When purchasing a home, securing the right mortgage is a crucial step in the process. With decades of experience and dedication to customer service, Ameris Bank offers a range of mortgage options to help you achieve your home. In this article, we'll delve into Ameris Bank mortgages, exploring the variety of loan programs, down payment assistance, and more.

Diverse Mortgage Programs

Ameris Bank offers various mortgage programs catering to novice homebuyers and experienced real estate investors. This flexibility is one of its key advantages.

• Conforming Loans: Such home loans adhere to the guidelines established by government-backed organizations such as Fannie Mae and Freddie Mac.
• FHA Loans: Designed to aid buyers with low credit scores and down payment requirements, FHA Loans are supported by the Federal Housing Administration.
• VA Loans: VA loans provide advantageous terms and may not mandate any down payment but are dedicated exclusively to veterans and on-duty service members.
• USDA Loans: Perfect for individuals seeking a home in rural areas, USDA loans offer complete financing to qualified buyers within approved regions.
• Jumbo Loans: If you want to finance a home that falls within the higher price category, Ameris Bank provides an excellent deal with this attractive rate for jumbo loans.
• Construction Loans: Ameris Bank could help you get the money to finance your dream house on time during the building period.
• Rehabilitation Loans: Such loans are good for purchasing a house that needs repairs because you can lump the cost of the price of the property with renovation costs under one loan.
• Medical Professional Mortgages: These loans for healthcare professionals have very competitive rates.

Flexible Credit Assessment:

Ameris Bank is distinctive due to its proposals for borrowers with no credit history or low credit scores. To avoid depending only on age-old credit scores, the bank can consider creditworthiness based on rent payment history or use bank statement data to determine cash flow.

Costs and Fees:

Ameris Bank understands that understanding the costs and fees associated with a mortgage is highly important. Even though detailed information about specific fees might not be provided online, borrowers will likely find origination fees when they take care of the loan. This fee is usually between 0.5% to 1% of the total amount borrowed. Besides, closing costs are usually 2% to 5% of the loan amount and cover other expenses, including prepaid goods such as homeowners' insurance premiums and charges paid to third parties like appraisal fees.

Ameris Bank will offer useful services through its Ameris Down Payment Grant program that would give to qualified borrowers up to 4% of the purchase price for a down payment on closing costs. To get a full picture of whether you are eligible for such programs and to obtain detailed information on fees and costs associated with your mortgage application, it is highly suggested that you visit the local Ameris Bank branch or contact your advisor.

Application process

We will guide you through the main components of Ameris Bank's mortgage application procedure so you are ready for any step.

Online Application Portal:

Among the conveniences offered by Ameris Bank is filling out your mortgage application online. You will start off by registering an account in the secure application portal. This platform eased the application process by having a user-friendly environment.

Providing Your Loan Preferences and Financial Information:

After registering your account, you will provide the necessary information regarding your loan preferences and financial situation. This would entail information about your assets, expenses, employment status, and income. It is recommended to have important financial documents handy to facilitate the process. These may include your previous year's tax return, recent pay stubs, bank account statements, and any retirement or investment accounts. Ameris Bank will also ask for permission to see your credit report.

Assistance from a Loan Officer:

After submitting the first application, a personal loan officer from Ameris Bank will contact you to assist in completing the remaining details. They might ask you to attach more financial records to the application portal for verification. Ameris Bank has a convenient checklist on its site to assist applicants in collecting all required documents quickly.

Preapproval Decision:

Ameris Bank will answer your application shortly. They tell you their decision should come through a few days after submitting your application. This step is vital because it paves the way for your home search and ensures that you clearly understand your budget.

Key Features of Ameris Bank's Mortgage Application:

• Online Application: Apply for your mortgage anytime from the comfort of your home by accessing Ameris Bank's secure online portal.
• Mobile Document Upload: You can also easily upload important financial documents directly to the application portal for a more simplified process.
• Physical Branches: Ameris Bank also provides in-person application options in eight states, which is a bit personal for those who like the face-to-face approach.
• Rate Transparency: Though Ameris Bank does not publish specific details on the rates, they provide a clear rate lock period, which ensures that your mortgage rate will remain constant. It may also offer extended rate lock options.
• Pre-qualification: Ameris Bank might provide pre-qualification alternatives without carrying out a hard credit check, so you can examine your qualifications without affecting your credit score.
• Certified Approval Letter: Ameris Bank issues certified approval letters throughout the application process to increase your credibility with sellers and real estate agents.

Pros and Cons of Choosing Ameris Bank:

To help you make an informed decision, let's briefly summarize the pros and cons of Ameris Bank:

Pros:

• A diverse range of mortgage programs.
• Assistance for first-time homebuyers.
• Acceptance of non-traditional credit.
• Availability of free checking accounts.
• Full-service branches in multiple states.

Cons:

• Limited geographic presence. Not available in Alaska, Hawaii, Maine, or New York
• Limited rate transparency

Conclusion:

In conclusion, Ameris Bank provides various financial products ranging from mortgages and loans to day-to-day banking services. Although it does not cover all states, its positive approach to assisting first-time homeowners and those with non-traditional credit is commendable. Ameris Bank could be the bank that will help you accomplish your financial goals.