Empire of America Reviews

Empire of America is a retail mortgage banking firm that operates as a creditor rather than a broker. That structure allows it to underwrite loans in-house and issue underwriting-based preapproval letters. Its core focus is residential lending, including purchases, refinances and cash-out refinances.

Conventional loans that follow Fannie Mae and Freddie Mac guidelines are most common at Empire of America, though the company does offer Federal Housing Administration (FHA), VA and jumbo loans.

All Empire of America applications are handled digitally. You’ll begin by filling out an online application that asks for basic information about your finances and the property being mortgaged. You can upload supporting documents through a secure system. The lender reviews the file and issues an underwritten preapproval letter, often within 24 hours, at no cost to the borrower.

Once details are finalized, the loan moves into full underwriting. Because Empire of America operates as a creditor, it can manage underwriting and approval internally. Purchase loans typically close within two to three weeks, with some refinances closing sooner depending on complexity.

Empire of America Application features

Here are sample rates from a $480,000, 30-year conforming loan, accurate at the time of publication:

Empire of America also lists sample rates for conventional fixed-rate and adjustable-rate mortgages, as well as VA, FHA and jumbo loans. Rates vary based on loan type, credit profile, down payment and market conditions.

The lender uses a discount-banker model, which sometimes results in lower pricing compared with traditional retail lenders. Your final rate may differ from the sample rates, since your actual interest rate is provided after you apply.

Empire of America offers the following mortgage products:

• Cash-out refinance loans
• Conventional adjustable-rate mortgages
• Conventional fixed-rate mortgages for purchases and refinances
• FHA loans (limited availability)
• Jumbo loans up to $5 million
• VA loans for eligible borrowers

Conventional loans follow Fannie Mae and Freddie Mac guidelines, including conforming and super-conforming limits. In high-cost areas, loan limits can reach about $1.2 million for single-family homes.

You’ll need to provide income, asset and employment verification to borrow from Empire of America. The property must meet the eligibility requirements of the loan you’re applying for.

Credit score and down payment requirements depend on the type of mortgage. VA and FHA loans follow government program standards, while jumbo loans generally require higher credit scores and stronger financial profiles.

Empire of America charges standard closing costs associated with mortgage lending, which include third-party and service provider fees. It also offers no-closing-cost mortgage options that use lender credits or premium credits to offset closing costs.

No-closing-cost lending allows borrowers to reduce or eliminate upfront closing costs in exchange for a higher interest rate. Specific fees and credits depend on loan terms and are disclosed during the application process.

Yes, Empire of America is a legitimate, family-owned mortgage banking firm that has operated since 1983 and functions as a retail lender and creditor.