It is Finance of America's policy and expectation that every loan applicant will first be considered for conforming conventional loan programs or government loan programs, where available, unless the applicant requests consideration of other programs. In addition an alternative loan product may be offered or recommended based upon the applicant's credit history and the interest rate desired, as well as the terms and conditions of the loan. Finance of America may engage in advertising campaigns or targeted solicitations with respect to alternative loans.
In addition to maintaining compliance with applicable fair housing laws and regulations, Finance of America is committed to taking a leadership role in the lending community, by supporting affordable housing programs which benefit our communities and contribute towards helping people finance their home ownership dreams. We realize that participating in such programs not only benefits society as a whole but contributes to the continued viability and financial well being of Finance of America.
Finance of America is committed to maintaining a work environment that is free from discrimination and encourages fair lending.
What this means for you: When you obtain a mortgage loan, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.
Finance of America takes your online privacy seriously. This disclosure is one way of maintaining your trust in our company, our products and services. Our privacy statement describes how we collect, utilize and protect information about you during your visit on our web site.
Also, if you choose to share any personal information with us, we may store it and use it for our own marketing research and the marketing of our products and services to you.
When you visit our site, we may collect and store information about your visit. This information may include the time and length of your visit, the pages you view on our site, the last site you visited before coming to ours, and the name of your internet service provider. We use this data on an aggregate basis to measure site activity, and on an individual basis to make the site more useful and provide information that may be of interest to you.
Any company with which we share information about you for the above purposes is contractually required to comply with confidentiality standards. We may disclose information about you as required or permitted by law. We do not sell information about you to anyone.
If you are a current customer, you may be able to update information such as: your address, telephone number and email address. You may contact us in order to do so.
If you have completed and saved, but have not submitted, an online form or application you may be able to make certain changes to the information you have provided to us before it is submitted. If you are unable to make changes to the information you have provided to us online, you may contact us in order to do so.
For Vermont Residents: In accordance with Vermont law, we will not share information we collect about you with nonaffiliated third parties, except as permitted by law. For example, we may share information with your consent or as necessary to service or process a financial product or service that you request or authorize. We will not share information about your creditworthiness with our affiliates except with your authorization or consent.
The information and services offered on this Site are provided with the understanding that neither Finance of America, nor its suppliers or users are engaged in rendering legal or other professional services or advice. Your use of the Site is subject to the additional disclaimers and caveats that may appear throughout the Site.
Finance of America and its agents assume no responsibility for any consequence relating directly or indirectly to any action or inaction that you take based on the information, services or other material on this Site. While Finance of America and its suppliers, strive to keep the information on this Site accurate, complete and up-to-date, Finance of America, and its suppliers cannot guarantee, and will not be responsible for any damage or loss related to, the accuracy, completeness or timeliness of the information.
Copyright Finance of America Mortgage, 2006. All rights reserved. Reproduction, distribution, or transmission of the copyrighted materials contained within this Site is strictly prohibited without the express written permission of Finance of America.
THE INFORMATION, SOFTWARE, PRODUCTS, AND SERVICES PUBLISHED ON THIS SITE MAY INCLUDE INACCURACIES OR TYPOGRAPHICAL ERRORS. CHANGES ARE PERIODICALLY ADDED TO THE INFORMATION HEREIN. Finance of America, ITS AFFILIATES AND/OR ITS RESPECTIVE SUPPLIERS MAY WITHOUT PRIOR NOTICE MAKE IMPROVEMENTS AND/OR CHANGES IN THIS SITE INCLUDING BUT NOT LIMITED TO THE INFORMATION, SERVICES, PRODUCTS OR OTHER MATERIAL AT ANY TIME. ALL INFORMATION, PRODUCTS, AND SERVICES ARE PROVIDED "AS IS" WITHOUT WARRANTY OF ANY KIND. IN NO EVENT SHALL Finance of America, ITS AFFILIATES AND/OR ITS SUPPLIERS BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE USE OF THIS SITE OR WITH THE DELAY OR INABILITY TO USE THIS SITE, OR FOR ANY INFORMATION, PRODUCTS, MATERIAL AND/OR SERVICES OBTAINED THROUGH THIS SITE, OR OTHERWISE ARISING OUT OF THE USE OF THIS SITE, WHETHER BASED ON CONTRACT, TORT, STRICT LIABILITY OR OTHERWISE, EVEN IF Finance of America, ITS AFFILIATES OR ANY OF ITS SUPPLIERS HAS BEEN ADVISED OF THE POSSIBILITY OF DAMAGES. BECAUSE SOME STATES/JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF LIABILITY FOR CONSEQUENTIAL OR INCIDENTAL DAMAGES, THE ABOVE LIMITATION MAY NOT APPLY TO YOU.
Finance of America Mortgage, LLC - NMLS #1071
AL Consumer Credit License
Licensed Mortgage Banker AZ
Licensed Combination Mortgage Banker-Broker-Servicer AR
CA Finance Lenders Law License
CA Residential Mortgage Lending Act License
Licensed Mortgage Broker in CO
CT Mortgage Lending License
Licensed by the Delaware Office of the State Bank Commissioner
District of Columbia Mortgage Dual Authority License
Licensed Correspondent Mortgage Lender FL
GA Mortgage Lender License
ID Mortgage Broker/Lender License
IL Residential Mortgage License
IN First Lien Mortgage Lending License
IA Mortgage Banker License
KS Mortgage Company License
MD Mortgage Lender License
MA Mortgage Broker License
MA Mortgage Lender License
ME Supervised Lender License
MI 1st Mortgage Broker/Lender Registrant
MI 2nd Mortgage Broker/Lender Registrant
MN Residential Mortgage Originator License
Licensed by the New Hampshire banking department
NJ Residential Mortgage Lender License
NM Mortgage Loan Company License
Website authorization by the New York State Department of Financial Services is pending. Until this website is authorized, no mortgage loan applications for properties located in New York will be accepted through this site. Licensed Mortgage Banker - NYS Department of Financial Services
NC Mortgage Lender License
OH Mortgage Broker Act Mortgage Banker Exemption
OH Mortgage Loan Act Certificate of Registration
OK Mortgage Broker License
OR Mortgage Lending License
PA Mortgage Lender license
RI Lender License
RI Loan Broker License
SC-BFI Mortgage Lender/Servicer License
(#MLS - 1071)
TN Mortgage License
TX-SML Mortgage Banker Registration
UT-DRE Mortgage Entity License
VT Lender License
VT Mortgage Broker License
Licensed by the Virginia State Corporation Commission
WA Consumer Loan Company License
WV Mortgage Broker License
WV Mortgage Lender License
WI Mortgage Banker License
WI Mortgage Broker License
This is not an offer to extend credit to any individual who may be entitled to a more complete disclosure per RESPA, TILA, HOEPA or any other more applicable federal, state or local law or regulation. Rates, Terms, Fees, Products, Programs and Equity requirements are subject to change without notice. For qualified borrowers only.
Finance of America Mortgage LLC
It's Successors and/or Assigns/ATIMA
PO BOX 3017
Everett, WA 98213
Escrow funds on deposit at the time of payoff will be refunded to you within 30 days of the date of payoff. If you still own the property, you will be responsible for your real estate taxes and dwelling or flood premiums.
If you need a payoff statement please call 1(855) 326-2121. Requests can also be made in writing, by facsimile or via our website www.servicing.financeofamerica.com. Please reference your monthly billing statement for additional information.
Verbal payoff figures are not available. Payoff statement requests are processed upon receipt. Please allow sufficient mail time.
The process may vary depending on the loss. You can also call Finance of America Mortgage Services at Hot Line 1(855) 326-2121 for further instruction.
Federal law mandates that we perform a flood search on your property at the time of closing and that we monitor flood map changes for the life of the loan. If your insurable improvement is determined to be located in a Special Flood Hazard Area or Zone A as determined by the Federal Emergency Management Association (FEMA), we require a flood policy and will maintain an escrow account for the payment of premiums.
The policy coverage amount must be sufficient to cover the loan balance.
You are responsible for payment of your real estate taxes. Finance of America Mortgage will contact your taxing authority to confirm real estate taxes are paid. If real estate taxes are delinquent, an escrow account will be established to pay the delinquent real estate tax and your monthly payment will be adjusted to cover the delinquent and future real estate tax payments.
You will receive an Annual Escrow Account Disclosure statement notifying you of any change to your escrow payment. If the principal and interest portion of your payment changes you will receive a letter notifying you of the new interest rate and principal and interest payment amount.
It is possible that your monthly payment will change. The principal and interest portion of a fixed rate loan does not change. If you have an adjustable rate mortgage, the principal and interest portion may change as outlined in your mortgage.
An escrow account may be maintained for the payment of real estate taxes, dwelling and/or flood insurance premiums. If your escrow figures change, so will your monthly payment. As your mortgage contract states, your monthly escrow payment must be one-twelfth of the annual escrowed items.
Yes. We recommend our automatic draft of your monthly mortgage payment from your checking or savings account. Payments are drafted on the first, fifth, or fifteenth working day of each month. There is no charge for this service and your payment is never late. Additional principal payments can also be drafted with your monthly payment.
Extra principal payments can be made in any dollar amount, unless otherwise stated in your mortgage. It is required that the account be current and recommended that the funds be remitted with your regular monthly payment. Making additional principal payments will reduce your outstanding balance and shorten the term of your fixed rate loan; however, it will not reduce the regular principal and interest portion of your payment.
If you are making two or more payments, send a check for the total amount with the coupon from your Mortgage Billing Statement and note on the coupon how many month's payments you are enclosing.
Call 1(855) 326-2121 and speak with one of our professional Associates. Finance of America Mortgage is committed to assist you should you encounter financial hardship or situations beyond your control. We have experienced, specially trained Associates who are ready to discuss your options with you. Finance of America Mortgage will make every reasonable effort to find a solution and provide payment alternatives, including referral to HUD approved credit counselors. Please see our Mortgage Assistance page.
Most late charges are assessed on the 16th of each month. Please refer to your statement of loan documents for the exact date.
Most monthly payments are due on the first of each month. Please allow 5-7 days for mailing. Payments are posted on the date of receipt, not on the postmark date. Refer to your Statement or loan documents for the exact due date. The payment due date cannot be changed.
You should mail each payment with the coupon from your Statement to Finance of America Mortgage in the envelope provided. Or, visit our website at www.servicing.financeofamerica.com.com and make a payment on-line. For payment information, please reference your monthly Statement. If you do not have a coupon, please submit your payment by writing the account number directly on the check. Please mail your check to:
Regular Mail - Payments Only
Finance of America Mortgage
P.O. Box 845343,
Los Angeles, CA 90084-5343
Overnight Mail - Payments Only
Finance of America Mortgage
15325 Fairfield Ranch Rd, Suite 200
Chino Hills CA 91709
General Correspondence – No Payments
Any correspondence about your mortgage should be directed to Finance of America Mortgage. For address information, please reference your monthly billing statement or call Finance of America Mortgage at 1(855) 326-2121.
Finance of America Mortgage
15325 Fairfield Ranch Rd, Suite 200
Chino Hills CA 91709
Yes. Please mail a copy of the recorded legal document that reflects the change. Mail the document to Finance of America Mortgage, 15325 Fairfield Ranch Rd, Suite 200, Chino Hills, CA 91709.
We are required by Federal law to provide an annual tax and interest statement (1098 form) on or before January 31. The annual statement is an accounting of funds collected and disbursed for the previous calendar year.
Yes, you will have to qualify for the refinance loan. However, the process can often be streamlined and expedited.
Closing costs vary depending on your location and the purpose of the loan as well as differences in third party fees. To find out what a refinance may cost you, please call one of our Mortgage Representatives toll-free at 800.710.7622
The difference between your loan balance and the value of your home is called equity. If you have held your mortgage for some time, you've probably begun to reduce the outstanding principal on your loan and increase the amount of equity in your home.
You may be able to refinance your home for more than what you currently owe and take the extra loan proceeds in the form of cash. On a cash-out refinance you may use the cash for home improvements, college costs, new car or other major purchases.
Generally, a new appraisal and credit report are necessary.
Although each situation is different, there are several reasons to refinance including:
• Lower your monthly principal and interest payments.
• Move to a secure, fixed rate loan.
• Lower your interest rate.
• Take cash out of the equity in your home to consolidate debt or for home.
The Housing and Economic Recovery Act of 2008 has allowed Fannie Mae to implement higher conforming loan limits for high-cost areas. High-balance loans are subject to high-cost area loan limits set annually by the Federal Housing Finance Agency (FHFA).
A "conforming" loan meets loan limits and established by Fannie Mae and the Federal Home Loan Mortgage Corporation (Freddie Mac). "Non-conforming" loans or "jumbo" mortgages exceed these limits.
While the monthly payments on a 30-year mortgage are lower than those for a 10, 15 or 20-year mortgage, a shorter-term can save you a considerable amount of money because of the way the mortgage amortizes. In addition, many times a shorter-term mortgage is available at a lower interest rate.
Typically, you can lock your interest rate after submitting your application and providing a copy of your Purchase Agreement or Sales Contract. Finance of America Mortgage offers a wide range of lock-in periods depending on your needs. If you do not lock your rate at application, you must lock no less than five business days prior to closing.
A jumbo loan is a mortgage that exceeds the maximum loan amount established by Fannie Mae and the Federal Home Loan Mortgage Corporation (Freddie Mac). Jumbo loans are also referred to as "non-conforming" loans.
A fixed rate mortgage is a loan in which the interest rate does not change during the entire term of the loan. With this type of mortgage your monthly payments for principal and interest never change.
With an adjustable rate mortgage (ARM) the interest rate may periodically adjust on the basis of changes in a specified index. ARM loans can allow you to buy a more expensive home since the interest rate is usually lower than a fixed rate mortgage.
The right type of mortgage for you depends on many factors including:
• Your current financial picture
• How you expect your finances to change
• How long you intend to keep your house
• How comfortable you are with your mortgage payment changing from time to time
Finance of America Mortgage will ask for information regarding your employment, income, assets, debts and the prospective property you intend to purchase or refinance. Other information may be needed depending upon your situation.
To update your application or ask a question about the process, contact your Mortgage Representative. Once you submit your application, a Mortgage Representative will be assigned to you.
Title insurance protects the lender (lender's policy) and the homeowner (owner's policy) against loss resulting from disputes over ownership of the property.
Discount points are a one-time charge (or credit) by the lender. Each point is equal to 1% of the principal loan amount and can be paid to buy down the applicable interest rate. If you choose to pay points, they are typically paid at the time of closing. Discount points may be negotiated in the Purchase Contract to be paid by either the seller or borrower.
Closing costs cover all the fees and expenses associated with a loan transaction. Closing costs may include fees for an appraisal, credit report, title insurance, survey, and points. Closing costs vary depending upon the loan product and the fees that are customary in your area.
Your credit is an important consideration for determining your creditworthiness. Information in your credit report is prepared by a credit bureau or consumer reporting agency. Any late payments or other adverse information contained in your credit report will receive additional review during the underwriting of your loan application, and may require further written explanation(s) or documentation from you as we consider your loan request.
An appraisal is a report made by a certified appraiser who provides a professional opinion or estimate of property value. When you apply for a mortgage loan with Finance of America Mortgage, the appraisal process will be initiated.
A pre-qualification will estimate how much money you are eligible to borrow before you apply for a mortgage. Be prepared to provide basic information such as income, debts and assets. A pre-qualification is not a pre-approval or loan approval.
Yes. You may provide the required documentation for a loan pre-approval to verify income, debts and assets prior to your purchase. Once we obtain a credit report, we can make a credit only loan decision. This process is called a pre-approval. Since the property to be purchased is typically not known for a pre-approval, estimated sales price and loan amount are used to make a loan decision.
Our Mortgage Representatives are available from 8:30 AM to 5:30 PM PST. Please call Finance of America Mortgage toll-free at 1(800) 355-5626 or visit our website http://www.financeofamerica.com and complete some basic information to begin the process.