Does anyone have any experience working with American Home Mortgage?
Written By: admin on June 14, 2009
One Comment
We are thisclose to buying a house from a developer, but we have to use their preferred lender to get the deal they are offering. The lender is American Home Mortgage. I don't know what kind of reputation they have….does anyone have any first-hand knowledge of what they are like?
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Tags: american home mortgage, american mortgage, buying a house, hand knowledge, preferred lender, reputationTags: american home mortgage, buying a house, hand knowledge, preferred lender, reputation
Yes. They are a typical builder's mortgage company. You were probably offered a reasonable interest rate and low lender's fees, but exorbitant title fees. The builder owns the title company also. In many states it is illegal for a builder to offer a special incentive to use a particular mortgage company and/or title company. But if your builder insists on using American Home Mortgage, at least protect yourself by demanding to use a neutral title company. In Texas, it is illegal for the seller to specify a title company. Excellent luck.
Rick
http://www.fairwaymortgagelending.com