What Are Fixed Rate Mortgages and What are the Benefits? There are several big questions to ask yourself during the process of applying for a new home mortgage, and one of the most important is the basic loan interest format you’ll be taking. Mortgage rates are some of the most important factors in determining whether…
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For anyone with experience in the real estate industry, the term “closing costs” stir up negative emotions. These costs are paid at the closing of any real estate transaction, and they can often sneak up on you during or after the home loan process. At American Loans & Mortgages, one of the primary perks of…
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It’s common and understandable to think of a mortgage only in terms of a long-term expense, but for people of a certain age or beyond, this isn’t always the case. Most people spend a great portion of their adult lives paying a mortgage, but there’s a certain point at which the opposite becomes possible –…
Read MoreNow that you’re ready to purchase a home, it’s important to understand how you can get the best interest rate for your loan. As any lender will tell you, getting the lowest possible interest rate can save you thousands over the life of your loan. But how can you get a lower rate? Here…
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For people in the housing market looking to personalize their home, a construction loan can be a great option. Construction loans can be used to build a new home or modify an existing one. American Loans and Mortgages offers a number of options for construction loans in Salt Lake City and all over Utah. For people…
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Taking out a loan to remodel your home is a popular practice among homeowners with fix-ups on their hands. For those with collateral, many types of secured loans present major benefits down the line after the home improvement process has taken place. Here are a few reasons why these loans are so beneficial. Low Interest Loans…
Read MoreThere’s a lot more to pay attention to than just the current interest rates when you apply for a mortgage. Know that you have more influence than you might think in regards to the type of mortgage you get and the terms you receive. Learn when it’s time to pounce on a mortgage and when…
Read MorePrior to the recession, many homeowners were able to take advantage of generous lending options that often included financing as much as 100 percent of a home’s value. While this is great for a potential homebuyer who doesn’t have the money for a large down payment, it was risky for lenders. When the recession hit…
Read MoreThere are a lot of things to think about if you are planning to purchase a new home, but perhaps the single most important thing to know is your credit score. Your credit score determines the interest rate you will get on the loan, and since most mortgage loans will last at least 30 years,…
Read MoreIf you are in the market for a loan, whether you are a student, homeowner or potential vehicle owner, it is of the utmost importance to ask the right questions of your future lender. The answers to these inquiries will help you figure out the details of your loan’s interest rate, repayment plan and more.…
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