Finance of America Mortgage, LLC
Finance of America Mortgage is a national, full service mortgage banker, offering a diverse portfolio of home loan products. Our parent company, The Blackstone Group, provides us with the resources to expand our product offering and develop new services for our customers and partners. Our knowledgeable and seasoned mortgage specialists are committed to delivering an innovative, high-touch, high-tech lending experience for consumers, brokers, and our industry partners across the country. At Finance of America Mortgage we do everything we can to put more knowledge, initiative, and power back into the borrower’s hands – where it belongs.
After weeks of researching and refi shopping, I finally got a chance to hear Andrew’s voicemail and decided to give him a call back. I’m so grateful that I did. Exhausted from so many quotes and finance lingos, I was so happy to hear from someone who genuinely had my best interest in mind. He was extremely efficient, knowledgeable, and transparent. He didn’t hesitate to help me with any of my questions and concerns. The whole process was fast and I’m beyond delighted with my refinance. I would recommend Andrew and his team to anyone!
Andrew was able to quote terms that made it worth refinancing and delivered on his promise. The entire process was extremely simple and clean with no surprises. Everything went as planned and that is rarely the case when it comes to a refinance. Based on my experience, I would highly recommend working with Andrew Cutshall.
Andrew is very knowledgeable, Fast, Professional. got me an amazing rate.I would definitely recommend him to my friends.
I was a little hesitant to do all of the paperwork online but after talking to Andrew and he walking me through the entire process it was fast and easy process. I would definitely recommend him
This was my third refi deal and second closing with FoA. I like to shop around. This last time I had four serious companies to choose from but these guys were the quickest to respond and always seem to offer the best rates. It’s surprising to me that the best service always seems to come from this company even though the agents are always different and we are three time zones away. Obviously this company has a great management structure. Thank you very much for earning my trust and coming through every time!
Finance of America Mortgage was founded in 1994 and is headquartered in Pennsylvania. There are more than 1,500 home advisors available nationwide who are prepared to help homebuyers, homeowners, investors and business owners.
The lender provides various loan products in addition to home loans, including commercial loans and student refinancing. In 2017, Finance of America Mortgage funded nearly $15 billion in home loans.
Finance of America Mortgage currently operates in all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. Physical branches are located in the following states:
Finance of America Mortgage has mortgage advisors available to speak with borrowers in person, in addition to phone and email communication options. Homebuyers can use the online search tool to get contact information for their local branches and a list of advisors located at each. If they select Finance of America Mortgage as their mortgage lender, they can complete an application in person at their local branch or online. Those opting for the online application can complete a large portion of the process digitally, including uploading requested documentation, but it is unclear what documents can be signed and submitted using the online accounts.
Both conventional and government-backed loans are an option at this lender. Every applicant is subject to a review of their credit score by underwriting, regardless of the loan product they choose. Credit score requirements vary based on each of these products. For example, should a borrower apply for a new construction loan, a credit score of 620 is required. For the Two-X Apex loan, a minimum credit score of 680 is required. For buyers looking for more-flexible credit requirements due to their income and/or poor credit history, a government-backed loan, such as an FHA, USDA or VA loan, may be a more suitable option.
Finance of America Mortgage approves funding for single-family homes, multifamily homes, condominiums, townhomes, planned-unit developments (PUDs), manufactured homes and co-ops.
Other than the Two-X Apex loan and Two-X Extend loan, the following programs are not available to borrowers in Alaska, North Dakota, South Dakota, Utah and Vermont.
Fix and flip loan: This loan is available to borrowers who wish to purchase and renovate a property.
Fix and flip exposure limit loan: This loan is available to borrowers who have at least two years of recent experience in purchasing and renovating properties.
Fix and flip line of credit: A line of credit that is extended to borrowers who wish to purchase and renovate a property.
Single rental loan: This loan is available to veteran landlords and first-time investors who wish to purchase a rental property between $75,000 and $1.5 million.
Portfolio rental loan: This loan is available to borrowers who have at least two years of experience with the owning and management of rental properties.
Two-X Apex loan: This loan is available to borrowers in all 50 states who wish to purchase a high-value home that ranges in price between $100,000 and 2.5 million.
Two-X Extend loan: This loan is a mix between a conventional mortgage and a fixed-rate second mortgage that is extended to borrowers who are looking to avoid taking out large loans, paying mortgage insurance or making high monthly payments.
Homebuyers will communicate with a Finance of America Mortgage advisor throughout the loan process. Initial contact with the advisor can be made by visiting a local branch, calling or emailing an advisor directly or calling customer service. The search tool on the lender’s website allows borrowers to view a list of advisors, their phone numbers and email addresses. This leaves them the option to contact the advisor of their choice by phone or email, but they can also fill out the available contact form.
Editorial Note: Parts of this article were reviewed by a lender to ensure accuracy prior to publication. The overall conclusions, recommendations and opinions are the author’s alone.
The information in this article is accurate as of the date of publishing.