Purchasing or refinancing your home may be the biggest financial decision most of us will ever make. When you place your trust in local hands, we will be with you through every step. We offer a wide variety of terms and features and will take the time to explain them and then tailor your loan to your best advantage.
In-House Conventional Real Estate Mortgages
Adjustable Rate Mortgage Loans (ARMS) with a fixed rate for the first 63 months. After 63 months, the rate may adjust annually. Local servicing with amortizations up to 25 years are available.Your closing costs can be financed with your loan. Visit any of our locations for a rate quote and free pre-qualification. Free or discounted deposit accounts and services are included during the life of your loan.
Secondary Market Conventional Home Mortgages
Mortgage loans with a long-term fixed rate or an adjustable rate mortgage (ARM).Local servicing and approval. Pre-qualification is also available. First time home buyer programs are available.Free or discounted deposit accounts and services are included during the life of your loan.
USDA Rural Development Program
This special loan program enables borrowers to purchase a home with no money down. You can even roll some of the closing costs into the loan, making home ownership that much easier. To be eligible, you must meet the income limitations and the property must be located in an eligible Rural Housing Zone. No down payment Roll closing costs into loan (loans available up to 102%) Competitive market rates Fixed term mortgage up to 30 years Easier to qualify No private mortgage insurance (PMI) required Household income must fall within program guidelines* Single family, owner occupied properties only Personal service every step of the way Local approvals
*Income eligibility varies by county. Contact us for these limits
FHA & VA Loan Programs
Both the Federal Housing Administration (FHA) and the U.S. Department of Veterans Affairs (VA) have loan programs that require little or no money down. They have easier qualifications than traditional mortgages. American Bank provides these loans in conjunction with American Trust, with local service every step of the way. Easier to qualify, even without perfect credit FHA regulates closing costs Lower down payments Gifts can be used for down payments/closing costs Fixed or adjustable rates available Single family, owner occupied properties only Personal service every step of the way Local approvals Maximum income requirements to be eligible
Residential Construction Loans
American Bank has a great history of working with Wisconsin builders and developers. Our local lenders will take you through each phase of your construction process. When finished, your construction loan can be converted into a permanent mortgage, saving substantial additional closing costs. An initial construction loan fee, payable in advance, is refunded in the amount of $300 if you obtain permanent financing with American Bank-Wisconsin or American Trust in Dubuque, following the construction financing. You pay interest only on the amount of funds advanced during the construction period. Contact the American Bank location closest to you for a free pre-qualification.Learn more at MORTGAGE BASICS
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