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Frequently Asked Questions (FAQs)

Federal and State Disclosures

Loan Programs

UP2 Subprime Loans

Borrowers that seek financing on transactions that satisfy Fannie Mae, Freddie Mac, FHA or VA guidelines receive the best possible financing terms.  These types of loans have minimum credit score and maximum loan to value, debt to income ratio, and loan amount requirements. The loans are often referred to as “conforming” loans since they “conform” to the agency guidelines.  Because they receive the best possible terms they are also sometimes referred to a “prime” loans.

A loan program which enables a borrower to qualify despite the fact that his/her debt to income ratios are too high for a “conforming” loan, despite the fact that his/her credit scores are less than what is required on a “conforming” loan, or despite the fact that he/she cannot document income or assets, is often referred to as a “subprime” loan.

AmeriFund offers financing on these types of transactions at a slightly higher rate than what a borrower could receive on a conforming loan.

Refer to our Frequently Asked Questions on Loans for Borrowers with Low Credit Scores for more information about these types of loan programs.