American Pacific Mortgage – Loan Types and Process

American Pacific Mortgage takes personal ownership in the process of originating home loans that will make your dream of ownership a reality.

American Pacific Mortgage Top Priority

  • Exceptional Customer service
  • Competitive Mortgage rates
  • Unwavering commitment to ensure you get to the finish line
  • Superior Loan Processing times.
  • High quality standards
  • Strong loan performance
  • Fast transaction process and efficiency.

American Pacific Loan Process

  • Get Pre-Approved
  • Loan Application
  • Select your Loan Program
  • Processing and Underwriting
  • Loan Approval
  • Close the Loan

Mortgage Options

  • Fixed Rate Mortgage: this is best for a stable monthly interest rate and payment over the life if your loan.

Fixed Rate Mortgage

  • Certainty: with fixed rate mortgage you can be resting assured that nothing will cause your rates and payment to rise even if interest rates begins to fluctuate.
  • Consistency: your principal and interest payment will be consistent and reliable even if your property taxes and homeowner’s insurance change over the years.
  • Choice: you have the freedom to choose either a 15-year or 30-year fixed rate loan that works for your financial goals.

15-year Fixed: this is a terrific option when you prefer higher monthly payment in exchange for paying less in interest.

  1. A fixed interest rate that allows you to pay principal down faster than the 30-year fixed.
  2. Pay higher monthly payment in order to pay less in total interest over the life of loan.
  3. Interest rate are typically lower than 30-year fixed.

30-Year Fixed: this is great option when you want peace of mind of stable monthly payments to reach your long-term financial goals.

  1.  Build equity over time and pay principal balance down faster whenever you choose
  2. This is the most popular mortgage loan program
  3.  A stable interest rate and reliable monthly payments over the life of your loan.

Adjustable Mortgage Rate (ARM)

The ARM mortgage offers a low introductory fixed rate term for a period of 5, 7 or 10-year.

  • Interest Only Loan: this allows you paying the full monthly interest due on your loan for the fixed period of the loan which ranges from 5 to 10 years.
  • Reverse Mortgage: this gives you access to The equity that you have built up in your home over the years through principal payments, appreciation and your down payment.

People qualified for this Reverse Mortgage are those 62 years or older and own a home.

You can receive this equity TAX FREE to use in the following order however you want.

  • Vacation or travel
  • Home repairs
  • Medical bills
  • Investments
  • Retirement funding

Loan Types

  • Jumbo Loans
  • FHA Loans
  • VA Loan
  • USDA Loan

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