Ameriquest Mortgage Company is one of the nation's
oldest and largest home-equity lenders. Ameriquest is proud of their
history of making credit accessible to homeowners, helping customers
gain a fresh financial start, realize a dream and make homeownership
Ameriquest believes consumers should (1) receive clear
and timely disclosures of the terms of a proposed loan and their
options; (2) have adequate time to evaluate and negotiate those
terms and; (3) have the ability to obtain the advice of independent
advisors as to whether the loan is one they should accept.
As part of this philosophy, Ameriquest has made the
decision not to quote rates on their website. “Those rates
you see published represent the lowest rate you could possibly receive
— a combination of circumstances involving the size of your
loan, type of property, credit rating and more,” they explain,
going on to say, “You may qualify for that rate. Then again,
there’s a chance you won’t.” They elaborate, stating
that every loan is a separate case, and every application is evaluated
so that a loan can be tailored to individual needs.
Ameriquest Mortgage Loan Options
Ameriquest lends in most of the United States, though
they do not do loans at all in Virginia, West Virginia, or Nebraska.
Their niche is largely subprime, and they specialize in debt consolidation
loans for medium- to high-risk borrowers. In addition they do offer
Fixed Rate Mortgages, Adjustable Mortgages (ARM), Interest Only Loans, LIBOR, Cash Out Loans, Refinance Loans, Second Mortgages,
Home Purchase Loans, Reverse Mortgages, Home Equity Lines of Credit
(HELOC), or Home Equity Mortgage Loans.
Unlike many mortgage lenders, Ameriquest retains the
servicing on all their loans, so the list of “best practices”
on their website encompasses all aspects of the mortgage loan transaction,
not just the origination phase, and includes points on encouraging
the use of escrow accounts (impounds for those on the West Coast)
and their innovative offer of a seven day rescission period on refinances,
instead of the federally mandated three days.
Ameriquest in the Community
In addition to mortgage lending, Ameriquest is an
active sponsor of many cultural and sporting events, including the
Ameriquest Field ballpark in Arlington Texas. As well, it's philanthropic
mission Soaring Dreams is involved in literacy programs throughout
Ameriquest lends throughout the United States, and
is subject to the laws of the state in which specific property is
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