout the country.
The company was founded all the way back in 1989 and is headquartered in Mesa, Arizona, which is just east of Phoenix.
They also have branches in nine states, including Arizona, California, Colorado, Florida, Mississippi, Nevada, Oregon, Texas, and Utah.
Amerifirst appears to specialize in home purchase financing, with roughly two-thirds of total volume dedicated to home buyers.
The rest can be attributed to mortgage refinances, including rate and term refinances and cash out refinances.
Last year, the company funded more than $2 billion in home loans, with nearly a billion in their home state of Arizona.
They’re also very active in Colorado and California, and have a decent presence in Nevada and Texas as well.
While they’re licensed in most states nationally, they don’t seem to be available in Delaware, Hawaii, Maine, New York, Rhode Island, Vermont, or West Virginia.
How to Apply with Amerifirst Financial
- You can get started instantly by visiting their website and clicking “Apply Now”
- They offer a digital mortgage application powered by ICE that lets you complete most tasks on your own
- It’s also possible to browse their online loan officer (or branch) directory first to find someone to work with nearby
- Once your loan is submitted you can manage it 24/7 via the online borrower portal
Amerifirst Financial makes it super easy to get started on your home loan application.
Simply head to their website and click on the big “Apply Now” button and you’ll be off to the races.
That will take you to their digital mortgage application powered by ICE that lets you input all your personal and financial details electronically.
Then you can link financial accounts using your credentials to avoid having to scan/upload or track down your documents.
Additionally, you can order your own credit report and eSign disclosures to speed through the more painstaking part of the process in a matter of minutes.
Once your loan is submitted and approved, you’ll receive a to-do list with any conditions that must be met to get to the finish line.
You’ll also be able to track and manage your loan via the online borrower portal, and get in touch with your lending team if and when you have questions.
Those who prefer a more human touch can also visit a local branch and/or browse the online loan officer directory to learn more about the individuals who work there.
It may also be advisable to speak with a loan officer first to discuss loan pricing and available loan programs, then proceed to the online mortgage application.
In any case, they make it really simple to apply for a mortgage and manage your loan from start to finish thanks to the latest technology.
Protect Your Transaction Pre-Approval for Home Buyers
One perk to using Amerifirst Financial, especially if you’re buying a home in a competitive market, is their “Protect Your Transaction” loan commitment.
It goes beyond both a pre-qualification and pre-approval in that it’s underwritten upfront by a real human loan underwriter.
In fact, the PYT even comes with monetary assurance (up to $15,000, with an additional $5,000 for first responders and teachers), which represents their belief in the strength of your application.
So if the loan falls through and it turns out to be the lender’s fault, you could be entitled to that cash, which can also be shared with the seller. This may strengthen your offer.
Next to a cash offer, they believe it provides the greatest assurance that they can provide financing for your home purchase.
And that could just be enough to give you edge versus other home buyers on a hot home.
It may also give you peace of mind in the process, knowing you can actually get financing when all is said and done.
Loan Programs Offered by Amerifirst Financial
- Home purchase loans
- Refinance loans: rate and term, cash out, streamline
- Conforming home loans
- High-balance and jumbo home loans
- FHA/USDA/VA loans
- Down payment assistance
- Green Value Mortgage
- Fixed-rate and adjustable-rate options available
Amerifirst Financial offers both home purchase loans and refinance loans, including rate and term, cash out, and streamline refinances.
You can get financing on a primary residence, including townhomes/condos, along with a vacation home or 1-4 unit investment property.
They offer all the popular loan types, including conforming loans backed by Fannie Mae and Freddie Mac, high-balance and jumbo loans, and government-backed options like FHA, USDA, and VA loans.
They also offer an exclusive loan program known as the “Green Value Mortgage” that offers a reduced interest rate, fees, and discounted mortgage insurance if your property has a green score of 75 or lower.
You may also be eligible to receive up to 3.5% of the purchase price as a non-repayable gift. All the more reason to go green!
In terms of loan programs, you can get either a fixed-rate mortgage such as a 30-year or 15-year fixed, or an adjustable-rate mortgage like a 7/1 or 5/1 ARM.
Amerifirst Financial Mortgage Rates
One slight negative to Amerifirst Financial is the fact that they don’t mention their mortgage rates anywhere on their website.
As such, we don’t have any clues about their loan pricing relative to other banks and lenders out there.
The same goes for lender fees, which aren’t clearly listed on their website to my knowledge.
This means you’ll need to get in touch with a loan officer to discuss rates and fees to ensure they are competitively priced.
Be sure to compare their rates/fees with other lenders before you proceed to the application if you want peace of mind on pricing front.
Customer service and competence is always important, especially when it comes to a home loan, but so is cost.
Amerifirst Financial Reviews
On Zillow, Amerifirst has a very impressive 4.98-star rating out of 5 from roughly 900 customer reviews, which is quite impressive given the volume of feedback.
On LendingTree, they have a perfect 5-star rating, though it’s based on just about 30 reviews. They also have a 100% recommended score there.
If you’re looking for more reviews, you can also check out local ones on Google for their brick-and-mortar branches nearest you.
Lastly, the company is Better Business Bureau accredited, and has been since 2014. They currently enjoy an ‘A+’ rating based on complaint history.
To sum it up, Amerifirst Financial could be a solid choice for someone purchasing a home (especially a first-time buyer) thanks to their robust Protect Your Transaction loan approval and variety of down payment assistance programs.
Amerifirst Financial Pros and Cons
The Good
- You can apply for a home loan from any device in minutes
- Offer a digital mortgage application powered by ICE
- Lots of loan programs to choose from
- Discounts for those who purchase a green home
- Protect Your Transaction loan approval for home buyers
- Excellent customer reviews from former customers
- A+ BBB rating, accredited business since 2014
- Free mortgage calculators and mortgage dictionary on site
The Not
- Not available in all states currently
- Do not list mortgage rates or lender fees on their website
(photo: nathanmac87)
